Beta Version of LEI Search Tool 2.0 from GLEIF Provides Enhanced Options to Easily Access Open, Standardized and High Quality LEI Data
All stakeholders are invited to comment on the beta version of the new LEI search tool by June 30th 2019
Author: Stephan Wolf
Estimated Reading Time: 7 minutes
On 11 December 2018, the Global Legal Entity Identifier Foundation (GLEIF) published the beta version of its new Legal Entity Identifier (LEI) search tool 2.0. Using the tool, market participants can easily explore information on more than 1.3 million organizations contained within the public LEI data pool. Version 2.0 of the search tool provides enhanced functionality including the option to identify corporate ownership structures or pinpoint other identifiers that have been mapped to an LEI. With this new release, GLEIF offers improved access to a unique and free data source that allows corporate dots to be connected globally based on open, standardized and high quality LEI data.
New features introduced with the beta version of the LEI search tool 2.0
Any interested party can access and search the complete LEI data pool free of charge and without the need to register, using the web-based LEI search tool. Similar to a sophisticated, easy to use search engine, it empowers users to quickly find LEI data without any technical restrictions. With the launch of its LEI search tool 2.0, GLEIF has introduced additional features, including:
New user interface supporting quick and customized research: The new and intuitive user interface is built on a Google-like approach that allows users to quickly research specific information on a legal entity by entering a search term into a text bar. Queries can be tailored to the specific needs of LEI data users with the use of search options and filters.
Easily identifiable ownership information: Market participants can now identify the direct and ultimate parents of a legal entity and, vice versa, the entities owned by individual companies, provided that both child and parent entities have an LEI.
Other identifiers mapped to the LEI automatically showing with search results: GLEIF’s ‘Certification of LEI Mapping’ service ensures that organizations which map the LEI to their own identifiers use state of the art methodologies to do so. This cooperation model was pioneered together with SWIFT with the launch of the open-source Business Identifier Code (BIC)-to-LEI relationship files. The LEI search tool 2.0 automatically pins the corresponding BIC to an LEI record, where applicable. As new partners join the LEI mapping program, other identifiers linked to an LEI will also show with search results.
Information included in code lists published by GLEIF is resolved to human readable names: GLEIF maintains several code lists relevant to information included with an LEI record. The GLEIF Registration Authorities List assigns a unique code to business registers and other authoritative sources used by LEI issuers to validate the reference data connected to an LEI. GLEIF also publishes the Entity Legal Forms Code List which assigns a unique code to each entity legal form established across individual jurisdictions; e.g. limited liability partnership (LLP). The LEI search tool 2.0 not only displays relevant codes with the search results, but also resolves these into human readable names.
Dig deeper: The LEI search tool 2.0 expert mode
For those seeking to dig even deeper into the LEI data pool, the new LEI search tool 2.0 offers an ‘expert mode’ which enables users to configure and combine their own search filters to facilitate the design of complex queries. A complex query is one in which there is a combination of multiple, and potentially limitless, variables, e.g. to identify all LEIs registered within a defined timeline whose legal name contains the term ‘bank’ and that own companies in a specific country.
For detailed information on how to deploy the LEI search tool 2.0 in expert mode, refer to this dedicated GLEIF website page: How to Use LEI Search 2.0 (see ‘related links’ below).
All stakeholders are invited to provide feedback on the beta version of the new LEI search tool by June 30th 2019
The LEI offers market participants a standardized, one stop approach to entity verification in the digital age, facilitating quick, consistent and accurate information on both client organizations and other business partners and suppliers. The new LEI search tool 2.0 makes it even easier to take full advantage of the publicly available LEI data, supporting even more use cases and applications.
To ensure the tool continues to evolve in line with market needs, GLEIF invites comments on the beta version of the LEI search tool 2.0 by June 30th 2019 (email to email@example.com).
Connect the corporate dots with the LEI
The LEI connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure, answering the questions of 'who is who’ and ‘who owns whom’. GLEIF makes available the Global LEI Index. It contains historical and current LEI records including related reference data in one authoritative, central repository. The Global LEI Index is the only global online source that offers open, standardized and high quality legal entity reference data.
One of GLEIF’s key responsibilities is to ensure easy access to the full global LEI repository, free of charge to users, via an open data license. GLEIF offers various means to access the publicly available LEI data pool e.g. via its web-based search tool or its file download service. Subject to the selected mode of accessing the LEI data pool, users are able to source additional information relevant to an LEI record such as enriched reference data or other identifiers that have been mapped to the LEI.
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Stephan Wolf is the CEO of the Global Legal Entity Identifier Foundation (GLEIF). Since January 2017, Mr. Wolf is Co-convener of the International Organization for Standardization Technical Committee 68 FinTech Technical Advisory Group (ISO TC 68 FinTech TAG). In January 2017, Mr. Wolf was named one of the Top 100 Leaders in Identity by One World Identity. He has extensive experience in establishing data operations and global implementation strategy. He has led the advancement of key business and product development strategies throughout his career. Mr. Wolf co-founded IS Innovative Software GmbH in 1989 and served first as its managing director. He was later named spokesman of the executive board of its successor IS.Teledata AG. This company ultimately became part of Interactive Data Corporation where Mr. Wolf held the role of CTO.