We apply bitemporal analysis to more than 500 daily data files supplied by the Global Legal Entity Identifier Foundation to show that churn dominates the dynamics of growth, such that the number of paid up records in full standing has been flat over the last year. Our analysis reveals occasional daily glitches in the past that affected thousands of records. These appear to be in better control now, but a high lapse rate is the primary challenge to the Global LEI System right now

1. Fixing a Leaky Bucket
Observations on the Global LEI System
http://ontology2.com/
May 10, 2016

2. Major points
• The number of paid up LEI registrations has been flat over the last
year
• LEIs attrition is overwhelmingly due to a failure to re-register as
compared to mergers and dissolutions
• Occasional glitches are observed in data supplied by LOUs, such as
disappearing records and invalid status codes, but things are getting
better

3. Methodology
• Ontology2 technology
• Break down conventional data (XML in this case) into facts
• PLUS: Apply a “theory of time and change” to facts
• EQUALS: Bitemporal capability (what did he know and when did he know it?)
• Covers all data from the C-LEI era
• 350x the data volume of other LEI analysis to date!
LMAX Disruptor
Inside
High-speed, High-throughput execution fabric
10 million messages per second+
Batch or interactive execution – keeps several steps ahead of competition
Commonsense knowledge base and rules bend instead of break in face of dirty data
Based on map of problem, automatically constructs and tears down resources in cloud;
multiscale architecture applies common strategies to large and small problems
Exception Handling and Case Management for continuous improvement

4. Issued LEI
records in
good standing
Lapsed LEI
Records
(not renewed)
30,000 records dropped
in one-day glitch
(see next page!)
recordcount

5. From this LOU
30,000 missing records
Glitch tracked down on GLEIF web site

6. RETIRED (out of business)
DUPLICATE (of another record)
MERGED (with another
record)

7. This is a count of invalid LEI record
statusess: these are sometimes
misspelled, such as “ANULLED”
There was a burst of these early on,
but the problem is largely controlled
today.

8. PENDING_TRANSFER
TRANSFERRED
ANNULLED

9. CANCELED
(rare indeed!)

10. Data Dictionary from: