LEI Data | Global LEI Index

Download Global LEI System Business Report


  • Date: 2017-07-13
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The Global Legal Entity Identifier Foundation (GLEIF) publishes quarterly reports, which highlight key developments relevant to the adoption of the Legal Entity Identifier (LEI). Specifically, the reports assess annual growth and renewal expectations, evaluate the level of competition between LEI issuing organizations operating in the Global LEI System and analyze LEI renewal rates and reference data corroboration. Starting with the second report published in July 2017 we also deliver statistics on direct and ultimate parent information provided by legal entities.

The reports are derived from the Global LEI Index, which contains historical and up-to-date LEI records including related reference data in one authoritative source. The reference data provides information on a legal entity identifiable with an LEI. The Global LEI Index is the only global online source that offers open, standardized and high-quality legal entity reference data. Interested parties can access and search the complete LEI data pool using the web-based LEI search tool developed by GLEIF.

The quarterly Global LEI System Business Reports make available the following data:

State of play of LEI issuance and LEI growth potential: Learn more

GLEIF, in partnership with the LEI Regulatory Oversight Committee and the LEI issuing organizations, is on a journey to increase the rate of LEI adoption so that in the future, the Global LEI Index will capture an increasing number of entities engaging in financial transactions globally, providing a 360-degree view.

The quarterly Global LEI System Business Reports detail:

  1. Total number of LEIs issued globally and recent issuance trends.
  2. Countries with the most LEIs and high rates of new LEI issuance.
  3. Important activity by LEI issuers.
  4. Overall LEI growth expectation for the year.
Competition in the Global LEI System: Learn more

LEI issuers – also referred to as Local Operating Units (LOUs) – supply registration, renewal and other services, and act as the primary interface for legal entities wishing to obtain an LEI. A legal entity is not limited to using an LEI issuer headquartered in its own country; instead, it can use the registration services of any LOU that is accredited and qualified to validate LEI registrations within its authorized jurisdiction(s). The Global LEI System is designed to encourage competition between LEI issuers to the benefit of legal entities seeking to obtain an LEI. The fees charged for the issuance and maintenance of an LEI are entirely a matter for the LEI issuing organizations and must be cost-based.

The quarterly Global LEI System Business Reports detail:

  1. Least competitive markets with more than 1,000 LEIs based on the number of LEI issuers providing services in this jurisdiction.
  2. Most competitive markets with more than 1,000 LEIs based on the number of LEI issuers providing services in this jurisdiction.
  3. A legal entity is free to change the LEI issuer responsible for managing its LEI, i.e. to transfer its LEI and related reference data from the former LEI issuer (transfer out) to the chosen issuer (transfer in). Starting with the second report published in July 2017, we show the LEI issuers that have the most transfer activity.
LEI renewal rates: Learn more

Renewal means that the reference data connected to an LEI is re-validated annually by the managing LEI issuer against a third party source. Legal entities that have obtained an LEI are obliged to renew it regularly. This is a key feature that distinguishes the LEI from other identifiers for the following reasons: Firstly, the principle of renewal is essential to ensure that the information available on a legal entity with an LEI is accurate and up to date. No other global and open entity identification system has committed to a comparable strict regime of regular data verification. Secondly, the users of the data are aware of whether the information related to a specific LEI has been re-validated recently or not. The Global LEI System is unique in providing absolute transparency on the timeframe when data has last been verified. If a legal entity fails to renew and re-certify its LEI registration by the ‘Next Renewal Date’ stated with its LEI reference data, then the registration status of this LEI will be set from ‘issued’ to ‘lapsed’.

The quarterly Global LEI System Business Reports detail:

  1. Total number of LEIs duly renewed versus the total number of LEIs issued globally.
  2. Jurisdictions with more than 1,000 LEIs featuring the highest renewal rates.
  3. Jurisdictions with the highest rates of lapsed LEIs.
Level 1 reference data corroboration: Learn more

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’. The LEI-Common Data File (CDF) format defines how LEI issuing organizations report their LEI and Level 1 reference data. The CDF format specifies the field ‘ValidationSources’. If the value included with this field in the publicly available LEI data record states ‘Fully Corroborated LEI’, this means: Based on the validation procedures in use by the LEI issuer responsible for managing this LEI record, there is sufficient information contained in authoritative public sources to corroborate the information that the legal entity has provided for the record.

The quarterly Global LEI System Business Reports detail:

  • Percentage of total LEIs issued that are fully corroborated by the LEI issuer.
Statistics on the reporting of parent information by legal entities: Learn more

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 quarterly Global LEI System Business Reports detail:

  1. Records related to direct and ultimate parents that have an LEI: If the direct and / or ultimate parent of an LEI registrant has obtained an LEI, the following applies: The child legal entity will be obliged to provide the LEI, respectively, of its direct and ultimate parent to the LEI issuing organization. The ‘Relationship Record Common Data File format’ applies to relationship records for LEI registrants whose direct and ultimate parents have obtained an LEI. The quarterly Global LEI System Business Reports identify the percentage of reported relationship records where parents have an LEI. In addition, the reports state the number of child entities associated with a parent entity that has an LEI. The reports also indicate the percentage of fully corroborated relationship records. This means the relationship data provided by the child entity has been validated against an explicit relationship statement found in key sources (e.g. consolidated financial statements).
  2. Records related to direct and ultimate parents that do not have an LEI: If the direct and / or ultimate parents of an LEI registrant do not have an LEI, the following applies: The child legal entity will be obliged to report reference data on its direct and ultimate parents to the LEI issuing organization in accordance with the document, titled ‘Parent Reference Data Format’. During an initial phase, the reference data reported by a child entity for its direct and ultimate parents without an LEI will not be published. The quarterly Global LEI System Business Reports identify the percentage of reported relationship records where parents do not have an LEI.
  3. Records related to legal entities that do not have a direct or ultimate parent: The quarterly Global LEI System Business Reports identify the percentage of LEI registrants that do not have a direct or ultimate parent according to the definition used for Level 2 data collection. This will include for instance (i) the entity is controlled by natural person(s) without any intermediate legal entity meeting the definition of parent in the Global LEI System; (ii) the entity is controlled by legal entities not subject to preparing consolidated financial statements (given the definition of parents in the Global LEI System); (iii) there is no known person controlling the entity (e.g., diversified shareholding).
  4. Records related to legal entities that have opted out of providing parent information: The quarterly Global LEI System Business Reports identify the percentage of LEI registrants that opt out of providing parent information for exceptional reasons. (For detailed information on reasons to decline providing parent information, click here.)

GLEIF also makes available the ‘Business Reporting Dictionary’, which defines formulas and algorithms used to report on the LEI activity highlighted with the quarterly reports.

Download as PDF: Business Reporting Dictionary (Version 1.1)

Download as PDF: Global LEI System Business Report (2017-07-14)

* GLEIF published version 1.0 of the Q2 2017 Global LEI System Business Report on 13 July 2017. This was replaced by version 1.1 on 14 July 2017. With version 1.1 of the report, figures 2 and 4 on page 10 identifying the percentage of fully corroborated relationship records have been updated to state 24%, respectively. The summary text included in the report has been updated accordingly.

Global LEI System Business Report | Q2 2017

2017-07-14_business_report_v1.1

Any interested party can re-create the Global LEI System Business Report or metrics within this report in two easy steps:

  1. Download the Concatenated File in your preferred file format.
  2. Reference the Business Report Dictionary for a business definition of each metric along with pseudo code for practical implementation.

Comments or questions on the quarterly Global LEI System Business Report are invited by email to businessreport@gleif.org.