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Legal Entity Identifier (LEI)

The Legal Entity Identifier (LEI) is a unique code by which an entity can be identified worldwide. Entities include individuals that perform economic activities, such as one-man businesses.

 

The LEI enables regulators to identify the parties that enter into derivatives transactions in the financial markets. It is mandatory to have a valid LEI for the duration of your transaction.

Entities need a LEI for both OTC derivative transactions and exchange traded derivative transactions in order to be able to comply with the EMIR reporting obligation. To be able to report correctly, you also need the LEI of ABN AMO.

LEIs & clearing categories of ABN AMRO

 

  LEI Clearing category
ABN AMRO Bank N.V. BFXS5XCH7N0Y05NIXW11 2
ABN AMRO Clearing Bank N.V. G8ZTNESVNKW4NN761W05 1

How can I apply for the LEI or extend the LEI?

Applying for the LEI

Is your company registered with the Trade Register of the Chamber of Commerce (KVK)? Then you can apply for the LEI at the Chamber of Commerce. The Chamber of Commerce charges costs for applying for and maintaining the LEI. The current rates can be found on the website of the Chamber of Commerce.

Is your company not registered in the Trade Register? Then the LEI is issued by one of the established Local Operating Units (LOUs) in other countries. Companies that want to apply for an LEI in a country where no LOU is designated can use the Global Markets Entity Identifier GMEI portal.

Once you have received the LEI, please send it to ABN AMRO as soon as possible. By doing so, you enable ABN AMRO to report the OTC derivatives transactions between you and ABN AMRO in a correct way. Without an LEI the transaction can not be executed (No LEI, No Trade).

ABN AMRO cannot apply for the LEI for you. You have to do this yourself.

Extension of the LEI

The LEI has to be extended once a year (every 12 months). A LEI that is not extended in time will no longer be valid. You need a valid LEI during the entire term of the derivatives transaction and as long as the reporting obligation is applicable.

What are the most important EMIR rules?

Legal Entity Identifier (LEI) Risk mitigating obligations Reporting obligation Central clearing obligation

External links

Netherlands Authority for the Financial Markets (AFM) Apply for a LEI at the Chamber of Commerce View the Local Operation Units (LOU) European Securities and Markets Authority (ESMA)