The CPSS and IOSCO have called for legal entity identifiers to ease data aggregation.
The Committee on Payment and Settlement Systems (CPSS) and the technical committee of the International Organisation of Securities Commissions (IOSCO) have released a report calling for the introduction of legal entity identifiers (LEIs) for firms, and the classification of over-the-counter (OTC) derivatives.
The report, entitled "OTC derivatives data reporting and aggregation requirements" focuses on the challenge of aggregating data from disparate sources for trade repositories, entities that will keep centralised electronic records of OTC derivatives transaction data.
The Group of 20 (G20) countries' committed to OTC derivative contracts being reported to trade repositories at its Pittsburgh meeting in 2009. The Financial Stability Board, responsible for coordination of global financial regulation, formed a task force to make recommendations in...