Bloomberg Seeks Accreditation as a Local Operating Unit of the Global LEI System

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May 05, 2016, 03:00 ET

LONDON, May 5, 2016 /PRNewswire/ -- Bloomberg announced today it has applied to the Global Legal Entity Identifier Foundation, or GLEIF, to become a Local Operating Unit, or LOU, of the Global LEI System, or GLEIS. By submitting this application to the GLEIF, Bloomberg moves to the candidate stage of the LOU accreditation process and joins an existing network of LOU's monitored by the GLEIF.

Bloomberg is working to establish the infrastructure and other requirements mandated by the GLEIF to become an accredited LOU. These efforts are led by Bloomberg's Global Data Group, which also supports Bloomberg's responsibilities as a Registration Authority and issuer of the Financial Instrument Global Identifier, or FIGI, standard under the auspices of the Object Management Group. Peter Warms, senior manager of fixed income, symbology and entity content at Bloomberg, commented, "We are excited to have the opportunity to apply for LOU status in the Global LEI System. Participation in the GLEIS is a natural extension of our experience with open identifiers, data quality and entity data management."

An LOU is responsible for issuing a Legal Entity Identifier, or LEI, which are increasingly required to uniquely identify counterparties within reports submitted to regulatory authorities. As the global framework for establishing and maintaining the LEI system expands in both depth and scope, Bloomberg seeks to provide its entity data management expertise and resources to support the future growth and success of this system by applying to be an LOU.

As a leading provider of financial information and reference data, Bloomberg maintains information for more than 4 million public and private entities. Entity coverage includes basic business card data, such as addresses, phone and fax numbers, as well as registry information, full sanction coverage and hierarchical data consisting of immediate parent, ultimate parent and obligor.

For more information about Bloomberg's contributions to the LEI system globally, please contact Steve Meizanis at [email protected].

About Bloomberg Open Symbology and Entity Content Management
As part of Bloomberg's Global Data group, Bloomberg's Open Symbology and Entity Content Management teams drive Bloomberg's efforts to contribute to universal and standard systems for instrument and entity identification. This includes Bloomberg's responsibilities as a Registration Authority and Certified Provider for the Financial Instrument Global Identifier (FIGI), under the auspices of the Object Management Group. The group also collects and maintains for more than 4 million public and private entities and is building the infrastructure mandated by the Global Legal Entity Identifier Foundation (GLEIF) to become a certified Local Operating Unit (LOU) for LEI.

About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 327,000 subscribers globally. For more information, visit www.bloomberg.com or request a demo.

SOURCE Bloomberg