LEI in U.S. Swap Data Repository Reporting
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In U.S. swap reporting, required data is submitted to a registered swap data repository. The repository validates the submitted fields and returns an acceptance or error message. LEIs identify eligible legal-entity counterparties and certain registered entities. Check the correct LEI, entity information and current status before submitting the report.
How U.S. Swap Data Repository Reporting Works
The reporting party submits the required swap or security-based swap data to the appropriate registered repository. The repository applies the relevant reporting specifications and validation procedures, then provides an acceptance or error message. If the submission fails a required validation, the reporting party must correct and resubmit the affected data.
Where Is the LEI Checked?
The LEI is checked within the required entity-identification fields during submission. The repository applies the current technical specification and its approved validation procedures. If a required LEI is missing, incorrectly formatted or otherwise fails validation, the submitter receives an error message and must correct the report.
How to Avoid LEI-Related Reporting Errors
Before submitting a report:
- Search the legal entity and confirm its exact LEI.
- Check that the LEI belongs to the correct reporting entity or counterparty.
- Review the legal name, registry information and current status.
- Check the Next Renewal Date.
- Renew or update the existing record before the deadline when current data is required.
- Confirm the latest validation rules of the receiving repository.
Check, Renew or Register the Reporting Entity’s LEI
Search the reporting entity or counterparty before applying. If an LEI already exists, renew, transfer or update that record instead of creating a duplicate identifier.
Apply for your LEI
Transfer (free)
Renew
Get your LEI
Fast-Track LEI issuance in 2 to 4 UK working hours is available subject to data completeness, applicant authority, and successful compliance validation. Transfers from another GLEIF-accredited LOU are free.
Frequently Asked Questions
It depends on the reporting regime, product and repository used by the reporting party. The CFTC maintains information on registered swap data repositories, while the SEC separately maintains information on registered security-based swap data repositories.
The required LEI fields are checked during submission as part of the repository’s validation process. The submitter receives an acceptance or error message after the validation is performed.
A Lapsed status means that the LEI record is overdue for renewal and its reference data has not been revalidated within the planned interval. Confirm the receiving repository’s current validation requirements and renew the existing LEI before the deadline when current status is required.