What is a LEI Number?

The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code under the ISO 17442 standard issued by the International Organization for Standardization (ISO). It provides clear and unique identification of legal entities engaging in financial transactions. Through this code, one can gain access to essential information regarding an entity’s ownership structure, answering the questions of ‘who is who’ and ‘who owns whom’. In simpler terms, the LEI data pool, which is publicly available, can be seen as a global directory, leading to a heightened level of transparency in the global market.

The wider business community stands to gain a wide range of benefits from the Global LEI Index as the rate of LEI adoption increases. In order to maximize the potential of entity identification in financial markets and other areas, companies are strongly encouraged to get their own to apply for  LEI.  SCG makes the process to apply for LEI GMEI number simple and straightforward. Having an LEI can help firms take advantage of new opportunities, streamline processes and improve their overall performance. Furthermore, an LEI can help companies comply with regulations and reduce the risk of reputational damage or fines associated with non-compliance.