Latest news with #LegalEntityIdentifier
Finextra
09-07-2025
- Business
- Finextra
TradeGo becomes fully qualified vLEI issuer
The Global Legal Entity Identifier Foundation (GLEIF) today announces that TradeGo Pte. Ltd., a Singapore-based digital platform for commodity trade, has been approved as a Qualified vLEI Issuer (QVI) within the verifiable Legal Entity Identifier (vLEI) ecosystem. 0 TradeGo is a Singapore-based digital platform for commodity trade jointly established by major industry players, financial institutions, shipping companies, and technology firms. This milestone strengthens efforts to build a transparent, efficient, and interoperable international trade environment by equipping TradeGo to issue cryptographically verifiable organizational identities. Users of the TradeGo platform span industry players across bulk commodities, shipping, and finance. By embedding vLEI credentials across its blockchain-based solutions - which include electronic bills of lading (eBL), e-contracts, digital payments, and electronic bunkering - TradeGo aims to simplify cross-border commodity trading, shipping, and payments. This reduces fraud risk, lowers compliance costs, and supports alignment with emerging regulatory frameworks promoting trade digitalization - including Singapore's Electronic Transactions Act and the UK's Electronic Trade Documents Act. TradeGo's integration of vLEI credentials builds on its platform's digitalization capabilities to deliver significant operational benefits. Data from TradeGo's pilot and pre-qualification scenarios showed that its solutions can cut digital payment compliance costs by up to 90 percent, reduce manual operations by 80 percent, and increase trade document processing efficiency by over 60 percent. These initial outcomes illustrate the transformative potential of combining blockchain-based trade solutions with globally verifiable digital identities as TradeGo begins full-scale vLEI credential issuance. Looking ahead, achieving QVI status forms part of TradeGo's broader ambition to create a trusted global digital ecosystem linking identity, business, and data - known as GIFTS (Global Inter-entity Financial and Trading Society). Alexandre Kech, CEO of GLEIF, said: 'TradeGo's approval as a QVI is a powerful endorsement of the role the vLEI can play in addressing the long-standing identity and compliance challenges that have constrained cross-border trade - creating significant fragmentation and inefficiencies. By integrating the vLEI as a globally standardized, cryptographically verifiable organizational identifier into blockchain-enabled solutions, TradeGo is overcoming these barriers and demonstrating what the future of trusted digital trade looks like.' Mr. Yu Yingjiao, CEO of TradeGo, commented: 'This milestone reinforces TradeGo's mission to build a seamless and trusted digital trade environment. By embedding vLEI credentials across our platform, we are creating a foundation for truly interoperable global trade, where one identity supports participation across ecosystems. We welcome partners to join us on this journey.' Xu Jun, Vice Chair of the ICC Banking Commission Steering Committee, added: 'The ability to verify cross-border entities instantly is essential for reducing KYC costs and eliminating fraud risks in trade finance. Integrating the vLEI across TradeGo's ecosystem offers a credible, forward-looking solution for the industry.' GLEIF encourages participants across the global trade and finance ecosystem to explore how the vLEI, combined with innovative platforms like TradeGo, can support more efficient, transparent, and secure global trade.
Yahoo
16-06-2025
- Business
- Yahoo
BNP Paribas share buyback programme - Declaration of transactions in own shares from June 9, 2025 to June 13, 2025
BNP Paribas share buyback programme Declaration of transactions in own shares from June 9, 2025 to June 13, 2025 PRESS RELEASE Paris, 16 June 2025 In accordance with Article 5 of Regulation (EU) No 596/2014 on Market Abuse and Article 3 (3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory technical standards concerning the conditions applicable to buyback programs and stabilization measures, BNP Paribas informs the market of the following transactions in own shares: Name of issuer Identification code of issuer (Legal Entity Identifier) Day of transaction Identification code of financial instrument Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares * Market (MIC Code) BNP PARIBAS R0MUWSFPU8MPRO8K5P83 09/06/2025 FR0000131104 24 078 78,2285 AQEU BNP PARIBAS R0MUWSFPU8MPRO8K5P83 09/06/2025 FR0000131104 136 184 78,2271 CEUX BNP PARIBAS R0MUWSFPU8MPRO8K5P83 09/06/2025 FR0000131104 17 561 78,2271 TQEX BNP PARIBAS R0MUWSFPU8MPRO8K5P83 09/06/2025 FR0000131104 375 091 78,2390 XPARTOTAL 552 914 78,2352 The share buyback programme announced on 19 May 2025 was completed on 9 June 2025. 14,025,914 shares were repurchased at an average price of € 77.29 per share, for a total amount of EUR 1.084 shares bought back under this programme will be cancelled. The description of the share buyback programme is available on BNP Paribas's website: Attachment Share buyback - declaration of transactions in own shares from 9 June to 13 June 2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
08-06-2025
- Business
- Hans India
How Legal Entity Identifiers Help Prevent Financial Fraud in Emerging Markets
Imagine trying to fight fraud when you cannot even verify who is involved in the transaction. That is the reality for many financial systems in emerging markets today! The budding digital transformation and global trade participation in emerging economies often brings a lack of transparency in business dealings. Fraudsters often try to exploit these gaps with fake companies and complex ownership structures that are difficult to trace. These situations call for a system to identify legal entities. LEI - Legal Entity Identifier brings clarity to complex financial transactions. You can call it a digital passport for businesses to make it possible to know exactly who you're dealing with. This blog will cover how LEI can help financial fraud prevention in emerging markets and bring transparency to the fraud-resistant financial scenarios. Understanding the Fraud Challenge in Emerging Markets Emerging markets are full of potential and economic growth but still face significant obstacles in fighting financial fraud. These economies often witness rapid digital technology adoption and increased trans-border commerce with budding financial systems. All of that, if not properly managed, can provide fertile ground for fraud. The common schemes include trade-related money laundering, invoice fraud, misuse of shell companies to conceal ownership and more. One of the major obstacles lies in the absence of accountability in corporate structures. A majority of businesses operate under minimal surveillance from the regulator which makes it challenging for financial institutions to carry out due diligence. You can also witness inconsistencies in data sources like Know Your Customer and Anti-Money Laundering frameworks. Many emerging markets heavily depend on informal markets where transactions often go unrecorded and unregulated. This can lead to vulnerabilities and hampers effective monitoring and enforcement. As these markets integrate in the financial system worldwide, the need for standard authentic identity solutions is crucial to decrease the fraud risk and ensure a secure space for the financial system. Ways in Which LEI Helps Prevent Financial Fraud By Establishing Verified Identity LEI serves as an excellent way to prevent fraud as it gives a verified and standardized identity for legal entities. Every LEI links to a reference data which includes official name, registration number, ownership structure and more about the entity. This helps to eliminate the confusion that is often utilized by fraudsters who employ similar or false names to trick investors or financial institutions. In the scenario of emerging economies, many companies might not identify digitally or easily traceable. LEI can serve as a trusted identity anchor in these situations. It helps for Know Your Customer and Anti-Money Laundering procedures by ensuring that financial institutions can distinguish legitimate entities from high-risk or fraudulent ones. Bringing Transparency in Cross-Border Transactions Emerging market economies often depend on international trade and cross-border capital flows. These transactions involve multiple parties from different countries which makes it hard to determine the identities of everyone involved. LEI is a tool for improving financial transparency and confirming the identities of partners from abroad with high certainty. LEI establishes a standard identity framework that applies to all different jurisdictions. This clear identification makes it harder for fraudsters to hide behind fake company names or set up shell companies. It ensures an honest global financial system and makes it more difficult for people to move money illegally across borders. Focusing on Risk Management for Financial Institutions Financial institutions and banks that operate in emerging markets might face a risk of getting themselves exposed to credit and counterparty risks. It happens due to the limited information available about the financial health of a prospective client and credibility. By having LEI in their risk management strategies, they can access the accurate and standardized information about the organizations they are doing business with. This reduces the risk of accepting fraudulent clients and making it easy to detect irregular patterns in transactions. Regulators can use LEI information to detect the clusters of related entities that can expose fraud or money laundering networks that might remain undiscovered otherwise. Regulatory Synergy and Cross-Border Enforcement LEI brings consistent identification of entities across all regulatory bodies and jurisdictions. This supports global cooperation to combat financial fraud. Regulators can connect entities that operate under different names across multiple countries and identify fraud networks with streamlined investigations. LEI makes it simple to exchange data between countries which helps authorities in responding to complicated and multinational financial crimes more efficiently. This is particularly beneficial for emerging markets looking to align with international financial standards and to bring effective participation in the global financial system. Supporting Digital Transformation in Governance When emerging markets begin to digitize the public sector, LEI gives an authentic layer of legal identity to business entities on digital platforms like tax systems and regulatory filings. They ensure that only verified businesses can use government systems which minimizes fraud in subsidies and contracts. LEI encourages open data initiatives that bring more accountability and oversight. With its integration into electronic governance systems, nations can focus on increasing transparency and fight corruption. This can let them have more effective and secure public and financial infrastructures. Challenges in LEI Adoption in Emerging Markets Perceived Complexity and Cost: Small businesses often view LEI as an additional bureaucratic burden or unnecessary expense, majorly when they are not mandated locally by authorities. Regulatory Gaps: Many emerging economies do not ask for LEI or its enforcement in various industries. This results in unintended use and low incentives to ensure compliance. Limited Infrastructure: In some regions, you can find, digital systems for entity registration and verification are under development which makes LEI issuance and maintenance process more difficult. Overcoming These: Government and Regulatory Mandates: Financial regulators and central banks require LEI in certain transactions like high-value payment or cross-border transactions. These specific mandates ensure compliance and help to build momentum. Public Awareness Campaigns: Educational programs can help understand the LEI and emphasize their advantages in enhancing compliance and reducing the fraud risk. Incentivizing Adoption: Banks and governments can provide benefits, including faster onboarding times or fewer documentation requirements for organizations that hold active LEI. Simplifying the Process: Collaborating with local registration bodies and including LEI in existing national business registers can speed up the process of issuance and update. Conclusion In the fight against financial fraud, LEI gives a powerful solution by assigning every legal entity a globally recognized ID. It shines a light on the often tricky world of corporate ownership and financial activity. Knowing your counterparties can make or break a deal which makes LEI not just helpful but essential.
Finextra
27-05-2025
- Business
- Finextra
Gleif establishes partner programme
The Global Legal Entity Identifier Foundation (GLEIF) today launched the GLEIF Partners Program, a new global initiative fostering increased collaboration among key stakeholders to accelerate the adoption of the Legal Entity Identifier (LEI) and verifiable LEI (vLEI) across sectors. 0 GLEIF's Partners Program creates a unique forum for data and technology vendors, financial institutions, corporates, certification authorities, and trust service providers that brings together key stakeholders to develop high-value offerings by leveraging the technology and strategic importance of the LEI and vLEI. The innovation led by GLEIF partners will be key to advancing a more trusted global economy. 'Building a more open and transparent global marketplace is dependent on interoperable, verifiable organizational identity,' comments Alexandre Kech, CEO at GLEIF. 'The LEI and vLEI provide significant opportunities to enhance transparency and build greater trust across global markets. By convening organizations from across the world with a shared mission of improving digital trust and maximizing the utility of the (v)LEI, the program promises to enable invaluable exchanges that will advance secure and transparent business interactions - promoting sustainable growth across the global digital economy.' Global organizations that have recently joined the GLEIF Partners Program include JacobsenID, a Nordic identity assurance service provider interested in enabling vLEI use cases, Montran, a provider of payment and capital market infrastructure solutions operating in over 90 countries, and NETS Solutions, a specialist in payment and securities settlement solutions for central banks. NETS Solutions, part of the Singapore-based payment services NETS Group, extends GLEIF's strategic focus and sustained engagement in the APAC region. The new program also integrates members from previous GLEIF's stakeholder groups to foster greater collaboration between longstanding stakeholders and new partners. 'Montran is honored to be among the inaugural members of the GLEIF Partners Program. Since the inception of the Legal Entity Identifier as an international standard, we have integrated it into our solutions for payments and capital markets, supporting many of our clients in its implementation. We look forward to expanding our collaboration with GLEIF across various instruments and transaction types, learning from other partners' best practices, and sharing our own - in a true spirit of cooperation,' says Matthieu de Heering, Global Head of Business Development, Capital Markets at Montran. 'Our partnership with GLEIF marks a significant milestone in NETS Solutions' mission to deliver robust, future-ready solutions in payments and securities settlement. Supporting the use of Legal Entity Identifiers ensures our clients benefit from globally recognized, verifiable company identities, streamlining onboarding, KYC, and risk management processes,' comments Saw Choo Tatt, CEO, at NETS Solutions. GLEIF encourages any organization that uses or plans to integrate LEI or vLEI data into their operations to join its Partner Program. Key benefits include: • Exclusive Product Listings: Promote your (v)LEI-enabled offerings on a trusted platform, connecting directly with data consumers. • Global Visibility: Gain exposure through GLEIF's global network, engage with industry leaders and contribute to strategic developments within the Global LEI System. • Strategic Engagement: Access exclusive market insights, regulatory updates, and industry best practices. Eligible stakeholders, including those already active in GLEIF's existing stakeholder groups, will automatically be enrolled. New participants can join via or by contacting info@ 'The GLEIF Partners Program is essential in bridging the digital identity gap for legal entities around the world. This initiative goes beyond promoting the LEI and vLEI - it is about building a community of practitioners who understand their practical value. From streamlining client onboarding to expanding access to trusted identity credentials globally, GLEIF Partners are delivering real-world benefits,' comments Guillermo De la Fuente, SwissTreasurer, and Co-chair of GLEIF's Partners Program. 'The GLEIF Partners Program brings together a powerful network of organizations committed to enhancing global transparency, trust, and interoperability. At XBRL, we are proud to support this initiative, which aligns closely with our mission to improve the accessibility and reliability of business information in the digital economy,' says John Turner, CEO, XBRL International, and Co-chair of GLEIF's Partners Program. While participation in the GLEIF Partners Program is free, our Contributions & Sponsorship Framework provides partners with the opportunity to amplify the program's impact, foster collaboration, and support key initiatives that strengthen the Global LEI System.
Finextra
21-05-2025
- Business
- Finextra
Gleif and Finternet Lab partner on digital ID and transaction infrastructure
The Global Legal Entity Identifier Foundation (GLEIF) and Finternet Lab, an initiative of the Networks for Humanity Foundation (NHF), have officially entered into a Memorandum of Understanding (MoU) to collaborate on the development and deployment of trusted, open, and interoperable digital infrastructure. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Addressing gaps in identity verification, data provenance, and interoperability across emerging digital ecosystems is an increasingly urgent priority for industry participants. The collaboration between GLEIF and Finternet Lab reflects a shared commitment to overcoming these challenges by enabling secure, verifiable identity and transaction systems – fostering greater trust and participation across the global digital economy, supporting sustainable and resilient economic growth. Under the MoU, the organizations will jointly explore pathways for integrating GLEIF's verifiable Legal Entity Identifier (vLEI) credentials with Finternet Lab's suite of open-source tools – including the Universal Information Tokenisation System (UNITS), decentralized identity frameworks (DeDi), and transaction infrastructure protocols. Pioneered by GLEIF as the secure digital counterpart of the Legal Entity Identifier (LEI), the vLEI represents a standardized form of digital organizational identity. By equipping organizations and their representatives with cryptographically verifiable identities, the vLEI offers a comprehensive solution for establishing a global digital trust ecosystem. The partnership will explore and demonstrate the real-world applications of vLEI credentials across various use-cases, including decentralized finance, environmental reporting, and supply chain traceability. Planned initiatives include pilot projects, hackathons, and developer trainings, alongside technical reviews of enabling protocols such as Key Event Receipt Infrastructure (KERI). The partnership also seeks to define common standards and governance models for trusted digital identity layers at scale. Ivan Mortimer-Schutts, Global Head of vLEI, GLEIF, comments: 'GLEIF is committed to partnering with organizations that share our mission of building a foundation of trust in the digital world. This latest collaboration represents a critical step toward realizing a globally interoperable identity layer that serves both legacy and emerging digital ecosystems. By aligning our vLEI credentials with Finternet's open-source tools, we are enabling secure, consent-based data sharing that supports innovation, regulatory integrity, and inclusive and sustainable economic growth.' Siddharth Shetty, Co-Creator, Finternet Lab, comments: "Our collaboration with GLEIF aligns closely with our vision of universal access to trusted, open digital infrastructures. Integrating vLEI credentials into our ecosystem marks an exciting step towards ensuring interoperable, secure identities across diverse digital environments. Together, we are committed to enabling greater economic participation and innovation through robust, verifiable digital frameworks."
