Thomson Reuters Launches LEI Profiling Service in Preparation for MiFID II

In response to MiFID II’s January 3^rd launch, Thomson Reuters is introducing its LEI Profiling Service, a dedicated solution for financial institutions to perform a health check on their LEI (legal entity identifier) content and help them comply with MiFID II. Thomson Reuters LEI Profiling Service generates client-specific reports that help financial institutions assess the quality of their LEI data held against internal client records in accordance with MiFID II’s reporting requirements – notably a “No LEI, No Trade” stipulation where firms obtain a LEI from their clients for any transaction before they can provide a service resulting in a reporting obligation. It enables them not only to positively identify gaps which need to be closed prior to Jan. 3, 2018, but also affirms data quality within their reportable client universes.