Level 2 Data: Who Owns Whom
The Legal Entity Identifier (LEI) connects to key reference data that provides the information on a legal entity identifiable with an LEI.
The business card information available with the LEI reference data, e.g. the official name of a legal entity and its registered address, is referred to as ‘Level 1’ data. It provides the answer to the question of ‘who is who’. In May 2017, the process of enhancing the LEI data pool, by including ‘Level 2’ data to answer the question of ‘who owns whom’, began. This data allows the identification of the direct and ultimate parents of a legal entity and, vice versa, in order that the entities owned by individual companies can be researched.
The collection and validation of Level 2 data by the LEI issuing organizations for LEIs that existed prior to May 2017 takes place with the annual renewal of the LEI. Renewal means that the reference data connected to an LEI is re-validated annually by the managing LEI issuer against a third party source. It is expected that Level 2 data for the complete LEI population will be available in the course of the first half of 2018, i.e. towards the end of the one-year renewal cycle after the date when collection of Level 2 data started.
Once parent information for the entire LEI population is available, the Global Legal Entity Identifier Foundation (GLEIF) will provide a unique and free data source that allows corporate dots to be connected globally based on open, standardized and high quality LEI data.
Connect the corporate dots globally with open, standardized and high quality LEI data.
For detailed information on how LEI issuing organizations report Level 2 data, and to download related technical documentation developed by GLEIF, refer to these dedicated GLEIF website pages:
- Level 2 Data: Relationship Record (RR) CDF Format.
- Level 2 Data: Parent Reference Data Format.
- Level 2 Data: Reporting Exceptions Format.
The ‘GLEIF Concatenated Files’ include specific information on an LEI record and related reference data based on the relevant reporting format. Level 2 data on who owns whom is published with separate files on the GLEIF website. This avoids any disruption to the established use of Level 1 data by market participants. The GLEIF Concatenated Files which contain the Level 2 information related to an LEI registrant are available for download here.
The principles governing the collection of data on direct and ultimate parents in the Global LEI System are set out in a dedicated policy document published by the LEI Regulatory Oversight Committee in March 2016.