On July 24th, the CFTC issued an Order designating DTCC-SWIFT as the provider of the legal entity identifiers ("LEI"), which will be used by registered entities and swap counterparties in complying with the CFTC's swap data reporting regulations. The CFTC is also participating in an international process, coordinated by the Financial Stability Board, to establish governance principles and reference data requirements and implement a global LEI system. Once the global LEI system is implemented and operational, the CFTC anticipates that the identifier will transition into the global LEI. The designation is made for a limited term of two years, and is subject to four conditions specified in the Order. CFTC Press Release. See also Fact Sheet.