05 Jun Legal Entity Identifier: Making Life Easier to Trade Financial Instruments
Having been launched in 2014, the Global Legal Entity Identifier Foundation has managed to promote and support the use of LEI to a great extent across the world. The idea was to find a solution to the constantly rising threats of financial fraud and cyber crimes and secure the stock markets. The Legal Entity Identifier (LEI) is a unique identity that is assigned to companies that are enlisted in the stock markets.
The 20-digit alpha-numeric code acts as the connector of a company to its relevant information. The code is in line with ISO 17442 standard and makes it easier for brands and prospective investors in more ways than one. Endorsed by the Global Stability Board (GSB), an LEI number allows users to check the exact legal status of any company in almost no time. Adopted by financial regulators across the world, LEI is probably the best answer of modern technology in fighting financial fraud.
What makes an LEI search so important?
Legal Entity Identifier is one of the better ways to assess the credibility and authenticity of an organisation. It has managed to make it simpler for users willing to invest and trade in company shares as well as trading in other Financial Instruments. LEI data allows interested parties to gain access to the right information about a entity. Credibility and authenticity are easily two crucial parameters that dictate financial investment; this is exactly where LEI data can prove to be handy.
How can companies opt for LEI registration?
Registering for an LEI is a simple process that requires an individual to fill in the basic details of the concerned organisation. Useful information such as the owners name and details, legal license numbers, company code, and nature of business can be enough for a user to be setup as part of the LEI registration. However, fraudulence is taken extremely seriously and a team of experts regularly monitor the entire database to trace such activities. Thus, it is important for users to ensure that they enter only the correct information.
How authentic is Legal Entity Identifier data?
The concerned LEI details of a company are thoroughly crosschecked before filing a new data to avoid having duplicate entries. This ensures that the database remains accurate and reliable. With the option of self-registration, the power lies in the hands of the users. One can choose to submit the required details and supporting documents to get registered in almost no time. For people wanting to search or register more than 10 LEI numbers at the same time, the option of bulk search has been introduced.
The entire database and supporting security arrangements are thoroughly maintained. The introduction of interactive dashboards has also made it easier for users to have a simple overview of overall information.
Wrapping it up
Legal Entity Identifier search tools have made it easier, simpler, and safer for investment agencies, companies and interested individuals in more ways than one. The concept ensures safe and secure transfer of requested company details in just a few seconds. All you need to do is to give this special technology a try to be able to understand the wide range of benefits associated with it. As a company willing to register, you simply need to enter the basic details. The website interface is user-friendly and fast, ensuring maximum customer satisfaction. So, what are you waiting for? Get registered today!
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