In compliance with the Regulation No. 600/2014 on markets in financial instruments, the European Commission Delegated Regulation (EU) No. 2017/590 of July 28, 2016, the EU Regulation No. 2017/105 and the Regulation (EC) No. 648/2012 of the European Parliament and of the Council, as from November 1, 2017, LEI (Legal Entity Identifier) will become a mandatory international identifier for all legal entities that carry out transactions in financial instruments as follows:
- FX Forward;
- FX Swap;
- OTC currency options and interest rate swap;
- Futures contracts;
- Exchange-traded options.
In accordance with EMIR requirements, legal entities that carry out transactions in abovementioned financial instruments shall be obliged to inform one of the trade repositories about such transactions. Informing – is provision of information on executed transactions to specialized institutions – registers of transactions, which is necessary for more serious supervision and greater market transparency. The aim of the registers is to consolidate, process, analyse, store and pass information on derivative transactions to supervisory bodies. Informing must be performed until the end of the following business day after the transaction execution or change in conditions of a transaction.
Taking into account that both Parties to the transaction are to inform about it, i.e. both the Customer and the Bank, for convenience of the Customer we offer an opportunity to inform the register of transactions on behalf of the Customer about the corresponding transactions executed with the Bank. In order to enable the Bank to inform about the transactions on behalf of the Customer, the Customer must obtain an international legal entity identifier (Legal Entity Identifier – LEI), and provide this number to the Bank.
As from January 3, 2018, LEI will be required also for those legal entities, which are to carry out transactions in exchange-traded financial instruments within the European Economic Area as follows:
- Debt securities;
- Exchange-traded funds.
LEI (Legal Entity Identifier) – is a 20-digit number issued to a legal entity that carries out transactions in financial instruments. The issued number is a unique code that remains unchanged within all the period of a legal entity's activity. LEI registration may take up to two weeks, and a commission shall be charged for LEI registration and maintenance. In order to obtain LEI, we suggest to choose one of the international certified organizations, having assessed LEI issuers' offers and projected costs:
If until November 8, 2017, or until January 3, 2018, respectively, the Customer (legal entity) fails to obtain LEI and notify the Bank thereof, transactions in financial instruments will be impossible.
In providing high level of service, JSC "Regionala investiciju banka" offers a LEI obtaining service on behalf of the Customer in accordance with the Price list of the Bank.
Should you have any questions regarding LEI, please call our Customer Info Service: (+371) 67 359 000.