Interested in the real quality of your data?
Is it complete, accurate, valid, consistent etc?
Is your organization at risk?
The LEI population contains about 1.5 million LEIs at the moment, but has a potential of 100s of millions of LEIs. We perform checks in order to improve your LEI coverage. The input for this check could either be a list of ISINs or legal entity names. We see that the coverage is pretty OK for Europe and the USA, but could be much better for the other parts of the world. Based on experience, we can improve the average LEI coverage by 5 to 10%.
Data Vendor Challenging
Get to know the data quality of your vendors. We perform data quality checks on the following dimensions:
We notice that coverage could be improved and we see a significant amount of outdated data. On a daily basis there are 1000s of changes to LEI records, so there’s a need to frequently update e.g. business entity names, entity status and ISIN to LEI mappings.
For regulatory reporting purposes, accurate data as per reporting date is required. We have seen examples of data delivered by vendors that already included changes that were only effective after the reporting date. Within large organization, we have also seen that they have different data vendors delivering the same kind of data, e.g. security information provided by asset managers, custodians and data vendors. We check if there are any inconsistencies between these sources in order to prevent these organization having major consolidation issues in the end in e.g. Solvency II group reporting.