The Financial Instrument Global Identifier (FIGI) has been adopted by Deutsche Bank to identify syndicated loans that sit in collateralized loan obligations (CLOs) and other credit based structures.
POSTED Fri Dec 4, 2015
NEW YORK, Dec. 4, 2015 /PRNewswire/ -- The Financial Instrument Global Identifier (FIGI) has been adopted by Deutsche Bank to identify syndicated loans that sit in collateralized loan obligations (CLOs) and other credit based structures. By adopting FIGI standard, asset managers supported by Deutsche Bank's Corporate Trust businesses now have the ability to easily identify loans and create comprehensive reports to help investors better understand the performance of their investments.
Originating from Bloomberg's Open Symbology, the Financial Instrument Global Identifier (FIGI) is an open data standard and unique identifier of financial instruments that can be used across all global asset classes, including syndicated loans, common stock, options, derivatives, futures, corporate and government bonds, municipals, currencies, and mortgage products. On December 1, The Object Management Group (OMG), a non-for-profit technology standards consortium, officially adopted the FIGI as the standard methodology for identifying financial instruments, such as syndicated loans in CLOs.
"We continue to see the adoption of the FIGI for syndicated loans and the inclusion by Deutsche Bank is further evidence that the industry is looking to deliver more transparency to this market" Mark Betteridge, Global Product Manager, Syndicated Loans Bloomberg.
Bloomberg is the Registration Authority (RA) for FIGIs under the auspice of the OMG. As the RA, Bloomberg serves as both an issuer of new FIGIs and maintains a comprehensive system of record for the more than 280 million registered identifiers in use today. While Bloomberg can provide broad coverage of identifiers for new issues, it also encourages organizations to inquire how they can become involved in the issuance of identifiers for new instruments.
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About the Financial Instrument Global Identifier (FIGI)
The Financial Instrument Global Identifier (FIGI) is an open data standard for identifying financial instruments across all global asset classes. Defined and issued by the Object Management Group, Bloomberg was nominated to be the Registration Authority and a Certified Provider for the standard. The FIGI is a comprehensive, open and unchanging identifier that helps financial market participants, third-party data providers, exchanges, governments, settlement agencies and regulators improve connectivity, interoperability, transparency, and efficiency in the financial market place. The Object Management Group (OMG), is global not-for-profit technology standards consortium.
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