ANNA to Create Records with LEI-Instrument Links
The Association of National Numbering Agencies (ANNA) plans to develop new, more detailed records that will include links between legal entity identifiers (LEIs) and the relevant financial instruments, and that will be used for the files National Numbering Agencies (NNAs) publish each day.
The new records will also reflect the categories of financial instruments, according to ISO classifications, and will require data elements within International Securities Identification Numbers (ISINs) to be maintained according to ISO standards—including the Market Identifier Code and the Financial Instrument Short Name.
ANNA will begin developing the records at the end of October and expects to complete the project by the end of 2014.
Nourredine Yous, a Zurich-based ANNA consultant, says making linkages between LEIs and instruments available in the files NNAs publish each day will be of great use to the industry and he expects the linkages to become a regulatory requirement in the future.
"In the ANNA Service Bureau database, you always have an issuer first and then the financial instruments that are linked to that issuer. But the issuer data is not standardized at the moment," says Yous. "So it would be a great advantage to have all numbering agencies identifying their issuers with a standardized number. We think it will be an advantage for the whole industry to have that relationship between the LEI and the instrument and we anticipate that this will also be a requirement of the regulators, because the regulators have to deal with legal entities."
Yous says that although ANNA expects to complete work on the new files by the end of 2014, the usefulness of the LEI-instrument linkages depends on how widely used LEIs are at this time. "If everything goes to plan, the project will be ready, from a technical point of view, by the end of 2014," says Yous. "But its effectiveness also depends on the widespread use of the LEI, which will make the necessary data available. We need to have Local Operating Units covering the whole world."
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