How to obtain a LEI number?
LEI number in simple terms
- Legal Entity Identifier - a unique number / code to identify a legal entity. It can also be used as an international company registration number.
- A unique identification code (LEI) for companies which trade with securities.
- Every deal conducted in the markets will connect to the other counterpart with an LEI number.
- Regulators (such as Central Banks) use it to oversee financial markets. LEI connects financial markets, companies and regulators.
- LEI number is endorsed by the G20 countries.
- The Legal Entity data related to the LEI is free of charge and accessible from the GLEIF database.
- The issuing of a LEI number is conducted under GLEIF-accredited LOUs.
- GLEIF - Global Legal Entity Identifier Foundation. Endorsed by the G20 countries and created by the Financial Stability Board. Governed by the LEI Regulatory Oversight Committee (LEI ROC)
- Remember, NO LEI, NO TRADE.
LEI number - what do the numbers and letters represent ?
LEI number is standardised with ISO standard 17442. It consists of a combination of 20 numbers and letters.
- First four numbers always show the identity of the LOU which has initially issued the LEI.
- Numbers 5 and 6 have always a value of zero.
- Numbers/Letters seven to eighteen are unique identifiers to each entity.
- Final 2 digits are checksum. They are for verification purposes.
LEI number connects the dots.
The vision of the Global Legal Entity Identifier Foundation is to have one universal registration number for all entities around the world. This is an identifier for the entities that would provide standardised and high-quality and free reference data for the consumer.
"We believe that ultimately there should be one identity behind every business. Having an LEI will help to achieve this objective."
GLEIF
The future of LEI and why should I apply now!
There are a number of possible use cases where LEI number can become useful.
LEI number has already been adapted as the identificator for large corporate borrowers in UK. It is very likely that other countries across the globe will follow. It will help to understand the total financial health of the larger corporate borrowers. In fact European Central Bank is already using the LEI code as one identificator with Ana Credit reporting.
Global LEI number or a global business registration number. As the database is up to date and free of charge for the customer, this will give better understanding with whom we do business with. It will also ease the onboarding process for the banks and financial service providers.
Quick and efficient identification of online businesses and e-commerce providers. As the e-commerce grows it will give us a quick overview with whom we are going to order merchandise. One click on the LEI number will give you the full company data.
Many new use cases are being developed rapidly: such as site seals, Legal Entity Identifier in SSL certificates etc.
Who can issue the LEI ?
The Issuance of LEI numbers is governed by the GLEIF. The GLEIF is the foundation which controls the issuance of LEI numbers, but the GLEIF does not itself issue them. They are instead issued through a network of government owned and private companies acting as Local Operating Units. Their main purpose is to supply registration, the renewal of LEI's, and act as a gateway for organisations that wish to obtain a LEI number. Full list of Local Operating Units can be found from the GLEIF webpage.
LEI Register acts in cooperation with several LOUs. LEI Register is as an official Registration Agent. Our task is to help organisations and public entities obtain reliable information about the LEI number and manage communication between LOUs and entities wishing to apply for a LEI number. We validate data provided from publicly available databases such as national Business Register, etc. The full list of business and other registers can be found from the GLEIF Registration Authorities list. Find out more information about Registration Agents.