All prices listed are inclusive of GLEIF and registration fees.
What is an LEI?
A Legal Entity Identifier (LEI) is a 20-character identifier that represents a distinct legal entity engaged in financial transactions. Defined by the ISO 17442 standard, its purpose is to be “the one identity behind every business”.
The LEI is a global standard designed to identify legal entities involved in financial transactions and other valued transactions between corporations or legal entities.
Do I need an LEI?
As of the 3rd of January 2018, LEI’s are mandatory for trading entities. The European Union (EU) revised Markets in Financial Instruments Directive (MiFID II) and accompanying regulation (MiFIR) came into effect on this date and affects trading venues, investment firms and their intermediaries.
With regard to transaction reporting under MiFIR, the European Securities and Markets agency have clarified that investment firms should obtain LEIs on behalf of their clients before providing services which would trigger reporting obligations for transactions made on behalf of a firm’s clients.