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Sep 18, 2012 • Press Releases

CICI Portal Registers and Certifies Over 1,100 Entities in First Weeks of Operation

New Bulk Registration Method Also Announced

New York, September 18, 2012 – The Depository Trust & Clearing Corporation (DTCC) and SWIFT announced today that their CICI Utility web portal had registered and certified more than 1,100 legal entities since going live on August 21, adding to the 24,000 entities that were pre-established by the CICI Utility.

The CICI Utility, available at, was established by DTCC and SWIFT to provide legal entity identifiers to be used by regulators and the financial industry in the management of systemic risk and related regulatory reporting. The legal entity identifiers issued by the CICI Utility are currently being used to satisfy the requirements of the U.S. Commodity Futures Trading Commission (CFTC), which will begin mandating the use of CFTC Interim Compliant Identifiers (CICIs) for trading in OTC credit and interest rate derivatives after October 12, 2012, and for all other OTC derivatives asset classes after mid-January 2013.

“Given the fact that we began this near the end of August, when many people are on vacation, we were delighted at the strong response we have received so far, and we expect to be registering many more legal entities over the next month before the CTFC’s deadline for reporting begins,” said William Hodash, DTCC Managing Director, Business Development.

The utility also makes available both full and change files for download of the CICI database for free to anyone who registers on the site. To date, there were more than 740 full database downloads and more than 420 downloads of the change file database. The utility also received more than 275 emails to date through their customer service email address,, from users who had inquiries about the CICI Utility service.

“We are glad to report that operations started very smoothly and the activity we see on the portal confirms that the firms are busy preparing and implementing the new identifiers in their own operations,” said Paul Janssens, SWIFT LEI Programme Director.

The CICI Utility also continued to expand its services to help financial market participants register for and access CICIs more effectively. DTCC and SWIFT made a decision to provide the capability for investment fund managers to bulk register their funds, which would also permit a different payment method than use of a credit card.

“One of the key requests we received from customers was for a way to upload a spreadsheet of pre-formatted data that would allow bulk data registrations for fund managers that have hundreds or even thousands of funds to register,” said Ron Jordan, DTCC’s Chief Data Officer. “We decided to make available to those managers a spreadsheet template that they could use to submit all their funds at once, and which would offer a payment method other than credit cards and more suitable for large numbers of registrations.

“This new capability will be provided for those organizations that have a large number of legal entities to register, and who need CICIs quickly so they can meet the requirements of the CFTC for trading OTC credit derivatives and interest rate derivatives in October,” Jordan said. “Ordinarily, the CICI Utility web portal is where we expect firms to go if they require a CICI.” Details on this new feature will be made available shortly through trade associations and on the CICI Utility website.

The CFTC requires major swap dealers and participants to report any trades not only with CICIs for themselves, but also for their counterparties. It also requires all swap counterparties to obtain a CICI as part of the recordkeeping related to such transactions. These rules require that many firms globally will need CICIs to be issued, and they will need to register or certify their information in the CICI Utility database. The CICI Utility currently has more than 25,000 legal entities registered in the databases from more than 80 countries.

The CICI will ultimately transition to the global LEI program, which is being overseen by the Financial Stability Board (FSB) on behalf of the G20 nations.

About DTCC

Through multiple operating facilities and data centers around the world, DTCC and its subsidiary companies automate, centralize, and standardize the processing of financial transactions for thousands of institutions worldwide. With almost 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC processed securities transactions valued at approximately US$1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US$39.5 trillion. DTCC’s global OTC derivatives trade repositories record more than US$500 trillion in gross notional value of transactions made worldwide across multiple asset classes. For more information, visit


SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information, please refer to our website,

Steve Letzler