Bloomberg releases New Common Data Format for LEIs
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Bloomberg releases New Common Data Format for LEIs 28 April 2022US Reporter: Jenna Lomax
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Bloomberg has released the New Common Data Format (CDF) 3.1 for legal entity identifiers (LEIs) and received a second accreditation as an LEI issuer for funds.
As an accredited Local Operating Unit of the Global LEI System, Bloomberg can issue and maintain LEIs through its web portal lei.bloomberg.com, or on The Bloomberg Terminal at LEI .
To streamline the capture of the new data requirements of CDF 3.1, Bloomberg revamped its LEI web portal in an effort to enhance functionality and give users greater storage capacity.
This newest CDF, published by the Global LEI Foundation, now includes six entity category data fields that depict the type of legal entity, such as investment fund or government entity, as well as residential government entities, types of fund relationships and corporate events such as name or address changes.
By including these new categories, firms are better able to understand their exposure to different types of legal entities, ensure they are meeting know-your-customer requirements and have access to metadata for onboarding clients, says Bloomberg.
Bloomberg’s Data Division also supports the firm’s responsibilities as a registration authority and issuer of the Financial Instrument Global Identifier (FIGI) standard under the auspices of the Object Management Group.
Both the FIGI and the LEI are managed under the same Open Symbology umbrella within Bloomberg.
Commenting on the release, Steve Meizanis, global head of Symbology and LEI services at Bloomberg, comments: “As an accredited issuer of LEIs, Bloomberg welcomes the new CDF. The additional data being collected around mutual funds, government entities and corporate events allows the LEI to meet the evolving entity identification needs of the industry.
“We are proud to be a part of the global effort to adopt LEIs, enhance financial data quality and bring more transparency and consistency to the capital markets.”
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