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The Global Legal Entity Identifier Foundation (GLEIF) is the not-for-profit organization responsible for operating the world's only open, non-proprietary system for uniquely identifying legal entities. GLEIF aims to encourage competition among local operating units (LOUs) that perform LEI issuance and registration, and monitors the LOUs for consistency, quality, and efficiency. It also publishes the Global LEI Index, a single source of open, standardized and high-quality legal entity reference data.
An LEI gives a unique 20-character identifier to each legal entity that participates in regulated financial markets globally, improving transparency and credibility for regulators and market participants alike. An increasing number of governments, markets and industry organizations require or recommend that companies use their LEI to identify themselves in regulatory filings and reporting systems.
Choosing the right LEI provider is critical to getting your business up and running quickly, with a minimum of hassle. While some providers offer low-cost or cheap LEI options, it is important to consider their reputation, reliability, and security before making a decision.
The Global LEI System has been built with the support of the Group of 20 leading economies and the Financial Stability Board (FSB). OFR staff led the effort to create the global LEI system, working closely with counterparties and other regulators through the FSB's work on the LEI. The OFR is committed to supporting the long-term sustainability of the global LEI system. This includes embedding the LEI in global regulations such as EMIR, MiFIR, and SFTR, and continuing to promote its worldwide adoption.
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