Who needs an LEI number?

All legal entities – companies, fonds, organizations, unions, banks and insurance companies, operating with financial transactions, stocks, bonds, and other securities, need an LEI number.

Your bank is obligated to register your LEI number, before they do any trading on your behalf, meaning that they probably already gave you notice, if you needed one in your previous actions.

Where do I get an LEI number?

You can order your LEI number at LEI Service. All our solutions come with free support, both by phone and by email. The price of LEI numbers often depends on whether we talk about registration of a new LEI or a renewal of your existing LEI number. At LEI Service though, we have chosen to offer the same low price, both for renewal and registration of a new LEI number. Discover our prices here..

Michael Bjerggaard, LEI Service
Michael Bjerggaard  

Michael holds a master’s in Applied Economics and Finance from Copenhagen Business School.
Michael has previously worked with compliance in the banking sector.
Michael is co-founder of a real estate advisory company and a legal-tech company (with same owners as LEI Service).

When do you need an LEI number?

Since January 2018, there has been a law that all companies in the EU need an LEI number to buy and sell stocks and bonds. An LEI number has been required when trading with derivatives since November 2017. The LEI system has been implemented in more than 40 countries, including the entire EU, and parts of the USA.

If you have a company trading with securities, both locally and globally, you need an LEI number. The amount or value of the securities does not have any influence.

LEI Numbers: the background

The system behind LEI numbers was invented due to a request from the G20-countries, with the purpose of strengthening the global overview and control with the financial markets. LEI was created as a common standard and system of reference, consisting of data, making it possible to track transactions globally.

An LEI number consist of two levels of data:

  • Level 1: Who is who?
    Information such as the legal name of the entity, registration number, legal address, e.g.
  • Level 2: Who owns who?
    Relevant information, like the ownership of the company and the owners structure.


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 info@leiservice.co.uk – we will make the application process easy for you.

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