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LEI + COU = GLEIS
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IvySchmerken
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IvySchmerken,
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8/14/2014 | 9:13:56 AM
Re: Low matching rates in derivatives
The use of so many acronyms guarantees that this is a data management/standards issue. Will business users take this problem seriously?  Do regulators understand that the data they've collected is not useful if it can't be matched at the SDR level?
Becca L
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Becca L,
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8/13/2014 | 3:21:34 PM
Re: Low matching rates in derivatives
LOL
Greg MacSweeney
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Greg MacSweeney,
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8/13/2014 | 3:15:35 PM
Re: Low matching rates in derivatives
LEI+LOU+GLEIS+COU+FMU+CICI=CONFUSION2
allang119
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allang119,
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8/13/2014 | 1:37:37 PM
Re: Low matching rates in derivatives

In the EU under EMIR the UTI is to be composed of the LEI + an agreed to unique number. The LEIs, with no control or parent entity as part of the code have no mechanism to aggregate data by related counterparties sent to SDRs. In the US, the UTI is prohibited from being constructed with a LEI. The nearly 60 data elements that are sent to any chosen SDR (there are 23 SDRs globally) have not been standardized. The information in LEI registries (there are 30 globally) likewise have not yet been standardized. No wonder these transactions can't be matched in any one SDR. Neither can they be aggregated across SDRs for observing risk to any one business, nor its component counterparties. Sounds to me like the cart was placed before the horse.                                                

 

IvySchmerken
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IvySchmerken,
User Rank: Author
8/13/2014 | 1:04:58 PM
Low matching rates in derivatives
Allan,  Reporting of derivatives transactions in Europe has been taking place under EMIR since February. Yesterday, phase II of EMIR kicked in.  I've heard that regulators are troubled by low pairing/match rates for derivatives transactions that are being sent through multiple trade repositories. 40% of trades are matching. What do you make of this in light of the incomplete state of LEI and UTI, etc.?

 

 


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