The Legal Entity Identifier enables transparent transactions on the financial market and protects against abuse.
KSV1870 and Register-LEI are intensifying their cooperation, making the global capital market more secure. The Legal Entity Identifier (LEI) is a globally unique identifier for legal entities in the financial market that was introduced in 2012. This is mandatory evidence for companies of all sizes to be able to carry out transactions with securities or derivatives on European financial markets – the LEI must be renewed every year.
As a certified registration agent, Register-LEI not only takes care of the legal entity identifier of companies themselves, but also provides support in the areas of registration, administration and renewal of the LEI, which is valid for one year. In cooperation with Austria’s leading association for the protection of creditors, Register-LEI offers a comprehensive service and guarantees legally compliant implementation. “From experience we know that registering an LEI is a tiresome but necessary obligation for many companies. As a service-oriented company, we take on the entire management so that our customers can concentrate fully on their core business, ”explains Michael Fux, CEO of Register-LEI.
Basis for financial transactions
In order to be able to carry out transactions of any kind with securities or derivatives on European financial markets, all legal entities need a mandatory LEI. Using this alphanumeric code, companies and their dependencies can be displayed, which increases transparency in securities trading and prevents misuse. “With immediate effect, the KSV1870 and Register-LEI combine their respective product and service-related competencies and thus ensure more stability on the capital market,” explains Gerhard Wagner, Managing Director of KSV1870 Information GmbH. As part of this cooperation, companies receive the LEI including further support, without loss of time and with the certainty of legally compliant implementation. Registration takes place directly on the website www.register-lei.at/
Register-LEI: Successful internationalization
Apart from this cooperation, 2020 was a very successful year for Register-LEI. Activities in the international market in particular continued to pick up speed. In Germany, the number of new registrations has increased by around 50% compared to the previous month. The next expansion steps lead to Switzerland and Liechtenstein. “We see two aspects that have recently brought considerable added value for Register-LEI: on the one hand, the cooperation with KSV1870, which is highly regarded within the Austrian economy, and, on the other hand, a successful entry into the international market. The numbers are rising steeply and offer a solid basis for 2021 “, summarizes Fux.
Register-LEI registers, transfers and extends Legal Entity Identifiers (LEI) for business customers. Register-LEI was founded in 2018 by Michael Fux and Georg Melber and offers services in Europe, Australia and India. More under www.register-lei.at.
Source: KSV1870 Press Release