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CUSIP to Provide ISIN-to-LEI Mapping for U.S. and Canadian Securities
Traders Magazine Online News, September 26, 2019
CUSIP Global Services (CGS) announced that it will provide linkages between International Securities Identification Numbers (ISIN) and their corresponding Legal Entity Identifiers (LEIs) for newly issued and legacy securities in its ISIN database. The new ISIN-to-LEI mapping capability, which is available at no cost, was developed to support the Association of National Numbering Agencies (ANNA) and Global Legal Entity Identifier Foundation (GLEIF) mapping initiative, which was initiated to improve transparency and counterparty risk exposure in the global financial markets.
The ISIN is a global standard for identifying securities from more than 120 different nations in a machine-readable, 12-character alphanumeric code based on the ISO standard 6166. The LEI is a 20-character, alphanumeric code based on the ISO standard 17442, which created a universal code for identifying the ownership structure of entities around the world, answering the basic, but critical questions: who is who and who owns whom? CGS, in its capacity as the largest National Numbering Agency based on size of markets served, is responsible for issuing and maintaining ISINs for over 35 markets in North, South, Central America and Caribbean. The mapping capability, which will grow over time, will be made available for new and existing ISINs in the CGS database for which there is an accompanying LEI, allowing market participants to gain a clear view of their securities exposure within a given issuer and its related entities.
"We're pleased to make this critical mapping capability freely available to the marketplace and to support the great work that ANNA and the GLEIF are doing to improve transparency and counterparty risk management," said Scott Preiss, Managing Director, Global Head, CUSIP Global Services, S&P Global Market Intelligence. "The underlying mission of the LEI, from its conception in the wake of the financial crisis, was to create an easy-to-use and widely accessible standard for identifying underlying entity exposures. By linking the ISIN directly to the entity-level data in the LEI, we are taking an important step forward to enable risk management systems to more accurately capture entity exposures within a securities portfolio."
The CGS ISIN-to-LEI mapping capability is available immediately at no cost and will be available on the GLEIF website.
"From a market user perspective, having a GLEIF certified connection between identification standards that enables firms to aggregate data about securities exposure in relation to individual issuers and related entities delivers a peace of mind that was simply not available a decade ago," said Robin Doyle, GLEIF Board member. "I applaud the efforts of CGS, ANNA and the GLEIF to push the industry forward and to start to make this capability accessible to all market participants."
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