FIEO Partners

Legal Entity Identifier (LEI), Trusted Global Transactions

The Legal Entity Identifier (LEI) is a 20-character, alphanumeric code that uniquely identifies a legal entity or structure that is party to a financial transaction in any jurisdiction. The LEI connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure and thus answers the questions of ‘who is who’ and ‘who owns whom’. The LEI data pool can be regarded as a global directory that greatly enhances transparency in the global marketplace.

Who manages the LEI system globally?
The Global Legal Entity Identifier System issues LEIs and provides unique identification of legal entities involved in financial transactions all over the world. The Global Legal Entity Identifier Foundation (GLEIF), Switzerland, is a not-for-profit supra-national organization that supports and oversee the implementation and use of LEI. The foundation is backed and overseen by the Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly drive forward transparency within global financial markets.

Who is Eligible for Obtaining the Legal Entity Identifier?
Any legal entity that is a party to financial transactions can obtain a LEI. This entity could be an incorporated entity, partnership firm, proprietorship firm, bank, mutual fund, asset management company, trust, holding company, special purpose vehicle (SPVs) etc.

Why should Exporters obtain a Legal Entity Identifier?

  • LEI is a global identifier that provides international recognition for your business.
  • It is standardized across countries.
  • LEI serves as an essential identifier in cross border (international) transactions.
  • LEI confers global credibility on your business or organization, helping you grow your exports.
  • SME exporters that obtain LEIs can stand out amongst their peers in the domestic and global marketplace.
  • You can mention your LEI on your website and stationery and incorporate in QR codes, bar codes, website seals, etc.
  • Regulators such as RBI, SEBI and IRDAI may require you to obtain a LEI for certain transactions.
  • As B2B e-commerce expands, LEI is being increasingly used for better identification of buyers and sellers on online marketplaces. It drastically cuts time in KYC and onboarding.

Why should you apply for the LEI through Rubix?
Rubix Data Sciences (Rubix), a technology and analytics-based B2B risk management and monitoring platform, has been appointed as India’s first Validation Agent for the Legal Entity Identifier by GLEIF and Legal Entity Identifier India Ltd (LEIL), which is accredited by GLEIF as a Local Operating Unit (LOU) for issuing globally compatible LEIs in India.

  • Rubix handholds you through the process of submitting correct documentation and helps you receive your LEI quickly.
  • Rubix reminds you when your LEI is up for annual renewal thus ensuring that your LEI is always active.
  • Since Rubix is a Validation Agent directly appointed by GLEIF and LEIL, your data and money are safe with us.