The Global LEI System

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In 2011, the Group of Twenty (G20) called on the Financial Stability Board (FSB) to provide recommendations for a global Legal Entity Identifier (LEI) and a supporting governance structure. This led to the development of the Global LEI System, which, through the issuance of LEIs and verifiable LEIs (vLEIs) and the maintenance of the Global LEI Index, enables the unique identification of legal entities participating in financial transactions and other official interactions worldwide.

Global Legal Entity Identifier Foundation (GLEIF) provides many services to support its partners in the Global LEI System and optimize the quality, reliability, and usability of the LEI and its associated data. These services, including the accreditation of LEI Issuers and the qualification of vLEI Issuers, ensure the operational integrity of the Global LEI System and enable its utility as a global Digital Public Infrastructure.

The Global LEI System operates in three tiers:

To ensure that the Global LEI System evolves in line with user requirements, GLEIF engages key industry players — including data and technology vendors, service providers, financial institutions, corporations, and trust service providers — through the GLEIF Partners Program. The program fosters collaboration, knowledge-sharing, and the adoption and integration of the LEI and vLEI across sectors.

A Network of Federated Services

The Global LEI System is a federated system that includes a variety of partners under contract to GLEIF, such as LEI Issuers (also referred to as Local Operating Units (LOUs)), vLEI Issuers (also referred to as Qualified vLEI Issuers (QVIs)). It also comprises end-user organizations and individuals that consume LEI data under GLEIF’s Open Data License, as well as other partners collaborating with or supporting GLEIF under individual agreements. Regulatory oversight is provided by the Regulatory Oversight Committee.

Global LEI System as a legal network

Agreements

Partners under contract to GLEIF are required to meet certain standards of service and quality, to maintain free and open access to LEI reference data. These Master Agreements define the rules and technical standards that partners under contract to GLEIF must adhere to. They also define:

• The services provided by GLEIF to the partner or to the general public.
• The mandatory services provided by the partner to the Global LEI System.

Open Data License

The Open Data License ensures that the LEI and LEI reference data are open, and free public access is guaranteed for all end users. This means the data is non-proprietary, has no access restrictions, and is continuously and readily available. Unrestricted access to the LEI and LEI reference data is a core public service of GLEIF.

Individual Agreement

An Individual Agreement applies where GLEIF engages service providers or where a service provider requests GLEIF provide a guarantee, for example, a service level metric.