Yes - all corporates clients of Saxo Markets (Australia) Pty Ltd ("Saxo") who trades OTC derivatives (FX and CFDs), will have to provide Saxo with a LEI code.
For more information, please refer to ASIC's website.
What is a LEI code ?
The LEI number or Legal Entity Identifier is a global 20-character alphanumeric code for identifying legal entities. Each LEI number is unique: it is assigned to each legal entity once and may not be assigned to any other entity. The LEI is an exclusive identifier, as each legal person is only issued a single LEI number.
The LEI number does not replace the national registry code of a company.
For more information, please refer to APIR's website.
Where can I obtain a LEI code?
There are several provides (globally) who can help you to obtain a LEI code. To mention a few specific providers, we can refer to:
This list is not meant to be exhaustive, nor does it mean that Saxo endorses or recommend these provides. You should make your own assessment on the provider that best meets your needs.
What happens if I don't have a LEI code?
If you don't have a LEI code, Saxo is not allowed to offer you to trade OTC derivatives (FX and CFDs).