The Society for Worldwide Interbank Financial Telecommunications and Depository Trust & Clearing plan to phase in global entity identifiers, executives said. SWIFT and DTCC will finance the first phase, which is expected to begin in mid-2012 for about 50,000 financial entities, said Ron Jordan, chief data officer at DTCC. "The next phase will depend on the funding we receive," he said. "We can't start an industry utility without the additional funding."
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