Broader linking capabilities to Standardized and Proprietary Identifiers includes the Legal Entity Identifier (LEI)
Ahead of final government and industry deliberations on the development and issuance of a standard Legal Entity Identifier (LEI) to meet global regulatory requirements, S&P Capital IQ, a leading provider of multi-asset class data, research and analytics, today announced its efforts to both incorporate the LEI into its reference product suite, while also taking this opportunity to significantly enhance its cross reference services. In the next few months, S&P Capital IQ will launch a Business Entity Cross Reference Service (BECRS) that will include vendor specific Entity Identifiers linked to a single S&P Capital IQ identifier. Additional releases will occur over ensuing months focusing on the global instrument and sector levels.
“While we applaud the introduction of a standard, widely adopted Legal Entity Identifier (LEI) as an important and necessary step to improve risk management and business processing practices, S&P Capital IQ views it as a useful starting point, but not an end, as firms will need to link the LEI to the multiple Entity ID schemas currently being used,” said Daina Senatore, Managing Director, S&P Capital IQ. “As capital markets continue to become more global and complex, our main focus continues to be on developing overall cross reference capabilities that provide a broad range of linkages between entities, companies, securities, sectors and trading items for the benefit of a diverse user base.”
S&P Capital IQ is using the S&P Capital IQ Entity ID as its primary data key and will cross-reference standardized and proprietary identifiers and identify the ultimate parent, thus providing the foundation for master reference data, trading databases, client relationship management systems and more to support activities from the front to the back office. This approach will allow for automated cross-links to handle the addition of new fields and ongoing changes in a highly efficient manner.
In this way, S&P Capital IQ’s Business Entity Cross Reference Service (BECRS) is able to provide immediate cross reference capabilities to millions of entities. The offering will also provide descriptive data to help users identify a particular entity or issuer.