Please be aware that as part of the reporting requirements under the European Markets Infrastructure Regulation (EMIR) and Securities Financing Transactions Regulation (SFTR), a Legal Entity Identifier (LEI) code is mandatory for any legal entity involved in financial transactions or operating within today's financial system.
If a client wishes to access products such as Derivatives, Margin Lending, or Securities Lending, an issued LEI code must be obtained. The LEI code should remain active as long as the mentioned products are enabled on the client's account. Failure to provide or maintain an issued LEI code will result in restricted access to these products. However, for clients who solely trade cash products such as Stocks and Bonds, an expired LEI code is still acceptable.
By the end of September 2023, Saxo will send email reminders to asset managers regarding their end-clients whose LEI codes are approaching expiry. LEI renewal reminder emails will be sent 30 days prior to LEI expiry followed by another reminder within 7 days.
The reminders will only be sent to the primary email address of the asset manager organization to help ensuring a timely renewal of the LEI codes.
Instruction to renew the LEI code
- Renewing LEI in the Netherlands - here.
- Renewing LEI in Belgium - here.
Information about LEI globally can be found here.
If you have a general questions about this, please contact Saxo Corporate Onboarding Team by submitting a case to “Existing corporate clients” through SaxoPartnerConnect.