The following parties need or will need an LEI:
- investment firms
- operators of trading venues
- approved reporting mechanisms
- issuing institutions
- parties to a derivatives contract that are companies
- clients of investment firms and banks who are legal entities and eligible for an LEI (for example companies or legal persons, foundations, church societies, sole traders or self-employed persons without personnel) if they buy or sell or obtain financial instruments (for instance, shares, bonds, futures or options).
- Undertakings for collective investment in transferable securities (UCITS) and alternative investment funds (AIF), including common contractual funds (CCF’s) and subfunds. It is important to note that every subfund needs its own LEI.
- Management companies of UCITS and/or AIF
- Depositaries of UCITS and/or AIF
The extension of an LEI is mandatory for companies that themselves have a reporting obligation. This includes investment firms, operators of trading venues, approved reporting mechanisms and parties to a derivatives contract that are companies.