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LEI

LEI - Legal Entity Identifier Information

Trading financial instruments and the need for Legal Entity Identifier (LEI)

EU regulations require that all those who trade financial instruments are uniformly identified by a Legal Entity Identifier (LEI). Unless you have a LEI code, you will not be able to trade financial instruments within the EU. Details about LEI can be found below. The process itself is easy, and below you will find a guide on how to acquire or renew a LEI.

Acquire or renew your LEI code

An LEI code is acquired from one of the official LEI Code issuers. Nordea has a partnership with LEI code providers Arctic and RapidLEI who both have tailored solutions for Nordea customers, offering a fast and secure acquiring process with local adaptation. Please see relevant links and LEI code providers below.

To be able to continue trading in financial instruments, you must renew your LEI Code on a yearly basis. Please start the renewal process in due time with your LEI Code issuer, to allow for processing time.

Application forms in local language provided by Arctic, and with local security solutions:

DanishNorwegianSwedish English

 

The English application form provided by RapidLEI for Finnish and international customers:

 

 English

Submit your acquired or renewed LEI code

Need to submit more than one company?

Please use following excel sheet if you are submitting multiple LEI codes. Once you have filled in the LEI codes, please send the excel sheet to LEI [at] nordea.com (.)

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More information about LEI

The Regulatory Oversight Committee (ROC)

  • The ROC is a standalone committee of more than 70 global regulatory authorities. The ROC sets global LEI principles and endorses LOUs.

The Central Operating Unit (COU)

  • The COU is a non-profit foundation implementing global standards and the uniform operating model.

Local Operating Units (LOU)

  • LOUs are authorized by the COU to provide self-registration of LEI codes to entities in the jurisdictions they serve. As part of the endorsement process each LOU must prove that they fulfill requirements and obligations set by the ROC. Once that has been confirmed – the LOU receives status ‘endorsed’ (i.e. accepted as issuer of LEI codes by all member countries in the ROC).

The LEI code is a 20 digit alphanumeric code as defined in the ISO standard 17442. The code is built up as follows:

  • Characters 1-4: A four character prefix allocated uniquely to each LOU.
  • Characters 5-6: Two reserved characters set to zero.
  • Characters 7-18: Entity-specific part of the code generated and assigned by LOUs according to transparent, sound and robust allocation policies.
  • Characters 19-20: Two check digits as described in the ISO 17442 standards.*

The LEI code is not aimed to replace existing local identifiers (such as national company registration numbers), but will gradually become the binding standard for regulatory reporting globally.
* The LEI code structure

A LOU endorsement is an approval from the ROC that the LOU fulfils its requirements and obligations
Registration and maintenance fee is set from the guidelines of the Financial Stability Board (FSB) and all fees are on a strictly cost-covering basis.

The number of active and endorsed LOUs is increasing rapidly. You can find the most recent list available on the ROC site 

For Nordea customers operating in the Nordic region the following LEI providers are currently operational:

The LEI registration is a straight forward, online procedure typically based on 5 general steps:

  1. Create a personal account at a LOU
  2. Register company information
  3. Pay either an invoice sent by email or to the postal address you provide
  4. A verification process starts when the LOU receives the payment
  5. The LEI code is allocated once the verification in complete

The properties of the LEI codes are the same regardless of where the LEI is issued. However, only endorsed LOUs and their recognised registration agents are valid from an EMIR perspective.

NordLEI (Sweden)
Recognised Registration Agent of the GMEI Utility (Web portal available in all Nordic languages and payments accepted in local currencies).
Guide to registration of LEI at NordLEI

WM-Datenservice
Q&A: https://www.wm-leiportal.org/f-a-q/?lang=en
Apply for a LEI: https://www.wm-leiportal.org/?lang=en and click the button “APPLY” and follow the instructions.
This is an online application where you need to register as a user before submitting the form.

London Stock Exchange Group (LSEG)
http://www.lseg.com/LEI
Click on “How to Request an LEI”. This is an online application where you need to register as a user before submitting the form.

GMEI Utility
https://www.gmeiutility.org/login.jsp
Click on “Don’t have an account yet?” if it is the first time you use the system.
This is an online application where you need to register as a user before submitting the form.

Finnish patent bureau Endorsed and operational. Only accepts Finnish companies.
https://www.prh.fi/en/kaupparekisteri/leicodes.html
Download the form, fill it with information and sign it according to the rules listed on this homepage and send it to the addresses listed on this page.

For the full list of endorsed LOUs please visit the GLEIF website

Q&A information published by LOUs

For further information please contact Nordea at LEI [at] nordea.com