The minimum reference data that must be supplied for each LEI code is referred to as Level 1 data.Īccording to GLEIF, Level 1 data is used to answer the question 'who is who'. The ISO 17442 standard defines a set of attributes, or legal entity reference data, that are the most essential elements of identification. The GLEIF is backed and overseen by the LEI Regulatory Oversight Committee and is headquartered in Basel, Switzerland. They host the main LEI database that contains all of the LEI codes and information related to them. It was founded in June 2014 and its main duties involve overseeing implementations and registrations of LEI numbers, as well as driving transparency across the global financial marketplace. The Global Legal Entity Identifier Foundation (GLEIF) is a not-for-profit organisation that was created to support and implement the use of LEI codes. The ultimate goal of GLEIS is to ensure that there is only one standard system. Currently, many different systems and methods for identification exist in various countries and markets. The purpose of introducing the Global LEI System (GLEIS) is to standardise the identification of legal entities across the globe.

LEI codes help businesses and regulators identify parties that are participating in financial transactions, with the aim of enhancing transparency in the global marketplace.Įach LEI code contains reference data that is divided into two sections: Level 1 - who is who, and Level 2 - who owns whom. All LEI codes are published to the Global Legal Entity Identifier Foundation's (GLEIF) database and the data is publicly available and accessible to everyone, regardless of possessing an LEI code themselves. The code is based on the ISO 17442 standard which is developed by the International Organization for Standardization (ISO). A Legal Entity Identifier (LEI) is a unique alphanumeric 20-character code that is used to identify legal entities across the globe.

Reason limited registration code