europeanLEI
Legal Entity Identifier Code
Register for a LEI and Protect your companies financial transactions.
Since the introduction of MiFID II, the second European Markets in Financial Instruments Directive in 2018, the operation and transparency of financial markets for consumers within the EU have been strengthened.
For instance, the supervision of OTF - trading systems (Organised Trading Facilities) consequently fell within the responsibilities of the Supervision of Securities. This allocation was important because OTF trading platforms were not regulated in any way before. Furthermore, investor protection has been improved, as securities service providers disclose the total costs as well as the impact on returns, and disclose the costs for product and service in a differentiated manner. This means that customers are better informed about the costs of financial services. Other points in MiFID II deal with record-keeping obligations in investment advice, or requirements for qualifications of employees among financial portfolio managers.
MiFID II is supplemented by the Markets in Financial Instruments Regulation (MiFIR), which enables national supervisory authorities within the EU to prohibit or restrict the distribution and sale of financial instruments. Likewise, Art. 26 of the MiFIR Regulation stipulates that an active Legal Entity Identifier (LEI) is required to identify the reporting entity as well as its clients in order to conduct transactions in financial instruments.
1. APPLICATION
Register for a LEI with your company name and location.
2. VERIFICATION
Our partner Ubisecure RapidLEI verifies your identity through local authoritative sources. In most cases this takes less than 24 hours.
3A. ISSUANCE
Your valid LEI code is sent to you for immediate use.
3B. PUBLICATION
Your LEI code is submitted to the GLEIF database.
These guidelines enable greater transparency and security for all private individuals and companies trading in securities. However, this also means that trading is only possible if these individuals or companies can present a valid LEI, meaning a Legal Entity Identifier. This applies not only to banks or brokers, but also to companies that hold securities as part of their corporate assets. Companies include legal entities (Ltd., Inc., etc.) as well as freelancers and self-employed individuals.
A Legal Entity Identifier number is defined as a unique alphanumeric string of 20 characters (i.e. 9845003CD612FFDB8747). The LEI number is based on ISO standard 17442 and is assigned to only one company worldwide.
The LEI ecosystem, known as the Global LEI System or GLEIS, is maintained and operated by the Global LEI Foundation (GLEIF). The ability to issue Legal Entity Identifiers is only granted to a limited number of organizations (LOUs - Local Operating Units) after a rigorous accreditation process.
LEIs uniquely represent a legal or commercially active natural person worldwide within the financial systems. Once issued, the legal entity number can be used to legitimize the "legal entity" in financial transactions or use cases.
Securities trading companies must report the respective LEI number to the national supervisory authority each time they trade. Thus, the LEI serves as a unique identifier and mechanism to prevent anonymous trades.
EuropeanLEI makes applying for LEI numbers very easy and very fast. The online LEI application form only requires your company name and location.
We also accept renewals or transfers of existing LEI numbers (a transfer is required, if your existing LEI is currently not in management of "Ubisecure RapidLEI").
Our platform has been built according to PbD (Privacy by Design) principles and complies with the requirements of the European Data Protection Regulation (GDPR).
Where possible, we have minimized the input required for LEI application. Since our partner Ubisecure RapidLEI has access to a wide range of company registers and other data sources, it is sufficcient to apply with the master data of your business entity.
Register a LEI number today and benefit from the following advantages.
Fully automated - the process usually requires no prints, scans or fax documents.
Improved accuracy - through direct interfaces to various business registries for data enrichment and validation.
Automated renewals - so you never forget to renew your LEI number.
With approximately two million organizations, trusts and funds already having Legal Entity Identifiers (LEI), the LEI is firmly established as the global code for identifying "who is who" and "who belongs to whom."
Created as a result of the 2008 financial crisis, the LEI was designed to provide a strong organizational identity to the respective counterparties. LEIs protect citizens during market crises by providing understanding of dependencies and risk exposures. LEI is endorsed by the G20 and the Financial Stability Board and regulated by the Global LEI Foundation (GLEIF).
No LEI, no trade: Failure to comply with certain regulations carries penalties such as fines or "no-trade" sanctions. LEIs are mandated by MiFID, MiFIR, Dodd-Frank Act, EMIR and many other regulations as mandatory information. New regulations mandating the use of LEIs are enacted almost monthly.
Service providers and credit scoring organizations use LEIs and look for the LEI compliance mark in know-your-customer (KYC) onboarding processes and customer identity update processes. Missing LEIs can cause disruptions to business activities, operations and transactions.
Both humans and machines can verify the LEI. The entire LEI database is open and searchable via the Internet. LEIs provide an always up-to-date organizational identity. The LEI is the only identifier that links parent and child organizations. LEIs support multiple languages for names and addresses. Achieving the LEI compliance mark ensures that the organization's reference data is accurate and trustworthy.
LEIs are included in electronic and digital signatures, documents, press releases, site seals, QR codes, barcodes and more. Human and machine-readable XBRL digital signatures are linked to LEIs to provide enduring assurance about the integrity of documents such as annual reports and financial statements. LEIs are now included in x.509 digital certificates. LEIs will be included in SWIFT transactions in the new ISO payment standard.
Below you will find the price information about the costs for the application. Please do not hesitate to contact us if you have any questions.
59,- € per year
plus VAT
This fee applies to new applications, as well as renewals (including a transfer) of an existing LEI.
A refund period of 60 days as detailed under the GLEIF RA Governance Framework will be honoured appropriately.
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