A Legal Entity Identifier (LEI) is a unique 20-character identification code issued to legal entities that participate in financial markets, used by financial institutions and regulators to identify counterparties. Since the EU's MiFID II directive took effect on 3 January 2018, an LEI has been mandatory for legal entities trading in securities — including Australian companies buying and selling listed instruments. If your company needs one, this is how the ordering process works with Australia LEI.
The application in three steps
Completing the initial application on our website typically takes around two minutes.
- Enter your company details. Complete the application form on our website. Because our database is interfaced with the Australian Business Register, we can request the required data directly from the register, which helps ensure your application complies with LEI number standards.
- Select the validity period. Choose how long you want the LEI to remain registered before its next renewal. We offer LEI numbers with a validity of up to five years.
- Pay by card or invoice. Pay securely with a debit or credit card, or request an invoice and pay by bank transfer. We will send an invoice and receipt that comply with your accounting standards. Payment can be made within 30 days of submitting the order.
After you submit the application, we will send you a power of attorney for signing. This authorises us to register and manage the LEI on your company's behalf.
What happens after you apply
Once your application is in:
- We validate the data you provided against the Australian Business Register or other sources.
- The LEI number is issued and sent to your email.
- The LEI number is entered into the GLEIF (Global Legal Entity Identifier Foundation) database, where any counterparty or regulator can look it up.
An LEI number is typically issued within 24 hours of us receiving your signed power of attorney; in general you can expect it within one to two working days of payment. If the legal structure of the company is complex — for example, a consolidation group — and additional information is required, issuance may take longer.
Multi-year registration
If you know your company will need its LEI for several years, a multi-year registration can be more convenient. For example, a three-year order covers the initial registration for one year plus automatic renewal for a further two years, so you do not have to handle the renewal yourself each year. We notify the legal entity every year, 60 days before the next renewal date, and usually perform the renewal 30–60 days before that date so the LEI remains continuously valid in the GLEIF database.
Renewing an existing LEI
An LEI must be renewed at least once a year to remain valid in the GLEIF database. If it lapses, it can no longer be used for financial reporting, so it is worth renewing in good time. The renewal application on our website takes around 90 seconds to complete; Australia LEI also monitors the validity dates of our clients' LEIs and will let you know when a renewal is due.
