RBI moots legal entity identifier for bond, money markets by October end

RBI in its draft plan has said participants, other than individuals, undertaking transactions in the markets it regulates shall obtain LEI codes as in the schedule

The Reserve Bank of India (RBI) suggested a road map to implement the legal entity identifier (LEI) code for entities trading in government securities and money markets by the end of October. For foreign exchange markets, by end-January 2019. LEI is a 20-character unique identity code, assigned to entities which are parties to a financial transaction. It was conceived as a key measure to improve quality and accuracy of financial data systems, in the wake of the global financial crisis.

RBI in its draft plan has said participants, other than individuals, undertaking transactions in the markets it regulates shall obtain LEI