DTCC's Global Markets Entity Identifier (GMEI) utility, developed in conjunction with SWIFT, enables the industry and regulators to solve a long-standing, two-part problem: how to create and maintain unique codes to identify financial market participants, also known as legal entity identifiers, and how to make the resulting data readily accessible to financial institutions, regulators and others. DTCC's GMEI utility provides this solution. Formerly known as the CICI Utility, it is a key component of systemic risk monitoring capabilities for global regulators and a strong counterparty risk management tool for financial firms.

CICI Portal by Country
  • In 2013, DTCC's GMEI utility earned recognition and endorsement at a global level by the Regulatory Oversight Committee (ROC), the global group of 58 regulators established by the Group of 20 (G20) and the Financial Stability Board (FSB) to oversee development of the Global LEI System. The ROC endorsement recognized DTCC's unique identifiers as pre-LEIs that would be accepted by each of the 58 ROC regulators, allowing the utility to function as a pre-Local Operating Unit within the Global LEI System. Once the ROC states that the Global LEI System is fully operational, all endorsed pre-LEIs will be called LEIs and the pre-LOUs will be referred to as LOUs.
  • By the end of 2013, DTCC's GMEI utility contained more than 96,794 globally accepted registered entities from over 140 countries. With nearly 20% of the registrations from Europe alone, the utility has emerged as the largest pre-Local Operating Unit within the Global LEI System.
  • The GMEI utility continued to leverage the intellectual property of DTCC's award-winning subsidiary Avox, Ltd. to match, enrich and maintain top-quality legal entity reference data. In 2013, for the fifth year in a row, readers of Inside Reference Data named Avox the world's "Best Counterparty Data Provider." The company was also given the "Best Legal Entity Identifier Data Solution" award by readers of Reference Data Review, Risk-Technology.net and BigDataForFinance.com.

SECURING
TODAY

DTCC continues to respond to the financial service industry's evolving needs with advanced solutions to secure today's financial marketplace and drive future growth. One example of this effort is DTCC's GMEI utility, which is designed to give the industry a reliable and data-rich legal entity identifier solution increasingly required for regulatory reporting. In 2013, the GMEI utility saw an impressive 50% growth by registering nearly 50,000 entities. This growth underscores the industry's confidence in DTCC's longstanding ability to improve transparency, efficiency and risk mitigation in the global marketplace.

SHAPING
TOMORROW

While the primary purpose of the GMEI utility is to enable regulators to improve their systemic risk management capabilities, many financial firms have begun using pre-LEIs and the associated reference data to enhance their internal risk analysis. For example, although it was not specifically designed as a solution for "Know Your Customer" requirements or client onboarding, these identifiers are becoming a significant component of the process many firms now use to perform those functions. As more companies and vendors adopt pre-LEIs, the entire financial community will be in a better position to determine how broadly these identifiers can be used, whether as part of market research or analysis – or both.