LEI code registration – how to find the best price?
What is the LEI code?
The LEI code is the global identifier of a legal entity performing financial transactions. Its purpose is to identify legal entities in global databases.
Companies authorized to provide investment services must use the LEI code by notifying the supervisory authorities of a legal entity client’s transactions in securities.
The international LEI system is the responsibility of an international organization called the GLEIS, which has been approved by the G20 and is set up by the Financial Stability Board (FSB).
Do I need a LEI code?
The LEI code is mandatory for all legal entities that perform financial transactions and are involved in the financial system. This is particularly the case in the European Union, Britain and the United States. The mandate says “no LEI, no trade”.
In summary, if, for example, a company carries out financial transactions, the registration of the LEI code and its constant updating is mandatory.
Who issues LEI codes?
LEI codes are issued by a large number of different service providers. Some of them are primary issuers of LEI code (LOU or Local Operating Units), such as Bloomberg. Other so-called resellers (registration agent).
How to find the cheapest LEI code provider?
The LEI code is standardized, but despite this, the prices of different service providers can vary up to 3 times. Therefore, the most important aspect when choosing a LEI code provider is price.
The cheapest LEI code provider can be found conveniently and quickly using our comparison table.