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Legal Entity Identifier (LEI)

London Stock Exchange is accredited by the Global Legal Entity Identifier Foundation (GLEIF) as an authorised Local Operating Unit (LOU) for the global allocation of Legal Entity Identifiers (LEI).

What is the LEI code?

The Legal Entity Identifier (LEI) initiative is designed to create a global reference data system that uniquely identifies every legal entity or structure, in any jurisdiction, that is party to a financial transaction.

Endorsed by the G20, the establishment of a Global LEI System (GLEIS) is critical to improving measurement and monitoring of systemic risk. Global, standardised LEIs will enable regulators and organisations to more effectively measure and manage counterparty exposure while also resolving long standing issues on entity identification across the globe. To aid global allocation of LEIs, Local Operating Units (LOUs) have been formed and must be sponsored by local regulators to assign and maintain LEIs to firms on a cost recovery basis.

The use of the LEI has been mandated by the European Securities and Markets Authority (ESMA) for the reporting of derivative transactions to Trade Repositories under European Market Infrastructure Regulation (EMIR). Under MiFID II and Market Abuse Regulation (MAR), market operators are required to collate an LEI for each issuer with securities admitted to trading. All investment firms subject to MiFID II will be required to retain a valid LEI. Firms subject to the MiFID II transaction reporting obligations will not be able to execute a trade on behalf of a client who is eligible for an LEI and does not have one.

Our GLEIF accreditation

London Stock Exchange issues LEIs to legal entities using the requirements set by GLEIF and the agreed principles outlined by the LEI Regulatory Oversight Committee (LEI ROC).

GLEIF Accredited London Stock Exchange

What are the benefits of using London Stock Exchange as a LOU?

Further to demonstrating our ability to perform as a LOU, our proven track record with reference data software solutions is further displayed in our LEI offering. Utilising our UnaVista platform, our service provides a number of benefits to you:

What is the cost of obtaining an LEI?

London Stock Exchange will be charging fees on a cost recovery basis. There is an initial allocation cost of £90+vat and annual maintenance cost of £65+vat per LEI. In line with the principle of the global LEI system related to sustainable funding, both costs are inclusive of the LEI licence fee which is passed onto the Global LEI Foundation (GLEIF). For firms who require a bulk allocation of more than 100 LEIs there is pricing based on economies of scale.

How you can request or renew your LEI?

Where you can find more information

For more information view our FAQ section on LEIs, get in contact with your account manager or email us at lei@lseg.com. You can also download our LEI Welcome Pack which has all the information you need to get started.

Alternatively to speak with a member of the LEI team please call +44 (0)20 7797 3300.

London Stock Exchange LEI Limited is the GLEIF accredited entity and all references to ‘London Stock Exchange’ should be construed as references to ‘London Stock Exchange LEI Limited'

LEI Level 2 data FAQ

  • Prior to the implementation of Level 2 Data effective 1st May 2017 The information assigned to the Legal Entity Identifier (LEI) e.g. the official name of a legal entity and its registered address etc., is referred to as ‘Level 1’ data. It provides the answer to the question of ‘who is who’. With the release of Level 2 the LEI data pool will be enhanced to include the answer to the question of ‘who owns whom’. This data will allow the identification of the direct and ultimate parents of a legal entity and, vice versa, in order that the entities owned by individual companies can be researched.

  • The collection of LEI Level 2 Data is a requirement set by the LEI ROC (LEI Regulatory Oversight Committee) and the GLEIF (Global LEI Foundation). For more information please see the LEI ROC publication.

  • Yes, this is a mandatory requirement set the LEI ROC (LEI Regulatory Oversight Committee) and the GLEIF (Global LEI Foundation).

  • As quoted by the GLEIF: “The collection, validation and publication of parent information will commence on 1 May 2017.” This means that from 1st May 2017 all new LEI requests and all LEI renewal requests submitted required LEI Level 2 Data to be provided. If you currently maintain LEIs with us, we encourage you to provide us with this information as soon as possible, so that we can update your LEI record ahead of its Annual Renewal.

  • Please email LEI@lseg.com and request for bulk or individual level 2 update templates.

  • In order for us to validate the relationship between your LEI and its direct and ultimate parent, we request you to provide us with the validation document that confirms the existence of the Parent relationship such as the accounts fling, regulatory filing or other publicly available source that we can use to confirm the relationship.

  • If your LEI does not have a direct or ultimate parent, in the Parent Name field you will need to choose ‘N/A’ from the drop down and then select one of the following from the Exception Reason field:

    • NATURAL_PERSONS
      The parent entity is a natural person; There is no parent according to the definition used, because the entity is controlled by natural person(s) without any intermediate legal entity meeting the definition of accounting consolidating parent.
    • NO_KNOWN_PERSON
      There is no parent according to the definition used, because there is no known person controlling the entity (e.g. diversified shareholding).
    • NON_CONSOLIDATING
      There is no parent according to the definition used, because the entity is controlled by legal entities not subject to preparing consolidated financial statements.
  • If you cannot disclose your LEIs direct or ultimate parent, in the Parent Name field you will need to choose ‘N/A’ from the drop down and then select one of the following from the Exception Reason field:

    • BINDING_LEGAL_COMMITMENTS
    • CONSENT_NOT_OBTAINED
    • DETRIMENT_NOT_EXCLUDED
    • DISCLOSURE_DETRIMENTAL
    • LEGAL_OBSTACLES
       
  • You will need to renew your LEI and you can add the Level 2 data upon renewal by clicking the ‘edit record’ box once you have clicked ‘Select for Renewal’

  • The LEI ROC retained the following definition: The “direct accounting consolidating parent” of legal entity X would be defined as the lowest level legal entity that prepares consolidated financial statements that consolidate entity X, based on the accounting definition of consolidation applying to this parent.

  • The LEI ROC retains the definition of ultimate parent envisaged in the public consultation: the “ultimate accounting consolidating parent” of entity X would be the highest level legal entity preparing consolidated financial statements that consolidate entity X, based on the accounting definition of consolidation applying to this parent.

  • For assistance in which fields you will need to fill in please see the LEI Level 2 Data Help Sheet here

    Please see the GLEIF link below for more information on Level 2 Data here

    Please see the link below for an overview on the LEI ROC Policy on Level 2 Data:

  • Yes please see the ‘LEI Level 2 Terminology Explained’ guide.

  • If the LEI has direct and ultimate parent companies, you would only report the parent information if the direct and ultimate parent are based on accounting consolidating standards. i.e. the entity’s accounts consolidate into the parents. If a Parent entity exists but cannot be disclosed, please choose the appropriate exception reason (see exception reason definitions from the ‘LEI Level 2 Terminology Explained’ guide.

  • The GLEIF and LEI ROC are working on developing the fund policy for reporting Level 2/Parent information. If the fund consolidates as per accounting consolidating standards then you would report the parent entities the fund’s accounts consolidate into.

    GLEIF have confirmed that in the case there is doubt on how the direct and ultimate parent information should be reported for funds, a reporting exception of NON_CONSOLIDATING or NO_KNOWN_PERSON is acceptable.

    If the Fund does not consolidate it’s accounts into the parents, a reporting exception of NON_CONSOLIDATING is acceptable.

Request details

Submit your details and one of our experts will be in touch to start the conversation or call us to speak with a member of the LEI team +44 (0)20 7797 3300.