We are pleased to announce that on 13 April 2017 the Global Legal Entity Identifier Foundation (GLEIF) acknowledged that WM Datenservice is fully accredited as a Local Operating Unit authorized to issue Legal Entity Identifiers (LEIs). WM Datenservice assigns the 20-digit alphanumeric LEI for the worldwide identification of legal entities via the WM-LEIPORTAL (www.wm-leiportal.org) since April 2013. The accreditation of WM Datenservice as official LEI allocation agency (LOU, Local Operating Unit) by the GLEIF replaces the recognition of WM Datenservice by the LEI ROC (Regulatory Oversight Committee) of October 2013.
WM Datenservice is Europe’s largest agency for the allocation of Legal Entity Identifiers (LEIs) and has already allocated more than 70,000 LEIs to entities of more than 137 countries (as of April 2017). All LEIs allocated before the accreditation by the GLEIF will remain unchanged.
WM Datenservice (www.wmdaten.com) is one of the leading data providers for the German financial industry. In addition to the LEI, the company also assigns the German Securities Identification Number (Wertpapierkennnummer/WKN) and the International Securities Identification Number (ISIN) to securities issued by German issuers.
As of 24 April 2017, WM Datenservice will reduce its fee for the initial allocation of a Legal Entity Identifier (LEI) by €45. The initial verification of an LEI will then cost only €100 (net). At the same time, the net fee for the annual renewal of an LEI will be reduced by €15 to €80 (net) annually. By reducing the abovementioned fees, WM Datenservice is passing on its economies of scale in connection with the initial allocation and renewal of LEIs to its customers.
Since April 2013 WM Datenservice, Europe’s largest agency for the allocation of Legal Entity Identifiers (LEIs), has been operating the WM-LEIPORTAL. WM Datenservice has already allocated an LEI for more than 70,000 entities of more than 137 countries (as of April 2017).
The LEI is a worldwide valid code required for the identification of companies, financial securities providers and regulatory authorities. For instance, the 20-digit alphanumeric LEI code increases the transparency in bilateral business. As of 3 January 2018, the LEI will also be compulsory for the securities trading in Europe as per MiFID II and MiFIR.
So far the reference data on an Legal Entity Identifier (LEI) contain information on the official name and the registered domicile of the legal entity, so-called ”Level-1-Data” data. As of 1 May 2017, information on the direct and ultimate parent of a legal entity will be collected, verified and published pursuant to the requirements of the Global Legal Entity Identifier Foundation (GLEIF) as well. From that date legal entities will have to indicate these so-called “Level-2-Data” data when they apply for an LEI or its renewal.
We will soon provide information on how legal entities can indicate information on the group structure when they apply for an LEI or its renewal.
WM Datenservice is Europe’s largest agency for the allocation of Legal Entity Identifiers (LEIs) and has already allocated more than 70,000 LEIs to entities of more than 137 countries via the WM-LEIPORTAL (www.wm-leiportal.org ) (as of April 2017).