Get an LEI number here
LEI stands for Legal Entity Identifier. An LEI number, or LEI code, is the equivalent of an international company number.
The LEI is a requirement for many legal entities. It provides transparency in financial transactions across international markets.
LEI Service helps your company get a new LEI number or renew an existing LEI code quickly and easily. Prices from £29 per year (5-year validity) to £39 per year (1-year validity).
Order before 5PM and get a new LEI code within 2 hours with VIP / express delivery.
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Why choose LEI Service?@hTag>
- Quick, easy and safe LEI registration
- Most 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?@hTag>
Who needs an LEI number?
- Since 3 January 2018 all EU legal entities subject to MiFID II require a valid LEI number to trade e.g. stocks, bonds, or forex
- The LEI system is quickly becoming a global standard. Many countries outside the EU, including the US in the Commodity Exchange Act, have adopted the LEI syste
- Companies subject to the MiFID II transaction reporting obligation are not able to accept a trade originating from a client who does not have a valid LEI number – no LEI, no trade
- BREXIT may affect UK legal entities. UK companies who do not have an LEI number may be required to obtain one as a result of the ongoing negotiations
LEI number: the basics explained
- Legal Entity Identifier (LEI) is comparable to an international company number. It identifies the legal entity on a global scale
- The Legal Entity Identifier is a 20-character code based on the ISO standard 17442
- Most legal entities are required to obtain an LEI in order to trade stocks, bonds etc.
- An LEI number has a registration fee and must be renewed on an annual basis
- The LEI helps to prevent financial fraud by allowing all entities to be uniquely identified on a global scale
- The LEI code contains information about the entity’s ownership structure and answers the questions: ‘Who is who?’ and, ‘Who owns whom?’
- LEI numbers are issued by LOUs (Local Operating Units). LOUs are accredited by the non-profit organisation GLEIF (Global Legal Entity Identifier Foundation). GLEIF is regulated by the ROC (Regulatory Oversight Committee)
Legal Entity Identifier example with the LEI Service LEI: 9845 008599005596A4 56
- Characters 1-4: used to identify the issuing LOU
- Characters 5-18: unique to the legal entity – characters contain no specific information
- Characters 19-20: used to verify the identity of the legal entity
Who can issue an LEI number?
- The coordination of LEI number issuance is carried out by GLEIF (Global Legal Entity Identifier Foundation). GLEIF is a non-profit organisation responsible for maintaining the integrity of the global LEI system
- The actual issuance of LEI numbers is done by GLEIF accredited LOUs (Local Operating Units)
- LOUs publish all LEI numbers and reference data to the GLEIF LEI database. The GLEIF database is publicly available
- GLEIF is regulated by the LEI ROC (Regulatory Oversight Committee). The ROC is comprised of several financial institutions on a global scale.
- GLEIF offers free of charge LEI lookup. The Legal Entity Identifier search will show if the LEI is active and when it expires
LEI number terms
LEI Service helps you obtain an LEI number. Just enter your company number or name in the field above and confirm your data from Companies House (if listed). Next, fill out your information about the ownership structure of your entity. When this is done, we will take care of the application process for you. If we do not require additional information from you, your new LEI code will be issued in 10 minutes to 48 hours.
The GLEIF LEI database is updated once daily. This means that although the LEI number is valid when you receive it, it may take up to 24 hours before your bank or investment platform will be able to verify the validity of your LEI number.
LEI numbers must be renewed annually. This is to ensure that the information concerning the legal entity listed in the LEI Index is always correct and up-to-date.
At LEI Service, we offer the option of purchasing multi-year renewals. This allows us to update your LEI with the information in the official register. If any changes are made to this information, the legal entity is obligated to inform us so we can update the data in the GLEIF Index. We do this at no additional cost.
Without a valid LEI number, your legal entity will not be able to perform or participate in any financial transactions. An expired LEI code must be renewed to restore its validity.
The data of the LEI are referred to as reference data. It is the responsibility of the legal entity behind each LEI to notify the LEI issuing organisation (the LOU) of any updates to the reference data. All users of the LEI data can challenge the data contained in any LEI. Such a challenge triggers a review of the LEI data by the LEI issuing organisation. Verifications of or updates to an LEI are processed at no additional cost. This is done by the managing LEI issuer.
GLEIF are responsible for monitoring the LEI data quality. A data quality management programme ensures that the LEI is the best industry standard.
You can read more about data quality management here.
The GLEIF LEI database is only updated once 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 is no longer valid. This can happen if you forgot to renew your LEI number. We can help you renew your LEI here.
LEI number prices
If you are registering a new LEI number with LEI Service, the LEI number fee for 1 year is £39 excluding any applicable VAT.
Who needs a LEI?
The term legal entity includes, but is not limited to, uniquely identifiable parties that are either legally or financially responsible for financial transactions or have legal right (in their jurisdiction) to enter independently into legal contracts. This is regardless of whether they may be incorporated or constituted in any other way (e.g. trusts). The term legal entity does not include natural persons, but does include supranationals and governmental organisations.
Legal requirements to obtain an LEI are regulated by national financial regulators. For a full list of regulatory initiatives concerning LEI adoption, click here.
In accordance with the current regulations, banks and similar institutions must report on parties participating in financial transactions. Therefore, banks can demand that you get an LEI if you want to trade.
All legal entities subject to MiFID II who participate in financial transactions with financial instruments (e.g. stocks, bonds, swaps, futures, etc.) need an LEI number. Most banks or investment firms do not permit trading without the LEI.
Like other legal entities, trusts, charities and pension shcemes are required to get a Legal Entity Identifier. LEI Service can help you obtain an LEI for a trust, charity, or other entity that does not have a registration number. Please contact us at email@example.com – we will make the application process easy for you.
About the LEI system
GLEIF stands for Global Legal Entity Identifier Foundation. GLEIF is a non-profit organisation established by the Financial Stability Board in June 2014. GLEIF was founded to support the implementation and use of LEI numbers.
You can find more information about GLEIF here.
In 2011 the G20 (Group of Twenty) asked the Financial Stability Board (FSB) to make recommendations to a global Legal Entity Identifier (LEI) system and oversight of this.
This led to the development of the Global LEI System. The issuance of LEI numbers enables unique identification of legal entities participating in financial transactions. The FSB underlined that a global acceptance of the LEI system will contribute to several financial stability goals. It also provides advantages to the private sector.
More information on the Global LEI System can be found here.
The LEI system is made up by three layers:
Layer 1: the LEI Regulatory Oversight Committee (ROC). The ROC consists of multiple public authorities from various nations. It was established in 2013 to coordinate and supervise the framework of the Global LEI System.
Layer 2: the Global LEI Foundation (GLEIF). Established in 2014 by the Financial Stability Board, GLEIF is a non-profit organisation meant to help with the use and implementation of LEIs. The purpose of GLEIF is to ensure that the Global LEI System has operational integrity.
Layer 3: LEI issuing organisations. The issuers of LEIs are also called Local Operating Units (LOUs). LOUs are responsible for LEI registration, LEI renewal, and complementary services.
You can find more information here.
The Legal Entity Identifier (LEI) is connected to key data which enable unique identification of legal entities participating in financial transactions across the globe. The LEI data are made publicly available to create and improve transparency on the global markets.
The free information connected to the LEI provides standardised information on legal entities on a global scale. The data incorporated in each LEI are verified through procedures and protocols set by the LEI Regulatory Oversight Committee. The purpose of the Global LEI System is essentially to answer questions on two levels of data:
Level 1: who is who?
Level 2: who owns whom? And who owns what?
LEI stands for Legal Entity Identifier. An LEI number, or LEI code, is a 20-character code which legal entities (e.g. businesses, trusts, or charities) may be required to obtain in order to participate in financial trades and transactions on the global market. No LEI, no trade.