Meeting minutes status: Draft (pending approval)
Table of Contents
Date/Time
5th March 2019, 11:00 AM EST
Attendees
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@Sailesh Pandey | Nomura |
@Benjamin Sandler | AQR |
Pascal Lefrancois | Innovestor |
Jeffrey Stein | Morgan Stanley |
John Matera | FactSet |
@Leslie Spiro | Tick42 |
@Rob Underwood (Deactivated) | FINOS |
@Tosha Ellison | FINOS |
Outstanding Action Items
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Agenda
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5 min | Convene & roll call | Sailesh (Nomura) | |
15 min | Draft Roadmap | Sailesh (Nomura) | Security Reference Data Project Roadmap |
20 min | Updates on the meeting with Jade from Open Corporate and Next steps for our group | All | Open Corporates Discussion: Conversation with Jade from Open Corporates confirmed that they don't support a hierarchy, except where this may be included in the feed they receive from any of their official sources. They do have relationships with some vendors but not Bloomberg or Refinitiv. There is significant upfront operational work to match Open Corporates to a hierarchy but once established is maintainable.
LEI Discussion: Any company can get an LEI and any company who is an authorised registrar can issue LEI codes LEI has data on two levels with basic information on the first level and company hierarchy info on the 2nd. Suggested looking at LEI.bloomberg.com Question about where it would be possible to see all LEIs and Pascal offered to do some investigation about where and how this info might be published. Bloomberg may not cover LEIs for all companies as most they don't track much on private companies. Question whether BBG has the LEI code for all issuers or only the parent in the hierarchy. Unsure about full coverage with the expectation that Europe may be reasonable thanks to MiFID and US has some coverage. Unsure about Asia and South America. LEI may have more relevant coverage for this effort that Open Corporates with primary focus on securities, bonds and hierarchy (related entities parents/children of those entities).
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10 min | Creation of static for Agency Bonds | All | LEI may be a potential solution for this as well. Sailesh suggested that a useful way forward would be for those interested to come up with a use case and a high level block diagram of what is done within his/her firm. Essentially outlining the process within different firms so the group could then analyze. |
5 min | AOB & adjourn | | Decisions Made |
Action Items