LEI code

Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR) entered into force on 16 August 2012 and requires financial service providers to identify clearly, with a unique identifier, the trading counterparties in the mandatory derivative reports.

EMIR recommends the use of the so-called Legal Entity Identifier (LEI) for identification. The LEI is an international code of 20 characters that serves to identify distinctly the counterparties (banks, issuers, listed companies, exchange traders, investment funds, etc.) of financial transactions worldwide.

The issuers (Local Operating Unit – LOU) approved by the Legal Entity Identifier Regulatory Oversight Committee (LEIROC) is authorized to issue the LEI.

KELER contracted WM Datenservice, Germany to assist Hungarian market participants in obtaining the LEI codes required for reporting. Based on the contract all market players, including local or foreign players, can apply for LEI codes through KELER, at preferential rates.The LEI codes need to be applied for and renewed annually.

Please see our attached service introduction for more on LEI code application through KELER Ltd.