Image
March 12, 2012

CICIs: CFTC Interim Compliant Identifiers, Not LEIs

CFTC Announces Process to Designate the Provider of CFTC Interim Compliant Identifiers. As the LEI project won't be complete by the end of June, the CFTC has had a brainwave and offered an opportunity for a firm to run an interim identifier scheme in the meantime. Conditions for bidders include:

  1. The designation process will include an on-site, live demonstration for Commission staff of the process to be used for issuance of CICIs;
  2. The Commission’s designation will have a limited term of two years, and be terminable on six months notice if a different central utility for the global LEI is chosen later through the FSB process and becomes operational; and
  3. The Commission’s designation will require the designated utility to make public all CICI data, operations, identity validation processes and audit trail, and to pass to any successor utility, free of charge, all CICI data and all CICI intellectual property rights.

It's a big ask to create a piece of critical market infrastructure so quickly, and then give away a free option to deliver all the useful data to an LEI based successor with six months notice. I'm bidding a team priced at $100m, anyone want to come in on it?


Popular
Most Viewed

Image

Related Articles


September 15, 2022

Tradefeedr Hires Alexis Fauth as Head of Data Science and Client Analytics




2 MIN



FX


September 6, 2022

Siege FX announces the launch of NetFix




2 MIN



FX


August 2, 2022

OSTTRA and LCH collaborate to reconcile bilateral OTC trade data




2 MIN



Post Trade Processing