Tuesday October 29 2013

News Source: Global Exchanges

Focus: Takeover and Acquisition

Type: General




The Irish Stock Exchange (ISE) has launched its pre-Legal Entity Identifier (LEI) service. The ISE is sponsored by the Central Bank of Ireland as the pre-LEI provider in Ireland and is now providing an online application service for customers through a new website www.ISEdirect.ie.

LEI is a global reference code which uniquely identifies each legal entity that engages in a financial transaction. The LEI is a new regulatory initiative designed to enable the identification and linking of parties to financial transactions which will facilitate the management of counterparty risk.

The LEI requirement is part of the international response by regulatory authorities to the global financial crisis. The range of entities requiring LEI codes is broad and includes all listed legal entities, financial intermediaries, banks and financial companies. While the global LEI standards are still in development, the need for entities to prepare for LEI implementation is growing.

Click on the above link for more details.