Business Wire

 GLEIF Confirms J.P. Morgan as First Validation Agent in the Global LEI System

Share

The Global Legal Entity Identifier Foundation (GLEIF) today announces that J.P. Morgan has become the first Validation Agent in the Global LEI System.

The Validation Agent Framework, announced by GLEIF in September 2020, enables financial institutions to improve their customer experience, accelerate client lifecycle management and reduce costs by using ‘business-as-usual’ know-your-customer (KYC) and anti-money laundering (AML) onboarding procedures to facilitate LEI issuance for their clients.

J.P. Morgan and LEI issuer, Business Entity Data B.V. (BED), a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC), have together issued the first LEI under the new Validation Agent model, via BED’s GMEI Utility service.

J.P. Morgan’s Managing Director, Reference Data Strategy, George Brandman, comments: “Working as a Validation Agent will allow us to improve our client onboarding experience as well as create valuable industry LEI reference data. If a majority of financial institutions implemented this service, it would greatly multiply the number of LEIs in production to the benefit of all.”

“DTCC is pleased to issue the first LEI via the Validation Agent model for J.P. Morgan, leveraging our GMEI Utility,” adds Matt Stauffer, Managing Director and Head of Institutional Trade Processing at DTCC. “Our collaboration with J.P. Morgan demonstrates the additional efficiencies that can be achieved through broader utilization of LEIs and supports our core mission of bringing increased efficiency and resiliency to the industry.”

Stephan Wolf, CEO, GLEIF, comments: “By becoming Validation Agents, financial institutions realize a range of operational and strategic benefits, both now and in the longer-term. Not only can J.P. Morgan streamline its client onboarding and lifecycle management processes, thereby improving its customer experience, it can also use the LEIs in innovative service offerings.”

As well as delivering a faster, more convenient customer experience, Validation Agents can also capitalize on new opportunities to add client value and achieve market differentiation. By expanding LEI issuance beyond clients that require an LEI for financial compliance, a Validation Agent can equip its whole business client base with globally recognized identities that can be leveraged in new services and across borders with any counterparty or supplier around the world.

“Increasing LEI volumes and broadening their usage will solve the issue of trust in financial transactions globally,” adds Wolf. “Validation Agents like J.P. Morgan will play a key part in making this vision a reality. They contribute to growth across the entire financial ecosystem and ultimately will benefit all stakeholders and the broader global economy.”

For more information on the Validation Agent role, please visit the GLEIF website.

- ENDS -

Full resolution images and logos can be downloaded via this link
https://www.gleif.org/en/newsroom/gleif-graphics-images

Relevant link
https://www.gleif.org/en

Source:
Global Legal Entity Identifier Foundation, St. Alban-Vorstadt 5, 4052 Basel, Switzerland
Chairman of the Board: Steven Joachim, CEO: Stephan Wolf
Commercial-Register-No.: CHE-200.595.965, VAT-No.: CHE-200.595.965MWST
LEI: 506700GE1G29325QX363

: http://bit.ly/1OXTYLo | : http://bit.ly/1Me7uZx | GLEIF Blog: http://bit.ly/1LylXkn

Contact information

Elisabeth Dean / Ellie Bokros, iseepr
elisabeth@iseepr.co.uk / ellie@iseepr.co.uk
+44 (0) 113 350 1922

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Luxembourg to Start Real Life Testing of an International Standard for a Digital Circularity Fingerprint for Products27.11.2020 14:00:00 EETPress release

The Ministry of the Economy of Luxembourg just launched phase two of the development of an international standard. It provides information on the circularity of products to all stakeholders involved along their value chains. A first viable version of the standard is being tested in real life, allowing to identify the most suitable governance model, the audit scheme and reliable IT systems for its management. Luxembourg started the Circularity Dataset Initiative in 2018 to address the difficulty for industry and consumers to access reliable data on the circular properties of a product. A lot of circularity information is missing, as its generation and handling requires too many human and financial resources. Furthermore, trade secrets are hindering transparency and reporting standards are lacking, forcing manufacturers to send out different data sets in diverse formats to customers and product platforms. To tackle these challenges, the Luxembourg government is working with multinational

Chengdu Continues to Enhance Trade Links and Cultural Exchanges to Expand Circle of Friends Around the World27.11.2020 12:24:00 EETPress release

The Chengdu-Europe railway line spans over 10,000 kilometers across countless rivers and mountains, transporting goods to vast numbers of people across the Eurasian landmass. With increased trade, cultural links between Chengdu and Europe are also growing stronger. Against this backdrop, Chengdu-Eurasia National Pavilion Cluster (CENPC) has emerged in the Qingbaijiang District of Chengdu to further promote trade and cultural exchanges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201127005270/en/ Head of CENPC’s pavilion for France and the Netherlands Xu Dandan at work (Photo: Business Wire) CENPC is an important platform for trade exhibition and cultural exchange between countries along the Belt and Road. With trade promotion as a foundation, the project, which is expected to feature over 40 national pavilions, aims to deepen Sichuan’s global cooperation in fields such as culture, talent, education, and science and techno

Chengdu-Europe Railway Adds Momentum to Chengdu's Rise as an International Hub, Leading to Closer Cooperation Between Chengdu and Tilburg27.11.2020 12:14:00 EETPress release

Chengdu in China's Sichuan Province and Tilburg in The Netherlands, the two cities at the opposite ends of the Eurasian landmass, are now closely connected via an intercontinental railway that spans nearly 11,000 kilometers. In a recent interview with Xinhuanet, Roland Verbraak, general manager of GVT Group of Logistics - the Dutch partner of the Chengdu-Europe Railway, praised: "Not only are our relationships with Chinese partners getting closer, but the two cities of Chengdu and Tilburg have also become sister cities. Chengdu's international development is progressing well at a rapid pace." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201127005267/en/ Roland Verbraak, general manager of GVT Group of Logistics (Photo: Business Wire) Goods shuttling along the Chengdu-Europe Railway line have not only spurred economic growth in China and The Netherlands but also deepened links between Chengdu and places along the route, add

REPLY: Reply enters into eSports27.11.2020 11:00:00 EETPress release

Reply, on the eve of Milan Games Week, announces its entry into eSports in collaboration with Totem eSports, a project born in 2019 that spent the year battling its way through the most competitive titles of the main ESL circuits, which for the 2021 season will be renamed Reply Totem eSports. The Reply Totem eSports team, thanks to the experience gained by its young talents at national and international level, will compete in the next season in the ESL EVC circuits on the mobile titles including Clash Royale, Brawl Stars and on a series of other titles, ranging from sports such as FIFA to FPS and strategic cards. Reply's entry into eSports is part of a wider range of initiatives aimed at supporting young technology enthusiasts. With this collaboration, Reply, which already operates in the gaming sector with Game Studio and B2B initiatives, enters a market in continuous growth, that symbolizes the impact of digitalization in all sectors. Filippo Rizzante, Reply's CTO, commented: "The eS

Vertex Announces European Commission Approval for SYMKEVI® (tezacaftor/ivacaftor) With KALYDECO® (ivacaftor) for Eligible Children With Cystic Fibrosis Ages 6-11 Years27.11.2020 11:00:00 EETPress release

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the European Commission has granted approval of the label extension for SYMKEVI® (tezacaftor/ivacaftor) with KALYDECO® (ivacaftor), to include the treatment of cystic fibrosis (CF) in patients ages 6 years and older who have two copies of the F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene or one copy of the F508del mutation and one copy of one of 14 mutations in the CFTR gene that result in residual CFTR activity: P67L, R117C, L206W, R352Q, A455E, D579G, 711+3A→G, S945L, S977F, R1070W, D1152H, 2789+5G→A, 3272-26A→G, and 3849+10kbC→T. “With this approval, children with CF in Europe ages 6 to 11 years with the most common mutation, F508del, have a new treatment option and children with certain residual function mutations will, for the first time, have a treatment option available that addresses the underlying cause of their CF,” said Reshma Kewalramani, M.D., Chief Executive O

Thales to Deliver the World’s First Fully Integrated Unmanned Mine Countermeasures System for the Royal Navy and French “Marine Nationale”26.11.2020 22:55:00 EETPress release

Following the first phase of the program in which two demonstrators have successfully proven their operational performances at sea, France and the United Kingdom marked the tenth anniversary of the Lancaster House treaties by signing a joint contract for Thales to start the production phase of MMCM to deliver eight unmanned mine hunting systems (four for France and four for the United Kingdom). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005783/en/ MMCM system at sea ©Thales With the threat of mines and improvised explosive devices present in all conflicts involving naval forces, countries need to strengthen the protection of their maritime domain, to ensure the protection of their assets and to safeguard the freedom of civil navigation. At the same time, it is essential to limit human exposure to mines. With 50 years of expertise serving navies around the world, Thales develops technologies that enable the transiti

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom