The Legal Entity Identifier is a unique 20-character alphanumeric identifier defined by the ISO (International Organization for Standardization). Essential information about the parties to a financial transaction can be quickly referenced with the use of the LEI Code in India. It functions as a worldwide directory that provides much-needed transparency for all parties involved by detailing the ownership structure and the parties’ associated details.
Formation / Structure of Legal Entity Identifier (LEI) code
LEI is a unique number which consist of 20 alphanumeric number, below is the formation of this 20 alphanumeric LEI code.
- Characters 1-4 (for LEIL–3358), a four-character prefix assigned by the ROC Secretariat and unique to each Local Operating Unit (LOU).
- 2 reserved characters – 00, 5-6 characters
- The LOU generates and assigns characters 7-18, 12 to an entity according on transparent and sound allocation principles.
- Under ISO 17442, characters 19-20 have two check digits.
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