Reminder: From 1 May 2018, GLEIF Will No Longer Publish the Level 1 LEI-CDF Version 1.0 Concatenated File
LEI data users are strongly encouraged to adopt the LEI-CDF format version 2.1 as soon as possible
Author: Stephan Wolf
Estimated Reading Time: 5 minutes
The business card information available with the Legal Entity Identifier (LEI) reference data is referred to as ‘Level 1’ data. Daily reporting of LEI and legal entity reference data is conducted by the LEI issuing organizations using the Common Data File (CDF) formats. The reporting of Level 1 data is based on the LEI-CDF format. Since 8 June 2015, the Global Legal Entity Identifier Foundation (GLEIF) has published a daily Concatenated File containing Level 1 data based on the LEI-CDF format version 1.0. Since 8 May 2017, GLEIF has published an additional daily Concatenated File containing Level 1 data based on the updated LEI-CDF format version 2.1.
As previously reported, GLEIF has continued to make available both the Level 1 LEI-CDF Version 1.0 Concatenated File (legacy file) and the Level 1 LEI-CDF Version 2.1 Concatenated File (authoritative source) for a transitional period of one year until 1 May 2018. This has allowed LEI data users sufficient lead time to adapt processes and operations in line with the LEI-CDF format version 2.1.
With this blog post, GLEIF reminds LEI data users that the Level 1 LEI-CDF Version 1.0 Concatenated File will only be published during the remainder of the transitional period until 1 May 2018. From 1 May 2018, only the Level 1 LEI-CDF Version 2.1 Concatenated File will be provided. LEI data users are therefore strongly encouraged to adopt the LEI-CDF format version 2.1 as soon as possible.
The business card information represented in each LEI record, based on the updated LEI-CDF format version 2.1, provides an improved user experience for the following reasons:
Increased data quality and more reliable data content.
Unambiguous information based on clean and fully documented data.
The data integrates more easily into databases or systems.
As a result of the information being structured more clearly, the data is easier to interpret by both humans and machines.
The richer data helps to categorize legal entities and therefore, allows for more insight into the global market place.
The remainder of this blog post offers background information on the GLEIF Concatenated Files and the CDF formats. To access related technical documentation, refer to the ‘related links’ below.
What is meant by ‘Level 1’ and ‘Level 2’ data?
The business card information available with the LEI reference data, e.g. the official name of a legal entity and its registered address, is referred to as ‘Level 1’ data. It provides the answer to the question of ‘who is who’. In May 2017, the process of enhancing the LEI data pool, by including ‘Level 2’ data to answer the question of ‘who owns whom’, began. This data allows the identification of the direct and ultimate parents of a legal entity, and vice versa, in order that the entities owned by individual companies can be researched.
What are the ‘Common Data File’ formats?
Daily reporting of LEI and legal entity reference data is conducted by the LEI issuing organizations using the Common Data File (CDF) formats. The CDF formats provide the specificity needed for the operational implementation of the International Organization for Standardization (ISO) 17442 standard (the LEI standard). LEI issuing organizations supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI.
The CDF format was originally developed by the LEI Regulatory Oversight Committee (LEI ROC) and mandated for all LEI issuing organizations in August 2014. Subsequently, GLEIF assumed the responsibility for maintaining the standard and developing it further.
GLEIF will periodically review the CDF formats to identify the need for updates based on new or adapted policies introduced by the LEI ROC and to align with user requirements.
What are the ‘GLEIF Concatenated Files’?
GLEIF is responsible for ensuring open access to the complete LEI data pool. The GLEIF Concatenated Files provide a way to access the data pool. The Concatenated Files include LEIs and related LEI reference data published by the LEI issuing organizations. GLEIF does not modify any of the original source files provided by the LEI issuers. The Concatenated Files, which can be downloaded free of charge from the GLEIF website, include specific information on legal entities that have obtained an LEI based on the relevant CDF format.
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Stephan Wolf is the CEO of the Global Legal Entity Identifier Foundation (GLEIF). Since January 2017, Mr. Wolf is Co-convener of the International Organization for Standardization Technical Committee 68 FinTech Technical Advisory Group (ISO TC 68 FinTech TAG). In January 2017, Mr. Wolf was named one of the Top 100 Leaders in Identity by One World Identity. He has extensive experience in establishing data operations and global implementation strategy. He has led the advancement of key business and product development strategies throughout his career. Mr. Wolf co-founded IS Innovative Software GmbH in 1989 and served first as its managing director. He was later named spokesman of the executive board of its successor IS.Teledata AG. This company ultimately became part of Interactive Data Corporation where Mr. Wolf held the role of CTO.