Who needs an LEI?

Derivatives Trading and the European Market Infrastructure Regulation (EMIR)

Since February 2014 any organisation participating in the trade of derivatives and who is required to comply with the EMIR (European Market Infrastructure Regulation) is required to have a mandatory LEI.

Compliance with the European MiFID II/MiFIR regulation

As of January 2018, in accordance with the new European MiFID II/MiFIR regulation (Art.26 of Regulation nr.600/2014), European financial institutions must notify their national financial services authority / regulator of all transactions carried out relating to certain financial instruments.

Each legal entity, active in trade of financial instruments offered on a trading platform (or underlying products being exchanged on a platform), such as shares, bonds, warrants, state loans, warrants, state loans and state notes is required to be identified with an LEI. (This measure does not apply to some investments, investment insurances, term deposits, deposits and savings certificates products.)

All legal entities wishing to purchase or sell one of the above mentioned financial instruments, is required to identify itself by an LEI. The legal entity is responsible for obtaining its own LEI.