ISITC and GLEIF Launch Collaboration to Support Industry Best Practices and Data Transparency

The partnership will promote education, industry dialogue, and best practices to improve operational efficiency through consistent, reliable entity data.

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ISITC, a global industry trade group that is leading financial services operations into the future, and Global Legal Entity Identifier Foundation (GLEIF), the organization supporting the adoption and use of the Legal Entity Identifier (LEI), announced their partnership. The relationship is focused on industry collaboration, best practices, operational efficiency, and data transparency across financial services.

The partnership brings together two organizations with complementary areas of focus around standards and practices, operational processes, and industry engagement. Together, ISITC and GLEIF will explore opportunities for education, industry dialogue, and best-practice discussions related to legal entity identification, data standards, and evolving market initiatives. Joint activities may include conferences, webinars, research, roundtable discussions and presentation opportunities.

“ISITC has always focused on bringing industry participants together to address operational challenges and support more efficient market practices,” said Paul Fullam, Chair, ISITC. “GLEIF’s work around trusted entity data and global identification standards aligns well with many of the discussions taking place within our working groups and forums.”

The partnership reflects ongoing dialogue between ISITC and GLEIF around common industry challenges, opportunities and identifying areas where the organizations can provide additional value to the industry.

“This partnership developed through ongoing discussions around many of the operational and data-related challenges firms continue to navigate across the industry,” said Michael Burg, Vice Chair, ISITC. “We see meaningful opportunities for collaboration and knowledge sharing that can benefit both organizations and the broader financial services community.”

GLEIF supports the implementation and ongoing adoption of the Legal Entity Identifier, a globally recognized identifier designed to improve transparency and trust across financial markets. ISITC brings together asset servicers, broker-dealers, asset managers, and solution providers to develop standards and best practices that help improve operational efficiency across the securities industry.

“The Legal Entity Identifier gives operations teams one verified way to identify the entities behind a transaction, supporting cleaner reconciliation, ISO 20022 messaging, and regulatory reporting,” said Alexandre Kech, CEO, GLEIF. “During my formative years in post-trade, I was regularly joining ISITC meetings and saw first-hand the critical, behind-the-scenes work that such a group does for the industry. ISITC’s members operate at exactly the points in the trade lifecycle where clarity and trusted identification matter most, and with T+1 and the move to even more instant securities settlement, we look forward to sharing practical guidance on how the LEI can help further reduce friction across the securities industry.”