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Bridging pre-trade and post-trade processes with the Legal Entity Identifier for a more efficient trade and client life-cycle management

Author

Listed:
  • Tuncer, Burcu Mentesoglu

    (Senior Business Relations & Policy Research Manager, Global Legal Entity Identifier Foundation (GLEIF), Germany)

  • Rowley, Clare

    (Head of Business Operations, Global Legal Entity Identifier Foundation, Switzerland)

Abstract

High reliance of post-trade processes on nonstandardised datasets, different data definitions within the same firm and legacy systems make the post-trading services complex and costly for all market participants. In this paper, we discuss how the Legal Entity Identifier (LEI), a data element that is associated with post-trade process and reporting, has the potential to transform client onboarding and pre-trade activity and as a result improve the whole trade life cycle. We present GLEIF’s new Validation Agent model as a practical solution that allows financial institutions to obtain and maintain LEIs for their clients in cooperation with accredited LEI Issuer Organizations. Once the link is made between the client and the LEI, the financial institutions can more effectively address reporting throughout the trade life cycle, especially in the critical phase of posttrade settlement.

Suggested Citation

  • Tuncer, Burcu Mentesoglu & Rowley, Clare, 2021. "Bridging pre-trade and post-trade processes with the Legal Entity Identifier for a more efficient trade and client life-cycle management," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 13(3), pages 208-217, June.
    • Handle: RePEc:aza:jsoc00:y:2021:v:13:i:3:p:208-217
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    More about this item

    Keywords

    Legal Entity Identifier; transaction reporting; client onboarding; non-economic data; data reporting; standardisation;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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