An LEI (Legal Entity Identifier) is a unique 20-character alphanumeric code necessary for trading and reporting derivative contracts within the European Economic Area (EEA), in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties, and trade repositories (EMIR).
Under MiFID II and the Market Abuse Regulation (MAR), market operators must collect an LEI for each issuer with securities admitted to trading. All investment firms subject to MiFID II are required to maintain a valid LEI.
If a Saxo corporate client wishes to access products/services such as Derivatives, an issued LEI code must be obtained. The LEI code should remain active as long as the mentioned products/services are enabled on the client's account.
Clients who do not obtain or maintain a valid LEI code can only trade Stocks (including ETFs, ETNs and ETCs), Bonds and Mutual Funds.
Here is how you can quickly request your LEI:
Use the link to the GLEIF website: Get an LEI: Find LEI Issuing Organizations - LEI – GLEIF
Scroll down and select the country where the company is registered/incorporated
- Chose one provider and click on the website link
- Sign up and follow the steps from the provider to request the LEI
After submitting your request and paying the fee, the provider will email you the LEI within a couple of days. Please note that you may need to update/renew your LEI periodically.