By 3 January 2018, all companies and funds will require a “Legal Entity Identifier” (LEI) that allows them to be clearly identified worldwide. Order your LEI from WM Datenservice to benefit from our specialist expertise of the Austrian market.
Reference number valid worldwide
The “Legal Entity Identifier” (LEI) is a 20-digit alphanumerical identification number that serves as a clear reference code for all separate legal entities such as companies and funds. The LEI code increases transparency in bilateral business transactions as well as in capital markets.
Compared to all previous identification attempts, LEI is a global solution that applies to all countries, markets and legal systems. The global LEI system was established after the financial crisis to enable banks and regulators to quickly and clearly identify complex company networks and links.
National and supranational legislators and regulatory authorities decide what legal entities require a LEI. According to the MiFID II EU Directive, as at 3 January 2018, it will be impossible to engage in transactions in securities without an LEI.
Search for allocated LEI
You can search for allocated LEI codes on the website “Global Legal Entity Identifier Foundation” (GLEIF) by entering a free text, such as the company name, into the search field in the top right corner.
The Legal Entity Identifier (LEI) is a 20-digit identification number for separate legal entities such as companies and funds, and consists of several parts. It is constructed according to ISO Standard 17442 and takes into account the specifications of the Financial Stability Board (FSB) and the Regulatory Oversight Committee (LEI ROC).
It consists of:
- the 4-digit code of the “Local Operating Unit” (LOU). For LEIs that were assigned by WM Datenservice, this number is 5299.
- 2 separation numbers
- the 12-digit entity identification
- the 2-digit checksum
Apart from the LOU code, the LEI does not contain any “meaningful” components such as a country code. The Legal Entity Identifier can be valid until the company is deleted, also in the case of a relocation abroad for example.
How to get your LEI with WM Datenservice and OeKB
Companies can, in principle, decide themselves from which “Local Operating Unit” they wish to get their LEI. We recommend requesting your LEI from the online service “WM LEI PORTAL” the LEI awarding office of WM Datenservice, since in this case OeKB checks LEI applications of Austrian companies as a service partner. This way, companies have a contact partner in Austria and benefit from the support of a service team that has special expertise in the Austrian market.
- Sign up on the WM LEI PORTAL (www.wm-leiportal.org).
- If you are not yet registered, create an account and confirm your email address.
- Apply for your LEI on the WM LEI PORTAL.
- You will then receive an invoice by email. After receiving your payment, OeKB will check your Austrian LEI dataset.
- If the audit is positive, you will receive your LEI by email. Your LEI is valid for one year.
If you wish to apply for ten or more LEI at once, please contact the LEI Service Centre directly.
LEI prolongation required after a year
You will receive an automatic email 45 days before the period of validity of your LEI expires to remind you to check your LEI dataset. You can check your information on the WM LEI PORTAL and confirm or modify it. You will then receive an invoice sent to your email address. After receiving your payment for the LEI prolongation, OeKB will check your Austrian LEI dataset again. Your LEI will then be valid for another year.
Should you not confirm your information or pay the invoice in time, the LEI will no longer be valid but continues to exist.
We would be happy to help you with our expertise should you have other questions about the LEI.
Mon-Fri: 09:00 a.m. to 04:00 p.m.
LEI application or prolongation
Apply for or prolong your LEI on the WM LEI PORTAL and secure OeKB as your LEI contact partner in Austria.