What is an LEI?
The Legal Entity Identifier or LEI code is a unique 20-character alphanumeric code for legal entities participating in the financial markets.
Who needs an LEI?

All legal entities who are participating in the financial markets are obliged to have an LEI code starting from January 3, 2018.

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Why LEI?

The LEI code is used for the legal entity identification in regulatory reporting and supervision.

With the global establishment of a uniform system for the identification of legal entities, it is expected that risk management and financial market transparency will be improved. This can be achieved through error reduction with regard to business transactions and by lowering the costs for data cleaning, maintenance, and reporting to regulatory authorities. In addition, the clear identification of all contracting partners strengthens important business processes and reduces corporate risks.

How to obtain an LEI code?

LEI codes can be obtained through the Nasdaq CSD. We offer registration and renewal services of the LEI code.

Steps to obtain an LEI code for your legal entity:
File in an application (in case of a fund, file this application instead) and the authorization letter and sign them digitally.
Send the digitally signed documents to the Nasdaq CSD at lei@nasdaq.com.
Nasdaq CSD will perform a preliminary validation of the application documents and issue an invoice.
Your application will be processed after the payment has been received.
You will receive your LEI code. It may take 3-5 business days from filing the application to receiving the LEI code.
KDDLEI terms and conditions
What are the costs?
For the registration and issuance of the LEI code
79 EUR + VAT
For yearly renewal of the LEI code
59 EUR + VAT
The Legal Entity Identifier (LEI code) is a 20-digit, alphanumeric code that connects to key reference information enabling clear and unique identification of companies participating in global financial markets. The LEI code is based on the ISO standard 17442 developed by the International Organization for Standardization.
The LEI code associates a legal entity with key information, which allows legal entities participating in global financial markets to be clearly and uniquely identified. LEI codes are already used to identify the parties to EMIR derivative instruments transactions and due to the application of implementing regulation EU/2017/105, no other alternative codes can be used when providing notification of transactions made with derivative instruments starting from November 1, 2017. The LEI code shall be used for reporting as of January 3, 2018, pursuant to the MiFID II and MiFIR regulation, transaction reports shall, among other things, also be used for investigating market abuse. The format of the transaction reports is established by an implementation regulation of the European Commission.
Legal entities that have been assigned the right to provide investment services are obliged to notify surveillance authorities of transactions made with the securities of a legal entity client by using the LEI code. In case a legal entity client does not have an LEI code, the reporting obligation cannot be performed and as a result the transaction orders of such legal entities cannot be fulfilled. In accordance with the European regulation, the LEI code must be used to identify the contracting parties to financial market transactions worldwide and make it easier for regulators to recognize possible systemic risks at an early stage. The ultimate aim is to better manage financial risks.
Local Operating Units (LOU) of the Global Legal Entity Identifier Foundation (GLEIF) are responsible for the registration of interested entities and the issuance of LEI codes. The GLEIF exercises operational controls over the implementation of the LEI issuance process and ensures world-wide uniform standards in the global LEI system (GLEIS). The system is supervised by the Regulatory Oversight Committee (ROC) established by the Financial Stability Board and approved by G-20. There is a number of service providers and the selection can be made freely.
Nasdaq CSD is an LEI code registration agent service provider for the Nordic and Baltic region. We operate in cooperation with an LEI Local Operating Unit (LOU) the KDD (Slovenian Central Securities Clearing Corporation). Nasdaq CSD does not issue LEI codes. Meanwhile, Nasdaq CSD will apply to become an accredited LOU operating with its own prefix. Any news of this process will be communicated separately.
The LEI code shall be issued for a fee and is also subject to a yearly renewal fee.
To correctly perform the reporting duty, the LEI code of a legal entity must be valid. The company providing the investment service shall check the validity of the code before completing the transaction.
An investment service provider must ask a legal entity client all information which is required for submitting transaction-related information to a regulatory authority. This information also includes the LEI code.
In case a legal entity client does not submit to the investment service provider all the information required for completing a securities transaction, including the LEI code, the service provider shall not be able to perform the reporting duty pursuant to law. In this case, the transaction orders of such legal entities cannot be executed starting from January 3, 2018.
You can retrieve information on the global LEI code database by using the LEI code search at https://www.gleif.org/en/lei/search/. The data is updated daily.