● LEI code – Legal entity identifier code.
● A unique identification code for entities which trade in financial  markets (stocks, bonds, futures, forex, etc.)
● Every deal conducted in the markets will connect to the other counterpart with an LEI.
● Used for regulators to oversee financial markets.
● LEI connects financial markets, companies and regulators.
● The issuing of an LEI code is conducted under GLEIF-accredited LOUs.
● GLEIF – Global Legal Entity Identifier Foundation
● NO LEI, NO TRADE.

Legal entity identifier (LEI) is mandatory for transactions in interest rate, forex and credit derivative market. The Reserve Bank of India (RBI) has also made LEI compulsory for companies and organisations having aggregate fund-based and non-fund based exposure of credit over RS 50 crore.

Legal entity identifier will help banks and credit providers in monitoring the exposure of corporate borrowers. It will prevent banks from issuing multiple loans against the same collateral.

A legal entity identifier code (LEI code) number needs annual renewal. This means that an LEI code issued on 2.1.2018 will have to be renewed before 2.1.2019. If the deadline has passed, your LEI will become inactive until renewed again. This renewal process is necessary to ensure the data in the Global LEI Pool is relevant and up to date.

LEI Register offers the renewal of LEIs for 1-, 3- or 5-year period. Whatever the period, you will receive a notification from LEI Register a month prior to the deadline. In the case of multi-year LEI code renewal, the LEI Register will take the responsibility to check your data before renewal and renew your LEI code on a yearly basis. Our aim is to keep your data up to date.

Issuance of LEI is governed by GLEIF. The GLEIF is the foundation which controls the issuance of LEIs. The GLEIF does not itself issue LEIs, they are instead issued through a network of public and private companies acting as LOUs.

Their purpose is to supply LEI registration, the renewal of LEIs, and act as a gateway for organisations that wish to obtain an LEI.

LEI issuers – also referred to as Local Operating Units (LOUs) – supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI. LOUs work closely with registration agents, who help legal entities apply for LEI codes.

LEIs are universal codes and are not tied to any specific country. Each LOU has its own identifier, which is contained in the first four numbers of an LEI. LEIs are valid worldwide regardless of the LOU that issued the code.

LEI Register normally provides your Legal Entity Identifier within 1–24 hours from the moment of payment for the application (if the company submits any necessary additional documents promptly).

Yes, the Legal Entity Identifier system is built on the principle of making the information publicly available. LEI-related company data (name, registration ID, address, address of the principal office, country of registration, etc.) are accessible to everyone through the GLEIF website.