TISE Launches New LEI Service

The International Stock Exchange (TISE), which is headquartered in Guernsey, has launched a new service to assist local financial services firms with obtaining a Legal Entity Identifier (LEI).

An LEI is a unique 20-character alphanumeric identification code designed for regulators to identify all legal entities that are engaging in financial transactions.

Some entities have already been required to have an LEI but the scope is set to widen significantly. From 3 January 2018, all entities within the EU, including the UK, which are subject to the Market in Financial Instruments Directive II (MiFID II) and its associated regulations – or non-EU entities wishing to transact with such entities – must have an LEI. If they do not, then they will not be able to trade.