LEI format check & lookup
What is a Legal Entity Identifier (LEI)?
A Legal Entity Identifier (LEI) is a 20-character alphanumeric code that uniquely identifies a legal entity participating in financial transactions. The LEI system is supervised by the Global Legal Entity Identifier Foundation (GLEIF) and administered by accredited Local Operating Units (LOUs) in each jurisdiction.
LEIs are required under several major financial regulations, including MiFID II, EMIR, and SFTR, for counterparty identification in securities trading, derivatives reporting, and securities financing transactions.
- Characters 1–4: LOU prefix (identifies the issuing Local Operating Unit)
- Characters 5–18: Entity-specific alphanumeric identifier
- Characters 19–20: Two check digits (ISO 17442 algorithm)
Understanding LEI structure
The LEI format is defined by ISO 17442 and is consistent globally. Every LEI is exactly 20 alphanumeric characters, with no spaces or separators, structured as follows:
| Characters | Component | Description |
|---|---|---|
1–4 | LOU Prefix | Identifies the Local Operating Unit that issued the LEI. For example, 5493 is the prefix for GLEIF itself, 2138 for the DTCC, 9695 for the London Stock Exchange. |
5–18 | Entity identifier | 14 alphanumeric characters unique to the legal entity within the issuing LOU's namespace. |
19–20 | Check digits | Two digits calculated using the ISO 17442 check digit algorithm (based on MOD 97-10). Used to detect transcription errors. |
The check digit algorithm converts letters to numbers (A=10, B=11, etc.), concatenates the full LEI string, and verifies that the result modulo 97 equals 1. This is the same algorithm used for IBAN check digits.
When an LEI is required
- MiFID II: Required for all legal entities trading financial instruments on EU markets. Applies to investment firms, fund managers, and their clients that are legal entities.
- EMIR: Required for derivatives reporting and clearing. Both counterparties to a derivative trade must have valid LEIs.
- SFTR: Required for securities financing transaction (repo, securities lending) reporting under the Securities Financing Transactions Regulation.
- Global trade finance: Used by correspondent banks for KYC and anti-money laundering identification of legal entity counterparties.
Obtaining and renewing an LEI
LEIs are issued by accredited Local Operating Units (LOUs), which are organisations authorised by GLEIF to register and maintain LEI records. Any legal entity — including companies, funds, trusts, and government bodies — can apply for an LEI directly through any accredited LOU, regardless of which country it is established in.
The registration process typically requires:
- Legal entity name as registered with the relevant authority
- Registration authority and ID — for example, Companies House number for UK entities, Handelsregister number for German entities
- Registered address and headquarters address if different
- Legal form — company, partnership, fund, trust, etc.
- Parent entity information if applicable (for the Level 2 "who owns whom" data)
Fees vary by LOU and typically range from €50 to €200 for initial registration, with annual renewal fees in a similar range. GLEIF maintains a list of accredited LOUs on its website. Renewal must be completed each year to maintain "Active" status — an LEI that lapses to "Lapsed" status may be rejected by counterparties and regulators.
What a GLEIF lookup shows
The GLEIF Global LEI Index at search.gleif.org is the authoritative public registry of all LEI records worldwide. Each record contains two levels of reference data:
- Level 1 — "Who is who": The legal name and registered address of the entity, the legal form, the jurisdiction of incorporation, and the registration authority reference (e.g. Companies House number).
- Level 2 — "Who owns whom": Direct and ultimate parent relationships, enabling counterparties and regulators to understand corporate ownership structures. Not all entities report parent data; disclosure is voluntary for some entity types.
The record also shows the LEI's current status (Active, Lapsed, Merged, Retired, Cancelled), the issuing LOU, and the dates of initial registration and last update. For counterparty due diligence, always confirm the LEI shows Active status — a Lapsed LEI indicates the entity has not renewed and the data may be outdated.
LEI vs other business identifiers
| Identifier | Scope | Primary use | Renewal |
|---|---|---|---|
| LEI | Global | Financial transactions, regulatory reporting | Annual |
| EU VAT Number | EU (per country) | Tax identification for VAT transactions | No (but may be deregistered) |
| EORI | EU-wide | Customs declarations and import/export | No |
| Companies House No. | National | Company registration and filing | No |
| DUNS Number | Global (commercial) | Commercial credit and procurement | No |