Get a LEI code here
LEI (Legal Entity Identifier) is the equivalent to an international business registration number. The LEI code is mandatory for many entities, in order to trade. Get a LEI code fast and at a low cost right here. 1 year €64.
Get a new LEI code in 2 hours if you order before 6 PM (in 95% of cases).
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Transfer and LEI number renewal
Why choose LEI Service?
- Quick, easy and safe LEI registration
- Affordable LEI number
- Automatic renewal of LEI possible
- Phone and e-mail support
- We always reply within 24 hours – guaranteed!
What is a LEI number / LEI code?
Think of an LEI as an international business registration number. The LEI is used to identify the parties involved in financial transactions worldwide.
An LEI costs a fee and must be renewed every year. Companies, trusts, super funds and charities may all need an LEI – in short, any legal entity that trades or reports derivatives.
Who needs an LEI in Australia?
Since 21 October 2024, ASIC’s derivative transaction reporting rules require entities to be identified by their LEI – other identifiers such as AVID or BIC are no longer accepted. If your company trades OTC derivatives such as FX forwards or swaps, your counterparty will ask for your LEI.
Australian companies that trade shares, bonds or derivatives on EU or UK markets also need an LEI: brokers there may not execute trades for clients without a valid LEI (MiFIR/UK MiFIR).
Many banks don’t accept a lapsed LEI, and you risk not being able to trade.
LEI number explained in 30 seconds
- Legal entities that trade or report derivatives need an LEI
- Creates transparency, because everyone involved in financial transactions can be identified worldwide
- LEI data answers two questions: “Who is who?” and “Who owns whom?” (direct and ultimate parent company)
- LEIs are issued by Local Operating Units (LOUs) such as RapidLEI, which are accredited by GLEIF. GLEIF publishes all LEI data free of charge, and the Regulatory Oversight Committee (ROC) oversees the system
A Legal Entity Identifier example for LEI Service ApS with the LEI: 9845 008599005596A4 56
- Characters 1–4: prefix of the issuing LOU (9845 = RapidLEI)
- Characters 5–18: unique part for the legal entity
- Characters 19–20: check digits
Who can issue an LEI number?
GLEIF, a not-for-profit foundation based in Basel, coordinates the global LEI system. LEIs are issued by accredited Local Operating Units (LOUs) such as RapidLEI. Registration agents such as LEI Service help companies apply.
The ROC – a group of public authorities from around the world – oversees the system.
GLEIF’s free LEI search shows whether an LEI is valid (“Issued”) or lapsed, and when it’s due for renewal.
LEI number terms
We offer a service where you just plot in your company registration number, confirm your data that is also registered with the official registers. Fill out info about the ownership structure, when this is done, we will make the LEI code application on your behalf and usually you will have the LEI code in a matter of hours or a few days. This applies to most cases that does not require additional information from you.
The GLEIF Legal Entity Identifier LEI database is updated several times daily, but it is not certain that your bank or investment platform do more than one daily check if any at all. They might want to wait until it can be verified with the legal entity identifier database. (even though the LEI code is valid when issued).
It is important to make sure that the underlying information concerning the legal entities listed in the LEI Index is up to date. Therefore, the data must be updated on a yearly basis. This is considered a LEI number renewal.
LEI Service offer the possibility to purchase multiyear renewals, where we will update the LEI based on official sources. The legal entity is obligated to inform us of any changes made to this information so that we are able to update the GLEIF Index with the new data via RapidLei. We do this at no cost for you.
Your LEI gets the status “Lapsed”. Many banks don’t accept a lapsed LEI, and you risk not being able to trade. Renew in good time.
The data of the LEI is referred to as the reference data. The legal entity behind each LEI is responsible for notifying its LEI issuer of any changes. Anyone can challenge the data of an LEI via GLEIF; the managing LEI issuer then reviews it free of charge.
GLEIF monitors data quality across the whole system.
You can read more about data quality here.
The GLEIF LEI database is updated several times a day. It may take up to 24 hours before your bank can verify a new LEI registration. Another source of error is if your LEI has lapsed and it is no longer valid. This can be caused if you forgot to renew it and that is why you cannot conduct any trades. Let us help you renew it.
Generally no. However, since 2015, sole traders acting in a business capacity can obtain an LEI under certain conditions (ROC statement). You can read the statement here.
About the LEI system
GLEIF is a not-for-profit organisation established by the Financial Stability Board in June 2014. GLEIF was founded to support the implementation and use of LEIs.
GLEIF is based in Basel, Switzerland. The main task of GLEIF is to ensure operational integrity of the global LEI system. GLEIF also makes available the technical infrastructure for anyone who wishes to access the complete global legal entity identifier LEI database.
You can find more information about GLEIF here.
In 2011, the G20 countries asked the Financial Stability Board (FSB) to make recommendations for a global Legal Entity Identifier (LEI) system and oversight of this.
This led to the development of the global LEI system, where issuance of LEI number ensures a unique identification of legal entities participating in financial transactions. FSB underlined that a global acceptance of the LEI system will help with several financial stability goals. It also provides some advantages to the private sector.
More information on the global LEI system can be found here.
The LEI System is made up of three layers:
- Layer 1 is LEI Regulatory Oversight Committee: Consists of multiple public authorities from various nations and it was established in 2013 to coordinate and supervise the framework of the global Legal Entity Identifier system.
- Layer 2 is the Global Legal Entity Identifier Foundation (GLEIF): Established in 2014 by the Financial Stability Board. GLEIF is a not-for-profit organisation meant to help with the use of and implementation of LEIs. GLEIF’s job is to ensure that the global Legal Entity Identifier system has operational integrity.
- Layer 3 is LEI issuing organisations: The issuers of LEIs are also called Local Operating Units (LOUs). LOUs handle LEI registration, LEI renewal and complementary services.
- In addition, registration agents such as LEI Service help companies apply and submit applications to an LOU.
You can find more information here.
The Legal Entity Identifier (LEI) links key data enabling a unique identification of legal entities that participate in financial transactions across the globe. The LEI data is made publicly available to create and improve transparency in the global markets.
The free information provides standardized information on legal entities on a global scale. The data incorporated in each LEI is verified through procedures and protocols set by the LEI Regulatory Oversight Committee. LEI data answers two questions: “Who is who?” (Level 1: name, address, registration number) and “Who owns whom?” (Level 2: direct and ultimate parent company).
The LEI number is a 20-character alphanumeric code that businesses, funds and charities who want to either buy or sell financial instruments may have to obtain in order to comply with MiFID II regulation or other local financial regulations (e.g. UK MiFIR).