SWIFT to continue to issue business entity identifiers:

09/21/2011 | Securities Technology Monitor

SWIFT said that although new global legal-entity identifiers are in the works, its business identification codes aren't going away. "We will continue to issue BICs in conjunction with LEIs and cross-reference the two ID codes," Paul Janssens, head of SWIFT's LEI project, said at the Sibos conference this week in Toronto. In a panel discussion at the conference, SIFMA's Tom Price reiterated that LEI standards will be a key tool to help firms better manage risk and also increase operational efficiencies. Read his full remarks. Learn more about LEI.

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