What is a LEI code or a LEI number?
LEI is short for “Legal Entity Identifier” which is a globally accepted standard for unique entity identification worldwide. LEI code is sometimes refered to as "LEI number"
Why do I need a LEI code or LEI number?
To ensure correct transaction reporting, it is required that all entities that trade securities within the EU have a LEI.
What does a LEI code or LEI number look like?
A LEI code or LEI number is a 20-character alphanumeric string, the string is unique for your company.
How do I get a LEI code or LEI number?
It’s easy to get a LEI code with LeiPass. All you need to do is fill out the form and we take care of the rest. We will validate your entity information and request that the Global LEI Foundation (“GLEIF”) issues a unique LEI code for your entity. Once the the registration is done we will send you your LEI code over email. You can use your LEI code right away but it won’t be visible in the GLEIF registry until after 9:00 AM the following day.
Is a LEI code and LEI number the same thing?
Yes, some people refer to LEI codes as LEI numbers.
What is a LEI-code renewal?
A key concept in the LEI ecosystem is the annual renewal and verification of the data associated with each LEI-code. This ensures the validity of the data, reduce counterparty risk and improve operational efficiency for all parties relying on LEI data.
Therefore, ensuring annual renewal of your LEI-code is highly important. LEI-codes which are not renewed in time will lapse. Operating with a lapsed LEI-code may prevent you from participating in transactions where up-to-date LEI data is required.
If you are a customer with LeiPass, you have the opportunity to enter into multi-year contracts which enables us to renew your LEI data for you for a set number of years. Regardless of your chosen plan, we will be in contact before your LEI-code lapses to ensure you get the opportunity to renew and verify your data.
If you wish to renew an LEI with LeiPass but you are not currently a customer with us, you must first transfer your LEI to our management before we can renew it. See the following FAQ on transferring LEIs.
What is a LEI-code transfer?
LEI-code transfer is the transfer of your LEI-code from one service provider to another. The management of your LEI-code is transferrable to ensure you can choose a service provider you are happy with.
A LEI-code transfer does not change your LEI-code or the data associated with it. It only changes the Local Operating Unit ("LOU") managing your LEI-code.
Contact our customer support at [email protected] if you wish to transfer your LEI-code with LeiPass' assistance.