The Legal Entity Identifier (LEI) is a global method for identifying legal entities. The framework and execution of the LEI system is a direct reaction to high-level requirements made at the G20 forum, which were materialized by proposals from the Financial Stability Board and other financial market authorities. These requests derive from the realization that without a global identification system for financial transaction counterparties, the economic risk a crisis on a much larger scale than the one that occurred in 2008. For more information regarding the LEI number please visit the website Leiservice.com
What is LEI and how does it affect the economy?
The global economy is based on a set of agreements and financial operations, including a massive number of cross-border contracts that span the world, resulting in complicated and complex patterns. A large portion of the network could collapse if a single crucial node fails, potentially generating global … Read more