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SWIFT introduces Entity Plus Directory in response to regulatory reporting on counterparty transactions

SWIFT introduces Entity Plus Directory in response to regulatory reporting on counterparty transactions

13 October 2015

New SWIFTRef directory identifies entities and cross-references key identifiers to assist with regulatory reporting

Singapore, 13 October 2015 - SWIFT announces the availability of the Entity Plus Directory, introduced to help organisations with their entity data management processes. The tool will help enable compliance with a number of new regulations which require financial institutions to report counterparty transactions, identify entities, calculate risk exposure and cross-reference data.  Through Entity Plus, financial institutions can accurately cross-reference multiple identifiers of an entity in real-time, such as BIC, LEI, GIIN and MIC.

National and international regulatory requirements for transaction reporting require the exact identification of the counterparty, placing a greater need for accurate and high quality entity identifiers. Using data that is updated in real-time through Entity Plus, financial institutions can obtain a consistent view of legal entities helping meet the entity data challenges of regulations such as EMIR, Dodd-Frank, FATCA, AIFMD, MiFID II and MiFIR.

Hervé Valentin, Head of Reference Data at SWIFT, says: “Many of the regulations spawned out of the financial crisis place great emphasis on the identification of legal entities, making compliance with regulatory reporting requirements a critical challenge for financial institutions. The introduction of SWIFTRef enabled us to deliver accurate and comprehensive reference data to our community, and Entity Plus adds another dimension, providing the granular detail that our customers now require to comply with new regulations.”

Entity Plus also enables financial institutions to:

  • Translate different transaction codes to LEI or GIINs for regulatory reporting
  • Match different counterparties’ names such as legal and trade names and their parent and ultimate parent LEI
  • Access a dedicated team monitoring the accuracy of data in real-time to match new LEIs with the existing ones
  • Align data between Entity Plus and SWIFT KYC Registry for deeper compliance information
  • Access hierarchy and ownership information to calculate counterparty risk exposure

Data publication is available as a monthly and daily (2016) file in TXT or XML format, securely and automatically downloadable from SWIFT or delivered directly through FileAct.

For more information about SWIFTRef, visit

About SWIFTRef
SWIFTRef refers to SWIFT’s unique reference data service. Whether you are a financial institution, a corporate, a data or service provider, SWIFTRef offers you a single source for all the reference data you need for a flawless payments process and accurate regulatory reports. If identification and validation of BICs, IBANs,  national bank codes, standing settlement instructions, SEPA routing information or other reference data are challenging you on a daily basis, then discover here how SWIFTRef has it all figured out.

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in more than 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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