LEI code

This information is for all legal entities (Firms) registered in the EU or the EEA that are non-financial counterparties (NFCs) and conducting transactions in complex financial instruments. The information below is not applicable to individuals.
 
Adopted by the European Parliament and European Council, EMIR Regulation obliges parties involved in complex financial instruments to provide reporting to Trade Repository. ESMA (European Securities and Markets Authority) has approved the reporting obligations start date as 12 February 2014. Financial and Capital Market Commission may issue a warning or penalty to the company, in a case of non-compliance with the EMIR regulation.
 

Who needs the LEI code?

All legal entities (Firms) that are involved in complex financial instruments transactions.

What is the LEI code?

The LEI code (Legal Entity Identifier) is a 20-character alpha-numeric international identification code that identifies each legal entity conducting transactions in complex financial instruments. All transactions in complex financial instruments are reported to Trade Repository. With the LEI framework, there is now a global database for registering Firms and identifying them across financial markets.

Reasoning behind the LEI introduction

The drivers of the LEI initiative were the Group of 20 and Global LEI made available by the Global Legal Entity Identifier Foundation (GLEIF) to improve financial markets monitoring, transparency, as well as risk management. Global LEI adoption identifies credit risk of potential transaction partners, which promotes a set of preventive measures against financial crisis.

What information should be provided to obtain the LEI code?

  • Legal name;
  • Legal address;
  • Registration country;
  • Registration number;
  • Legal entity’s power of attorney, if the request is made by the authorized individual/legal entity.

Costs associated with obtaining the LEI code

Legal entities should apply for the LEI code by themselves or delegate it to authorized persons. It can take from 2 to 6 weeks to obtain the LEI code. 

Clients can facilitate their processes by authorizing Renesource Capital (Company) to apply for the LEI code and by delegating reporting transactions in complex financial instruments.

Renesource Capital provides full legal and technical support in obtaining LEI code without additional fees!

Please contact us in regards to obtaining the LEI code:

e-mail: trading@renesource.com

telephone: +371 67 092 737

A Firm can obtain the LEI code by itself. A legal entity (Firm) should chose a certified LEI issuing organization to apply for a LEI code. There are costs related to obtaining and maintaining the LEI code charged by certified LEI issuing organization:

Please follow the link to find other certified LEI issuing organization: http://www.leiroc.org/publications/gls/lou_20131003_2.pdf

What are the next steps after obtaining the LEI code?

Once The Company has received LEI code please notify Renesource Capital (Company).

Renesource Capital must be notified about the legal entities LEI code both when the legal entity (Firm) would prefer to report to Trade Repository itself or would like to authorize The Company to perform reporting transaction in complex financial instruments on Client’s behalf.

According to the power of attorney and legal entity’s (company’s) submitted LEI code, the Firm will report to the Trade Repository.

Power of attorney to obtain the LEI code and reporting to TR

If the LEI code is already obtained

Dear Clients, if You already have the LEI code, please fill in the following form and email it to: trading@renesource.com  or contact us at +371 67092737.

Client’s notification about LEI code

If You prefer that the Firm reports transactions in complex financial instruments to the Trade Repository, please contact Renesource Capital either by calling on +371 67 092 737 or writing to the following e-mail: trading@renesource.com.

Risk Disclosure Statement. Margin transactions (Forex, contracts for difference CFD, futures and futures options, stock options, REPO transactions, transactions in over-the-counter derivatives and transactions using broker credit, including selling short) involve higher risk. The level of risk increases with the leverage ratio. As the result of margin transactions, relatively high profits are possible with low level of initial investments, as well as significant losses which may exceed the principal amount of investments or the amount of the collateral. Please ascertain whether margin transactions in their essence and content suit the risk profile that was assigned to you by AS IBS Renesource Capital and whether the content of margin transactions corresponds to your investment goals.

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