The Legal Entity Identifier (LEI) is a globally-standardised and unique identifier for financial market participants. It applies worldwide and ensures the transparency of capital markets. The financial crisis demonstrated the difficulty of identifying complex company networks, financial constructions, and counterparties for banks and regulators. The global LEI system counteracts this. An LEI allows clear identification of each contract partner and aids in disclosure to supervisory authorities.
Companies currently require an LEI
- to participate in derivatives trading,
- to register financial derivatives to a transactions register, which is mandatory since the February 12, 2014 roll-out of Article 9 of EMIR (the European Market Infrastructure Regulation)
- for direct reporting by national register (e.g. voting rights declarations)
- to fulfil mandatory disclosure requirements according to Article 26 of the European Financial Market Regulations (MiFIR, MiFID II).
Key groups that are affected by LEI legislation are banks, credit intuitions, insurance companies, securities service companies and investment funds. Corporations, associations, commercial companies, joint ventures and registered merchants may also be affected.
In view of the growing regulation of financial markets, it is anticipated that the use of LEIs will be adopted by many authorities and institutions worldwide. Subsequently, many non-financial counterparties that may be involved in derivative contracts will also be required to obtain and use LEIs. Individuals and legally-dependent companies are currently not required to use an LEI.
When applying for your LEI using the EQS LEI Manager you will receive:
- Lowest LEI prices in Europe
- LEI application processing within 24 hours
- 24/7 support
- Highest security standards
- Local expertise from our worldwide offices
- Easy payment via invoice or credit card
With EQS LEI Manager, the initial application for an LEI only costs £44. We guarantee LEI application processing within 24 hours.
The application process is simple: