WHAT IS AN LEI NUMBER?
LEI number in simple terms
● LEI number - Legal entity identifier number.
● A unique identification code for entities which trade in financial markets (stocks, bonds, futures, forex, etc.)
● Every deal conducted in the markets will connect to the other counterpart with an legal entity identifier code.
● Used for regulators to oversee financial markets.
● LEI connects financial markets, companies and regulators.
● The issuing of an legal entity identifier code is conducted under GLEIF-accredited LOUs.
● GLEIF - Global Legal Entity Identifier Foundation
● NO LEI, NO TRADE.
Renewal of an LEI number
An LEI number needs annual renewal. This means that an LEI number issued on 2/1/2018 will have to be renewed before 2/1/2019. If the deadline has passed, your LEI number will become inactive until renewed again. The LEI renewal process is necessary to ensure the data in the Global LEI Pool is relevant and up to date.
LEI Register offers the renewal of LEIs for 1-, 3- or 5-year period. Whatever the period, you will receive a notification from LEI Register a month prior to the deadline. In the case of multi-year legal entity identifier renewal, the LEI Register will take the responsibility to check your data before renewal and renew your LEI number on a yearly basis. Our aim is to keep your data up to date.
Structure of an LEI number
An LEI number is standardised with ISO certificate 17442. This consists of a combination of 20 numbers and letters.
- Numbers 1-4 always show the ID of the LOU which has issued the LEI.
- Numbers 5-6 have always a value of 0.
- Numbers/Letters 7-18 are unique to each entity.
- Numbers 19-20 are for verification purposes.
LEI is all about connecting the dots!
The vision of GLEIF is to have one universal registration number for all entities around the globe. This is an identifier that would provide standardised and high-quality reference data.
"We believe that ultimately there should be one identity behind every business. Having an LEI number will help to achieve this objective."
GLEIF - Global Legal Entity Identifier Foundation.
Who can issue an LEI number?
Issuance of LEI numbers is governed by GLEIF. The GLEIF is the foundation which controls the issuance of legal entity identifiers. The GLEIF does not itself issue LEIs, they are instead issued through a network of public and private companies acting as LOUs. Their purpose is to supply registration, the renewal of LEI numbers, and act as a gateway for organisations that wish to obtain an LEI number. A list of LOUs can be found here.
The LEI Registry is not an LOU. Instead, the LEI Registry acts as Registration Agent. Our task is to help companies and public entities obtain reliable information about an legal entity identifier, and manage communication between LOUs and entities wishing to apply for an LEI. We validate data provided with publically available services such as the Division of Corporations (Secretary of State), etc. More information about Registration Agents can be found here.