02.06.2024

Nasdaq CSD Launches LEI Services Platform

02.06.2024
The Case for an LEI Utility

Nasdaq announces that Nasdaq CSD has launched an enhanced Legal Entity Identifier (LEI) service platform, Nasdaq LEI, that allows for a more straightforward and effective LEI code issuance and management.

All legal entities involved in the financial markets are required to have LEI codes.“The use of LEI codes has grown significantly over the recent years due to increased activity on the financial markets,” says Indars Aščuks, CEO of Nasdaq CSD. “With Nasdaq LEI we can now offer a more simple and reliable way for companies to efficiently manage their LEI codes, a requirement for all legal entities involved in the financial markets, including securities trading.”Nasdaq LEI offers:

  • seamless LEI code application with integration with local business registers to automatically retrieve and maintain data;
  • multi-year LEI subscriptions;
  • competitive prices with discounts for multi-year LEI subscriptions;
  • transfer of LEIs for free;
  • built-in notifications to banks or brokerages of LEI events;
  • digitalized Power of Attorney submission.

In addition, Nasdaq LEI facilitates financial institutions and other intermediaries in monitoring and managing LEIs on behalf of their clients, ensuring efficient onboarding, uninterrupted service and supporting regulatory compliance. It provides an intuitive and user-friendly graphical user interface (GUI) and application programming interface (APIs).

Nasdaq CSD is accredited by GLEIF (Global Legal Entity Identifier Foundation) to provide LEI issuance and management services in 25 countries, including Sweden, Denmark, Iceland, Norway and the Baltics.

Legal Entity Identifier or LEI code is a unique 20-character code. All legal entities participating in the financial markets (incl. trading in securities) are obliged to have an LEI code. The LEI plays an important role in identifying legal entities involved in financial transactions and is an integral part of regulatory reporting and supervision at a global level.

Source: Nasdaq

Related articles

  1. MiFID II to Boost Automation

    As settlement accelerates, firms are looking closely at their post-trade processes.

  2. FINRA has begun disseminating individual transactions in active U.S. Treasuries at the end of the day.

  3. The acquisition enhances SIX's data offering and expands its global fixed income footprint.

  4. The partnership accelerates the time-to-market for the delivery of customized solutions.

  5. SEC’s Climate Disclosure Rule and EU's CSRD are boosting spending on corporate ESG reporting software.