Reuters/Mike Segar
Reuters – By Huw Jones – June 8, 2012
(Reuters) – A global system to tag trades in stocks, bonds and derivatives that would help authorities spot risks and market abuse must be in place by March 2013, regulators said on Friday.
The Financial Stability Board (FSB), a regulatory task force working for the G20, spelt out how a global Legal Entity Identifier or LEI system would work.
One of the G20’s major reforms in the wake of the financial crisis, it will require each firm that trades on financial markets to have a unique identifier so that regulators can quickly check a bank’s or dealer’s overall exposure across asset classes.
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