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Identity, Identification and Identifiers : The Global Legal Entity Identifier System

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  • Arthur B. Kennickell

Abstract

Identity is a critical concept in the rational interactions of any set of objects involving subject-object relationships. The objects must be distinguished according to some framework in order for such relationships to have meaning. In the world of economic systems, relationships such as ownership and responsibility require specific parties to be fixed with a high degree of certainty. This need is particularly strong in financial markets, where transactions can take place in nanoseconds. This paper discusses a particular framework for defining economic actors, the Global Legal Entity Identifier System (GLEIS), which was initiated for the purpose of creating greater transparency about participants in financial markets and transactions.

Suggested Citation

  • Arthur B. Kennickell, 2016. "Identity, Identification and Identifiers : The Global Legal Entity Identifier System," Finance and Economics Discussion Series 2016-103, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfe:2016-103
    DOI: 10.17016/FEDS.2016.103
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    File URL: https://www.federalreserve.gov/econresdata/feds/2016/files/2016103pap.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Managing Risk and Complexity: Legal Entity Identifier
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2017-10-30 17:24:28

    More about this item

    Keywords

    Data mapping ; Market participants ; Organizational structure;

    JEL classification:

    • G19 - Financial Economics - - General Financial Markets - - - Other
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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