As a global leader in data integrity and data validation, GS1 Canada is in a unique position to offer a trusted service for industry.

The Global Legal Entity Identifier Federation (GLEIF) is a not-for-profit organization established to support the implementation and use of the LEI. The GLEIF manages a network of partners, LEI issuing organizations such as GS1, to provide trusted services and open, reliable data for unique legal entity identification worldwide.

The LEI is a unique, 20-character alphanumeric code based on the ISO 17442 standard, which is assigned to legal entities that are counterparties to financial transactions. The LEI links back to a data set of critical information about the transacting entity, including ultimate entity ownership.

Each LEI code is assigned by an approved local operating unit, which benefits from local knowledge of infrastructure, corporate organizational frameworks and business practices.

An LEI can be requested for all parties in a financial transaction including, but not limited to:

International regulations drive the requirements for obtaining LEIs.

As of January 2018, there are 30 LEI issuing organizations globally, one of which is GS1. In turn, GS1’s network of member organizations – including GS1 Canada – can offer a LEI service as a Registration Agent.

In Canada, all counterparties to Ontario Securities Commission (OSC) derivatives transactions are required to have an LEI. Furthermore, the MiFID II/MiFIR implementing legislative acts in Europe may push financial market participants in Canada to obtain a Legal Entity Identifier (LEI).

As a not-for-profit association, GS1 Canada is committed to offering the LEI service at a low cost. GS1 Canada’s fees for issuing an LEI are 89 Euros for a new LEI and 59 Euros for a renewal. Fees are inclusive of all taxes. Fees are reflected in euros since GS1 Canada is a registration agent for GS1 global, which is based on Europe.