As of 1 October 2016, WM Datenservice will reduce its fee for the initial allocation of a Legal Entity Identifier (LEI) by €12. The initial verification of an LEI will then cost only €145 (net). The net fee for the annual renewal of an LEI will be reduced by €12 as well; to €95 (net) annually. Since April 2013 WM Datenservice, Europe’s largest agency for the allocation of Legal Entity Identifiers (LEIs), has been operating the WM-LEIPORTAL. 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.
The LEI is a worldwide valid code required for the identification of companies, banks, insurers and pension funds due to regulatory requirements. For instance, the LEI increases the transparency for the trading of over-the counter derivatives, securities and for lendings.
WM Datenservice has already allocated the 20-digit alphanumeric code for more than 66,000 entities of more than 132 countries (as of September 2016).