The Legal Entity Identifier (LEI) is a unique 20-character alphanumeric code, defined by the international standard ISO 17442, that identifies a legal entity taking part in financial transactions. Think of it as a global ID card for companies: one code, one entity, recognised everywhere.
The LEI system was introduced by the G20 after the 2008 financial crisis, when regulators found it difficult to see who was exposed to whom across the financial system. Today it is overseen by the Regulatory Oversight Committee (ROC) and coordinated by the Global Legal Entity Identifier Foundation (GLEIF).
What does an LEI look like?
An LEI consists of 20 letters and digits, for example:
ABCD 00XY Z123 4567 8901
- Characters 1–4 identify the organisation that issued the LEI.
- Characters 5–18 are the unique part assigned to the entity.
- Characters 19–20 are check digits that protect against typing errors.
The example above is for illustration only.
What information does an LEI contain?
Each LEI is linked to a public reference data record, which anyone can search free of charge in the global LEI database:
- Level 1 – “who is who”: the official legal name, registered and headquarters addresses, legal form, business register and registration number, and the status of the entity.
- Level 2 – “who owns whom”: the direct and ultimate parent companies, where they exist.
Who needs an LEI?
Any legal entity that takes part in financial transactions can have an LEI, and in the EU many are legally required to. You most likely need one if your organisation:
- buys or sells shares, bonds, ETFs or other financial instruments (MiFID II / MiFIR – the “no LEI, no trade” rule);
- enters into derivative contracts that must be reported (EMIR);
- takes part in securities financing transactions (SFTR);
- issues securities admitted to trading on a regulated market;
- is a bank, investment firm, insurer, fund or fund manager with regulatory reporting duties.
Companies, partnerships, funds, trusts, foundations, associations and public bodies can all obtain an LEI. Private individuals cannot, but sole traders registered as businesses can in some countries.
Why renew every year?
The LEI code itself never changes, but its reference data has to be confirmed once a year. This keeps the global database accurate. If an LEI is not renewed, its status changes to “lapsed”. Banks, brokers and regulators may then refuse to accept it, which can block trading or reporting until it is renewed.
How do I get an LEI?
LEIs are issued by accredited organisations known as Local Operating Units (LOUs). LEI24 operates as a Registration Agent working with Nasdaq CSD, an accredited LOU, and takes care of the application for you:
- Search for your company and confirm its details.
- Choose your service and pay online.
- We verify the data and submit the application – you receive your LEI as soon as it is issued.
To apply, you usually need the company’s registration number, its registered address and details of any parent companies. If you are applying on behalf of the company, you may also need a letter of authorisation.
Can I move my LEI to another provider?
Yes. An LEI is not tied to the organisation that issued it. You can transfer its management to LEI24 at any time – the code stays the same, and future renewals are handled by us.
Get your LEI with LEI24
Register, renew or transfer online in a few minutes.