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Most companies understand that all legal entities trading OTC derivatives are required to obtain a Global Market Entity Identifier (GMEI) and the consequences that could result from failing to obtain one.
Since 2012, the GMEI has been associated with Level 1 data commonly referred to as “who is who”, identifying which entity is trading under which GMEI.
As of May 1, 2017, the GMEI will now be associated with Level 2 data, which identifies “who owns whom,” to provide an understanding of what larger entities are operating under several different GMEIs (the direct and ultimate parents of a legal entity).
This gives governing bodies the ability to get a more complete picture of familial risk, creating a more transparent marketplace than the one that led up to the financial crisis of 2008.
LEARN MORETo learn more about how we can help you better manage your GMEI needs, contact a CT representative at 844-201-2511
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