Who needs an LEI number?

All legal entities – companies, fonds, organizations, unions, banks and insurance companies, operating with financial transactions, stocks, bonds, and other securities, need an LEI number.

Your bank is obligated to register your LEI number, before they do any trading on your behalf, meaning that they probably already gave you notice, if you needed one in your previous actions.

Where do I get an LEI number?

You can order your LEI number at LEI Service. All our solutions come with free support, both by phone and by email. The price of LEI numbers often depends on whether we talk about registration of a new LEI or a renewal of your existing LEI number. At LEI Service though, we have chosen to offer the same low price, both for renewal and registration of a new LEI number. Discover our prices here..

Michael Bjerggaard, LEI Service
Michael Bjerggaard  

Michael holds a master’s in Applied Economics and Finance from Copenhagen Business School.
Michael has previously worked with compliance in the banking sector.
Michael is co-founder of a real estate advisory company and a legal-tech company (with same owners as LEI Service).

When do you need an LEI number?

Since January 2018, there has been a law that all companies in the EU need an LEI number to buy and sell stocks and bonds. An LEI number has been required when trading with derivatives since November 2017. The LEI system has been implemented in more than 40 countries, including the entire EU, and parts of the USA.

If you have a company trading with securities, both locally and globally, you need an LEI number. The amount or value of the securities does not have any influence.

LEI Numbers: the background

The system behind LEI numbers was invented due to a request from the G20-countries, with the purpose of strengthening the global overview and control with the financial markets. LEI was created as a common standard and system of reference, consisting of data, making it possible to track transactions globally.

An LEI number consist of two levels of data:

  • Level 1: Who is who?
    Information such as the legal name of the entity, registration number, legal address, e.g.
  • Level 2: Who owns who?
    Relevant information, like the ownership of the company and the owners structure.


By Legal Entity (As per ISO 17442), the term includes, but not limited to, uniquely identifiable parties that are either legally or financially responsible for financial transactions or have legal right (in their jurisdiction) to enter independently into legal contracts. This is regardless of they may be incorporated or constituted in any other way (e.g. trusts). It does not include natural persons but do include supranationals and governmental organizations.

A legal requirement to obtain a LEI is regulated by national financial regulators. You can see a list of regulatory initiatives concerning LEI adoption here.

According to current regulations the banks and similar institutions are subject to report on parties participating in financial transactions. Therefore, the banks can demand that you get a LEI if you want to trade.

All legal entities subject to MiFID II who wants to carry out financial transactions with financial instruments (such as stocks, bond, swaps, futures etc.) need an LEI number. Most banks or investment firms cannot allow you to trade without the LEI.

We can also assist you getting a Legal Entity Identifier for a fund or charity. It also applies that LEI number is mandatory for funds and charities. Please contact us on info@leiservice.com and we will help you with a smooth and easy LEI number application for your fund or charity or other cases where you do not have a registration number.

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