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.