FOR IMMEDIATE RELEASE
12 May 2016, New York & London: Regulatory SaaS technology leader Opus announced today that Alacra, its Know Your Customer (KYC) and reference data management platform for financial institutions, has issued the latest edition of Inside the LEI issue IX, its regular newsletter on Legal Entity Identifiers (LEIs).
Inside the LEI is a quarterly newsletter that analyzes the LEI database and the progress made in LEI registrations around the world. The current issue takes a close look at the penetration of the LEI among important market participants, such as subsidiaries of the world’s biggest banks and regulated entities. The key points are below:
- Only 13% of the universe of almost 250,000 listed, rated, and regulated financial market entities have LEIs.
- Overall lapse rate has increased to 27% from 24% in January.
- Of the seventeen largest regulators in the G-20 and/or EU, BaFin (Germany) is the only regulator with LEIs assigned to more than 50% of entities.
Alan Samuels, Vice President of Alacra Reference Data Services, says: “Market participants understand the value of the LEI, yet the banks we’ve analyzed only requested LEIs for 5-15% of their own corporate hierarchies, which is very disappointing. Hedge funds are in the same boat, with only 42% of the top 200 global hedge funds having requested an LEI.” He adds: “The overall lapse rate is also something that needs to be tracked carefully – while 20,000 new LEIs have been issued in the last quarter, around 15,000 have not been renewed.”
Since LEI registration began in 2012, around 430,000 LEIs have been assigned. In the last quarter, the LOUs issued just over 20,000 new LEIs. Issuance continues to be driven by a small number of LOUs, with over 85% of the new LEIs issued by only 4 LOUs: GMEI (US), WM Datenservice (Germany), London Stock Exchange (UK) and Unione Italiana per le Camere di Commercio, Industria, Artigianato e Agricoltura (Italy).
Alacra will be presenting its latest analysis of LEI issuance at a webinar on May 17th. Please join us Webinar: Inside the LEI
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Alla Lapidus / John Norris
Tel: +44 (0) 20 7250 4770
Opus is a compliance platform provider headquartered in Palo Alto, California, created through a $500 million partnership between GTCR, one of the world’s leading private equity firms, and Doug Bergeron, former CEO of VeriFone. Through direct investments and targeted acquisitions, Opus’s mission is to build the world’s leading compliance platform by integrating leading technology solutions addressing the increasingly complex compliance requirements and risks faced by companies across all industries. Currently, these include Alacra KYC/AML and Reference Data business information solutions for large financial services customers, and Hiperos 3PM solutions for large corporate clients across several large end market verticals including energy, financial services, manufacturing, real estate, life sciences, and technology.
About Alacra Reference Data Services
Knowing the identity and characteristics of third parties, customers and counterparties is critical to understanding business risk and meeting regulatory requirements. Alacra Reference Data Solutions transforms, dirty, duplicative and error-filled internal databases into clean, de-duped, enriched and consistently formatted “golden” copies that yield a better understanding of risk and relationships.
For more information about Opus, please visit www.opusglobal.com. For more information on our KYC/AML and Reference Data solutions, please visit www.alacra.com, and for more information on our 3PM solutions, please visit www.hiperos.com.