At the end of October 2015, stricter ESMA requirements for derivate reporting will come into effect. These requirements include the verification of an LEI’s validity.
Starting from the end of October, trade repositories will have to verify that the contents and format of EMIR transaction reporting is correct. In this context, LEI information will be required. WM Datenservice offers an interface for the automated verification of LEIs on its website www.geiportal.org. The “LEI Verification Interface” (LVI) allows banks and other service providers that submit their EMIR transaction reporting to trade repositories to check the validity of LEIs in an automated fashion and in real time.
The LVI solution makes the creation and maintenance of an own LEI database unnecessary. The results of the online verification are instantly rendered in XML format and can be imported or transferred into internal systems for further processing.
The WM Datenservice LVI service offers the following advantages:
+ Easy Use
+ Daily Updates
+ Fully Automated Results
+ Global LEI Coverage
+ Verification of Legal Entity and LEI Status
For additional information, please contact us at firstname.lastname@example.org.