The Global Legal Entity Identifier Foundation (GLEIF) announced its collaboration with S&P Global Market Intelligence to certify the mapping of the S&P Global Company ID to the Legal Entity Identifier (LEI), creating one of the most comprehensive linking solutions in the industry.
Financial institutions, public authorities and other organizations use S&P Global Market Intelligence data in their compliance, Know Your Customer, regulatory reporting, and due diligence processes. Now, these stakeholders can continue to leverage S&P Global’s cross reference mapping solution, which includes the S&P Global Company ID. This identifier is the primary key in the organization’s Cross Reference Services and will now be supplemented by LEI data via a GLEIF-certified link.
This effort is designed to increase broad accessibility to key entity identifiers used around the world, promote interoperability between parallel identifier systems and help to streamline entity verification processes for data consumers everywhere.
Andreas Hoepner, member and head of Data for the Platform on Sustainable Finance at the Directorate-General for financial stability and capital markets at the European Commission, said in a statement: “Mapping the LEI to the S&P Global Company ID reflects the financial ecosystem’s advancements towards more transparent and efficient practices. By enabling streamlined compliance and allowing for more accurate regulatory reporting, data users around the world can establish confidence in their interactions faster than ever before.”
“Collaborations such as this are crucial to the future security and integrity of global markets,” said Stephan Wolf, CEO at GLEIF. “The mapping of open LEI data to S&P’s Global Company ID will streamline the process of gathering, aggregating and reconciling counterparty information for a huge number of organizations worldwide. The LEI is gaining traction as a key data connector, creating interoperability between the world’s identifier systems with the aim of making the highest quality reference data obtainable to all. Today we take another confident step in the right direction and look forward to guiding more data vendors through the certification process.”
Following the successful certification process, GLEIF will publish the S&P Global Company ID to LEI mapping pairs via LEI search 2.0, which will be updated on a weekly basis. This will allow users to simultaneously map the standardized and proprietary identities across more than 200 datasets. More than 98% of the global LEI population is now linked to its respective S&P Global Company ID.
In addition to certifying the LEI to S&P Global Company ID link, GLEIF has also certified LEI mapping links to Swift’s Market Identifier Code (MIC) and Business Identifier Code (BIC). By working in collaboration with the Association of National Numbering Agencies (ANNA), GLEIF has also certified an LEI mapping link to the International Securities Identification Number (ISIN). The GLEIF Certification of LEI Mapping service is available to interested data vendors and other organizations free of charge.