Beta Version of LEI Search Tool 2.0 from GLEIF Provides Enhanced Options to Easily Access Open, Standardized and High Quality LEI Data

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The Global Legal Entity Identifier Foundation (GLEIF) has published the beta version of its new Legal Entity Identifier (LEI) search tool 2.0. Using the tool, market participants can easily explore information on more than 1.3 million organizations contained within the public LEI data pool. Version 2.0 of the search tool provides enhanced functionality including the option to identify corporate ownership structures or pinpoint other identifiers that have been mapped to an LEI. With this release, GLEIF offers improved access to a unique and free data source that allows corporate dots to be connected globally based on open, standardized and high quality LEI data.

Any interested party can access and search the complete LEI data pool free of charge and without the need to register using the web-based LEI search tool developed by GLEIF. Similar to a sophisticated, easy to use search engine, it empowers users to quickly find LEI data without any technical restrictions. With the launch of its LEI search tool 2.0, GLEIF introduces additional features, including:

  • New user interface supporting quick and customized research: The new and intuitive user interface is built on a Google-like approach that allows users to quickly research specific information on a legal entity by entering a search term into a text bar. Queries can be tailored to the specific needs of LEI data users with the use of search options and filters.
  • Easily identifiable ownership information: Market participants can now identify the direct and ultimate parents of a legal entity and, vice versa, the entities owned by individual companies, provided that both child and parent entities have an LEI.
  • Other identifiers mapped to the LEI automatically showing with search results: GLEIF’s ‘Certification of LEI Mapping’ service ensures that organizations which map the LEI to their own identifiers use state of the art methodologies to do so. This cooperation model was pioneered together with SWIFT with the launch of the open-source Business Identifier Code (BIC)-to-LEI relationship files. The LEI search tool 2.0 automatically pins the corresponding BIC to an LEI record, where applicable. As new mapping partners join the program, other identifiers linked to an LEI will also show with search results.

For those seeking to dig even deeper into the LEI data pool, the new LEI search tool 2.0 offers an ‘expert mode’ which enables users to configure and combine their own search filters to facilitate the design of complex queries. A complex query is one in which there is a combination of multiple, and potentially limitless, variables, e.g. to identify all LEIs registered within a defined timeline whose legal name contains the term ‘bank’ and that own companies in a specific country.

Stephan Wolf, GLEIF CEO, comments: “The LEI offers market participants a standardized, one stop approach to entity verification in the digital age, facilitating quick, consistent and accurate information on both client organizations and other business partners and suppliers. The new LEI search tool 2.0 makes it even easier to take full advantage of the publicly available LEI data, supporting even more use cases and applications.”

Wolf adds: “To ensure the tool continues to evolve in line with market needs, GLEIF invites comments on this beta version of the LEI search tool 2.0 by June 30th 2019.”

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, answering the questions of 'who is who’ and ‘who owns whom’. GLEIF makes available the Global LEI Index, which contains historical and current LEI records including related reference data in one authoritative, central and open-source repository.

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Relevant link

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Glossary of terms

About the Global Legal Entity Identifier Foundation (GLEIF)

Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is a not-for-profit organization created to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF is headquartered in Basel, Switzerland.

GLEIF services ensure the operational integrity of the Global LEI System. GLEIF also makes available the technical infrastructure to provide, via an open data license, access to the full global LEI repository free of charge to users. GLEIF is overseen by the LEI Regulatory Oversight Committee, which is made up of representatives of public authorities from across the globe. For more information, visit the GLEIF website at https://www.gleif.org/en.

About the Legal Entity Identifier (LEI)

The LEI is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization. It connects to key reference information that enables clear and unique identification of legal entities participating in global financial markets and/or in financial transactions.

The LEI is currently required in, among others, the United States and the European Union for the execution of transactions with, and reporting of, counterparties to over-the-counter derivative trades. Many other regulators around the world are implementing the LEI for financial market transactions and regulatory reporting or are considering doing so. Details of regulatory initiatives mandating LEI use are available on the Global Legal Entity Identifier Foundation (GLEIF) website: https://www.gleif.org/en/about-lei/introducing-the-legal-entity-identifier-lei.

History of the Global LEI System

In 2011, the Group of Twenty (G20) called on the Financial Stability Board (FSB) to provide recommendations for a global Legal Entity Identifier (LEI) and a supporting governance structure. This led to the development of the Global LEI System which, through the issuance of LEIs, now provides unique identification of legal entities participating in financial transactions across the globe. The FSB emphasized that global adoption of the LEI underpins multiple “financial stability objectives” and also offers “many benefits to the private sector”.

LEI Regulatory Oversight Committee (LEI ROC)

The LEI Regulatory Oversight Committee (LEI ROC) is a group of public authorities from across the globe established in January 2013 to coordinate and oversee a worldwide framework of legal entity identification, the Global LEI System. In its role as overseer of the Global Legal Entity Identifier Foundation (GLEIF), the LEI ROC ensures that GLEIF upholds the principles of the Global LEI System. For more information, visit the LEI ROC website: http://www.leiroc.org/.

LEI issuing organizations – also referenced as Local Operating Units (LOUs)

The organizations authorized to issue LEIs to legal entities engaging in financial transactions. For more information, visit the GLEIF website: https://www.gleif.org/en/about-lei/get-an-lei-find-lei-issuing-organizations.

Source:

Global Legal Entity Identifier Foundation, St. Alban-Vorstadt 5, 4052 Basel, Switzerland

Chairman of the Board: Gerard Hartsink, CEO: Stephan Wolf

Commercial-Register-No.: CHE-200.595.965, VAT-No.: CHE-200.595.965MWST

LEI: 506700GE1G29325QX363

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