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Legal Entity Identifier (LEI)

The Legal Entity Identifier (LEI) is a unique code by which an entity can be identified worldwide. Entities include individuals that perform economic activities, such as one-man businesses. The LEI enables regulators to identify the parties that enter into derivatives transactions in the financial markets.

Entities need a LEI to be able to fulfil their EMIR reporting obligations. In order to report correctly parties also need the LEIs of their counterparties.

 

As of 1 July no OTC derivatives transactions with parties without LEI

AFM and DNB have indicated that enforcement of the reporting obligation will become more strict (for OTC derivatives in the near future). Therefore, as of 1 July 2016 ABN AMRO will no longer enter into OTC derivatives transactions with clients that do not have a valid LEI. This date has been communicated with AFM and DNB and only applies to clients that are located within the EEA.

How can i apply for the LEI or extend the LEI?

  • Applying for the LEI

    LEIs can only be issued by so-called Local Operating Units (LOU). In the Netherlands the Dutch Chamber of Commerce has been appointed as LOU. In other countries there is a number of LOUs like the Dutch Chamber of Commerce. Entities that cannot apply for a LEI at the Dutch Chamber of Commerce can apply for one at one of these LOUs. Entities that wish to apply for an LEI in a country where no LOU has been appointed, can visit the Global Markets Entity Identifier GMEI portal.

    Is your entity registered at the Dutch Chamber of Commerce? Then you can apply for an LEI at there. The Dutch Chamber of Commerce (and other LOUs as well) will charge costs for the application and the maintenance of the LEI. The current rates of the Dutch Chamber of Commerce can be found on their website.

    Once you have received the LEI, please send it to ABN AMRO as soon as possible. By doing so, you enable ABN AMRO to report the OTC derivatives transactions between you and ABN AMRO in a correct way.

    ABN AMRO cannot apply for the LEI for you. You have to do this yourself.

  • Extension of the LEI

    The LEI has to be extended once a year (every 12 months). A LEI that is not extended in time will no longer be valid. You need a valid LEI during the entire term of the derivatives transaction and as long as the reporting obligation is applicable.

  LEIs & clearing categories of ABN AMRO
  LEI  Clearing category  
 ABN AMRO Bank N.V. BFXS5XCH7N0Y05NIXW11 2
 ABN AMRO Clearing Bank N.V. G8ZTNESVNKW4NN761W05 1