LEI codes follow a specific 20-character format based on ISO 17442:
9695 00 ABCD1234EFGH 42
LOU Reserved Entity Check
LEI (Legal Entity Identifier) is a unique 20-character alphanumeric code that identifies legal entities participating in financial transactions worldwide. It was established following the 2008 financial crisis to improve transparency in global financial markets.
ISO 17442 is the international standard that defines the structure and format of LEI codes. It specifies the 20-character format and the rules for generating and validating LEI codes, including the MOD 97-10 check digit algorithm.
A LOU is an organization authorized by the Global Legal Entity Identifier Foundation (GLEIF) to issue and maintain LEI codes. Each LOU has a unique 4-character prefix that appears at the beginning of all LEIs they issue.
No, these are randomly generated LEI codes for testing and development purposes only. They follow the correct format and have valid check digits, but do not correspond to actual registered legal entities.
LEI codes are required for any legal entity involved in financial transactions, including companies trading securities, derivatives, or other financial instruments. Regulations like MiFID II in Europe mandate LEI usage for reporting purposes.
LEI check digits are calculated using the MOD 97-10 algorithm (ISO 7064). Letters are converted to numbers (A=10, B=11, etc.), and the result is calculated as 98 minus the remainder when divided by 97.