The Global Legal Entity Identifier Foundation (GLEIF)has now launched its Legal Entity Identifier API.Developers can directly aess the plete LEI data pool in real-time.The new API allows anisations to set up fast,customized and automated aess to the Global LEI Index,which ntains historical and current LEI rerds in a central repository.

Why is this useful?The GLEIF have launched this new service based on user feedback.It allows internal systems to link directly to the most up to date information ntained within the LEI Index.That information can be used to enhance a range of processes including for client on-boarding and Know Your Customer purposes.

The MiFID II rules around trade reporting oblige every financial trade with an EU entity to be rerded using an LEI to unambiguously identify trading unterparties.The phrase “No LEI,No Trade”is echoing in the halls of financial institutions around the world.In essence,the new regulations will rapidly expand the number of panies that have LEIs.

This,in turn,means that panies can start to embed LEIs into their own processes and benefit from a universal and free identifier.The new API will certainly help this process.

Regulators and enterprises that use XBRL to llect information can benefit from the LEI in the same way,leveraging the LEI Taxonomy that allows nsistent representation of the identifier within XBRL reports.

Find more about it here.

中文新闻：GLEIF针对LEI推出新的API