KDPW Reduces LEI Issuance and Renewal Fees
The fees for the issuance and renewal of LEIs in KDPW will be reduced by 20 percent on average as of 1 July 2018. KDPW is the only Polish institution authorised to issue LEIs in the Global LEI System. The issuance of LEIs is a part of the integrated portfolio of KDPW Group services which support the operation and development of the Polish financial market.
The LEI is a globally unique identifier of entities operating on the financial markets. KDPW manages a database of more than 14.9 thousand LEIs issued to companies in Poland and beyond.
The obligation of legal entities to obtain and use an LEI is imposed by European regulations including EMIR, REMIT, MiFID II / MiFIR, CSDR and SFTR. The implementation of the LEI standard under those regulations is expected to improve the transparency and safety of the financial markets. The obligation to hold an LEI applies to all legal entities and individuals carrying out business activities if they trade in derivatives which are required to be reported to trade repositories. The LEI obligation will soon cover a broader range of entities including those trading on the cash markets as well as issuers.
KDPW provides the LEI issuance service via the online portal https://lei.kdpw.pl/ available 24/7.
LEI (legal Entity Identifier) is a 20-character alphanumeric code under ISO 17442 developed by the International Organisation for Standardisation (ISO). LEIs are linked to key information which ensures clear and unique identification of legal entities participating in financial transactions.
Global LEI System
G20 called on the Financial Stability Board (FSB) in 2011 to develop recommendations for a global legal entity identifier (LEI) and its supporting organisational system. This has evolved into the Global LEI System ensuring the issuance of LEIs – identifiers of legal entities participating globally in financial transactions.
Global Legal Entity Identifier Foundation (GLEIF)
The Global Legal Entity Identifier Foundation (GLEIF) was established by the Financial Stability Board in June 2014 as a non-profit organisation responsible for the implementation and application of LEI standards. The Foundation is supported and supervised by the LEI Regulatory Oversight Committee which represents public administrations from around the world that have joined their forces to work towards more transparency on the global financial market. The GLEIF has its offices in Basel, Switzerland.