What is an LEI?
LEI is short for Legal Entity Identifier and this represents a code for the identification of business entities. All LEI codes are registered in the global LEI registry and this registry is administrated by Global Legal Entity Identifier Foundation (GLEIF).
About LEI code
An LEI is a unique code for an entity that identifies that entity. An LEI code consists of 20 characters and have the same structure all over the world. In 2014, a change of law took effect in Europe that introduced LEI. In the beginning of 2018, the law was extended in EU for the use of LEI codes and today all legal entities that trades with stocks and derivatives need to have an LEI code.
Legal Entity Identifier (LEI)
Legal Entity Identifier is a code used to identify legal entities all over the world. The code was introduced to create a more secure trade with securities. Each party in the securities trade needs to be able to identify itself with a Legal Entity Identifier.
LEI code or LEI number?
An LEI is often referred to as an LEI code or an LEI number. In a casual circumstance they are both okay to use. An LEI consists of 20 characters in the form of letters and numbers hence constitutes a code. The use of LEI-code or LEI-number varies between countries. In Sweden LEI code is more frequently used while in Finland the use of LEI number is more common.
Read more about LEI number here