Project Aperta: The LEI Makes Cross-Border Open Finance Simple
What is Project Aperta? Project Aperta is an initiative led by BIS (Bank for International Settlements, the cooperation body for central banks). In short, it tested cross-border open finance interoperability. The project was run by the BIS Innovation Hub Hong Kong Centre. During the project, the prototype connected the open finance networks of five markets: […]
Agent Name Service and the LEI: Who Is Behind the AI Agent?
AI Agents Are Already Acting on Behalf of Companies AI agents are no longer an experiment. They search for information, compare offers, fill in forms, and interact with other systems on behalf of companies. According to WEF (World Economic Forum, an international organisation for economic cooperation) data, 82% of executives plan to adopt AI agents […]
LEI Code and India: How the World’s Largest Democracy Made LEI Mandatory
Why India Decided to Act India’s financial market is enormous. Every day, hundreds of millions of transactions move between banks, businesses, and financial institutions. For years, however, a familiar problem persisted: who actually stands behind a transaction? The 2008 financial crisis made that question impossible to ignore. Regulators discovered they could not quickly identify which […]
LEI Code and the FDTA: What the U.S. Financial Data Transparency Act Means for Businesses
Why U.S. Financial Data Has Long Been Fragmented U.S. federal financial regulation has historically operated in silos. Different regulators used different systems, different formats, and different identifiers for the same entities. During the 2008 financial crisis, regulators discovered they could not quickly identify which market participants were exposed to failing counterparties, because the data simply […]
LEI Code and the European Business Wallet
The LEI code plays a central role in Europe’s new European Business Wallet — a harmonised digital identity tool for EU businesses. The European Union is reshaping how businesses prove who they are, sign documents, and interact with authorities across borders. The LEI (Legal Entity Identifier, a unique global identifier for legal entities) is key […]
LEI Code and MiFID II: No LEI, No Trade
What Is MiFID II and Why It Matters for Your Business The Markets in Financial Instruments Directive, known as MiFID II, is an EU legislative framework that governs trading in financial instruments on EU markets. It entered into force on 3 January 2018, together with the directly applicable Markets in Financial Instruments Regulation (MiFIR). MiFID […]
LEI Code and Anti-Money Laundering
What Is AML and What Does It Mean for Your Business? Anti-money laundering (AML) compliance is no longer a concern limited to banks and financial institutions. In fact, the European Union’s new regulatory framework tightens the rules significantly and extends obligations to a much broader range of businesses. As a result, companies that want to […]
LEI Code and Payment Fraud
Why Payment Fraud Is Every Business’s Problem Imagine your accounts payable team receives an email. It looks exactly like a message from a long-standing supplier, the same logo, the same sign-off, the same familiar tone. The message states that the supplier’s bank details have changed and asks you to direct the next payment to a […]
LEI code and EMIR
The derivatives market in Europe is heavily regulated. Since 2012, the European Market Infrastructure Regulation (EMIR) has required all parties to derivative transactions to report their trades. One of the foundational requirements of that system is a valid LEI code. If your company enters into derivative contracts, whether currency swaps, interest rate swaps, futures, or […]