According to the new EU regulation for central securities depositories, CSDR, is we as a central securities depository are obliged to collect and keep records over our customers' LEI numbers.
Follow these steps if you haven't already applied for a LEI-code for your company:
1. Choose an authorised LEI issuer. You can find a list at LEI ROC
2. Apply for an LEI by registering your details at the LEI issuer’s website. There is a fee for applying for an LEI.
3. Make the payment.
4. When the application is approved and you have paid the fee, you will receive your LEI code.
You can find a list of authorised LEI issuers at Global Legal Entity Identifier Foundation (GLEIF) website. As a legal entity, you are not limited to using LEI issuers within your own country. Therefore you can use the registration services of any LEI issuer that is accredited and qualified to validate LEI registrations within your authorized jurisdiction(s).
The issuer charges a fee for issuing LEI and depending on which issuer you choose, it costs approximately SEK 750-1,500 for the first year. Thereafter, the annual fee is SEK 500-1,000 per year to renew the LEI number. See the respective issuer's website for exact price information.
For you who are a customer with us, you need a LEI number to be able to register and issue (issue) securities. This is because we as a central securities depository must collect LEI numbers for companies or other legal entities that issue securities with us in accordance with the EU regulation CSDR.
If your company also trades in securities, you need an LEI number in accordance with the requirements of other regulations that MiFID II / MiFIR that banks and other investment companies must follow when they report to their competent authorities.
CSDR requires central securities depositories in the EU to collect customers' LEI numbers because European financial inspectors want to keep registers of the companies that issue financial instruments in order to be able to identify each individual organization in all transaction reporting.
For Euroclear Sweden, this means that we report our customers' LEI numbers to the Swedish Financial Supervisory Authority. For companies that also trade in securities, it is necessary from 3 January 2018 to have an LEI number in accordance with the EU regulation MiFID II / MiFIR, which regulates transaction reporting of securities trading. More information about what applies to LEI in securities trading can be found at your bank.
Do you have further questions?
Contact our experts at [email protected] and they will help you.