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FAQ

What is an LEI code?

LEI is an abbreviation for the Legal Entity Identifier.

An LEI code makes it possible to uniquely identify companies and other legal entities (associations, foundations, legends, etc.) to ensure transparency in global financial markets.

The LEI code can be compared to a global business registry number.

The code consists of 20 characters and is an alphanumeric code based on the global ISO 17442: 2012 standard.

The code is composed of four elements:

  • Characters 1-4: Identifies which LOU has issued the code.
  • Characters 5-6: Reserved for future functionality.
  • Characters 7-18: Identifies the individual legal entity.
  • Characters 19-20: Two control digits.

Who should have an LEI code?

All legal entities wishing to sell or buy securities must have an LEI code from January 3, 2018. The concept of legal personality includes all types of companies, associations, foundations and legends and more.

Physical persons are identified with their national identification number and therefore do not have an LEI code.

Who controls the LEI system?

The LEI code system is managed centrally by GLEIF (Global Legal Entity Identifier Foundation). GLEIF is an international not-for-profit organization headquartered in Basel, Switzerland. GLEIF's task is to support the implementation and use of LEI codes in order to improve the transparency of the global financial business world. You can read more about GLEIF on their website.

Are sole proprietorships required to have an LEI code?

In most cases sole proprietorships do not need an LEI code. You can contact us if you are unsure whether you need an LEI code.

Should I have an LEI code for my holding company?

Yes, if you want to trade securities through your holding company.

Should I have an LEI code for my operating company?

Yes, if you want to trade securities through your operating company. Otherwise an LEI code is not required.

What is a LOU?

LEI codes are issued by accredited Local Operating Units (LOU), which are GLEIF-approved organizations. LOU’s have the mandate to create, modify and renew LEI codes. All created LEI codes are stored in an open database at GLEIF.

What does an LEI code cost?

It's depends on whether you need to create, renew, or move an LEI code.

You can see our prices here.

How long does it take to get an LEI code?

It usually takes between 2-5 business days to get an LEI code.

If you need to get your LEI code fast, you can choose our Premium LEI registration. Our specialists handle the entire process and we can usually deliver the LEI code the same day. In some cases it may take 1-3 business days.

Can I trade right away when I receive my LEI code from you?

The global LEI registry (GLEIF) updates their LEI numbers once per day at 13.00 CET. Some banks and brokers require that the LEI number be verified in the registry before they allow their clients to trade. This means that some customers upon receiving a valid LEI number from us may not be allowed to trade securities by their bank or brokerage until the following day after 13:00.

What information do I need to get an LEI code?

You must provide your business registry number as well as any information about the owner structure. In some cases, we can obtain this information from your business registry number but in some cases some clarifying questions are required.

I need more than one LEI code. Can I create multiple LEIs at once (bulk registration)?

Yes. Contact us at info@globalfinreg.com if you need to register several LEI codes at once.