"Given our role in providing unique identification for instruments, their issuers and obligors, as well as our active role in legal entity standards development, partnering with the CICI Utility at this time makes perfect sense," said Scott Preiss, Vice President of CUSIP Global Services. "We are confident that global market participants will be the beneficiary of this important collaboration."
"We are pleased to join CGS in this endeavor and look forward to providing users with an integrated and efficient approach to assigning CICIs ," said Ron Jordan, DTCC Managing Director and Chief Data Officer.
The CICI Utility and CGS will operate in accordance with the principles set forth by the FSB Implementation Group for the LEI initiative, operating on a cost recovery basis and making the LEIs and associated data publicly available, free of charge and free of restrictions on redistribution. CGS is partnering with the CICI Utility to further its reach as a single pre-LOU (and later, LOU) helping it cover a wide segment of entities that will require LEIs within the community of issuers. Both the CFTC and NAIC have mandated the use of CICI/LEI for use in reporting transactions/positions by their respective markets.
About CUSIP Global ServicesFor 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by S&P Capital IQ. For more information, visit www.cusip.com .About CICI UtilityDTCC and SWIFT jointly operate the CICI Utility, designated by the CFTC as the source of CICIs. Almost 50,000 CICIs have been issued and, under CFTC rules, all swap counterparties subject to CFTC jurisdiction must have self-registered or self-certified CICIs by April 10, 2013. For more information, visit: www.CICIUtility.org or email: email@example.com. SOURCE CUSIP Global Services