LEI/GEI - where to obtain it from?

'Is it true that we need a LEI/GEI and, if so, where can we apply for it, how much does it cost and how long does the whole process take?'

First of all, it is true, every single NFC will need a LEI/GEI - this ID will be part of each and every trade information (file, message) that will either be reported directly to one of the Trade Repositories or by the companies' banks.

In case a group also has group-internal derivatives, a LEI/GEI has to be obtained for each subsidiary.

We got our LEI from WM Datenservice - the registration process took approximately four weeks once the first invoice had been paid. The registration costs EUR 150.00 including the costs for the first year, the prolongation will cost EUR 100.00 per year.

Links to the complete list of pre-LOUs endorsed by ESMA can be found in our 'facts' section.