Bloomberg Releases New Common Data Format 3.1 Dataset for Legal Entity Identifiers

Bloomberg has released the New Common Data Format 3.1 for Legal Entity Identifiers (LEIs) and received a second accreditation as an LEI issuer for funds. As an accredited Local Operating Unit of the Global LEI System, Bloomberg can issue and maintain LEIs through its web portal lei.bloomberg.com or on The Bloomberg Terminal at LEI <GO>. To streamline capturing the new data requirements of CDF 3.1, Bloomberg revamped its LEI web portal with an enhanced user experience, additional functionality and greater storage capacity. This newest Common Data Format, published by the Global LEI Foundation, now includes six Entity Category data fields that depict the type of legal entity, such as investment fund or government entity, as well as residential government entities, types of fund relationships and corporate events like name or address changes. By including these new categories, firms are better able to understand their exposure to different types of legal entities, ensure they are meeting Know Your Customer (KYC) requirements and have access to meta data for onboarding clients.