GLEIF and SWIFT Collaborate to Enable Interoperability Across Multiple Identity Platforms
GLEIF grows LEI mapping capability across global entity identifier systems with latest certification linking it to the Market Identifier Code (MIC)
The Global Legal Entity Identifier Foundation (GLEIF) today announces that it has expanded the scope of its collaboration with Swift by providing certification for the mapping of the Market Identifier Code (MIC) to the Legal Entity Identifier (LEI). The resulting launch of a new open-source file mapping the MIC to the LEI will further enable market participants that use GLEIF and / or Swift data, such as financial institutions and public authorities involved in risk analysis and market monitoring, to link and cross-reference key entity identifiers, free of charge. This will ease the process of gathering, aggregating and reconciling counterparty information based on interoperability across parallel identity platforms.
This collaboration between GLEIF and Swift, the world’s leading provider of secure financial messaging services, builds on a cooperation established in 2018 to link the Business Identifier Code (BIC) to the LEI. The MIC is an International Organization for Standardization (ISO) code used to process and clear trades and is gaining traction as the securities industries move toward straight-through-processing.