LuxCSD’s Legal Entity Identifier (LEI) issuance service for Luxembourg-domiciled entities and investment funds is now operational and accessible via luxcsd.com.

The Regulatory Oversight Committee (ROC) – a committee of global regulators – has endorsed LuxCSD as a pre-local operating unit (LOU) to issue LEIs. The ROC endorsement is a prerequisite for using Luxembourg LEIs for reporting financial transactions on an international level rather than just for domestic transactions. All EU counterparties entering into derivative trades are required to have an LEI to meet the reporting obligations under the European Market Infrastructure Regulation (EMIR).

To fulfil its new mandate, LuxCSD has engaged in a strategic collaboration with DTCC (Depository Trust & Clearing Corporation) to provide the infrastructure for the LuxCSD LEI services. The combination of LuxCSD’s local expertise to assist Luxembourg entities in obtaining LEIs and to support the validation requirements set by the ROC and the proven capabilities of the Global Markets Entity Identifier (GMEI) utility, operated by DTCC in collaboration with SWIFT, will provide Luxembourg with a truly federated and robust model.

The LEI is a 20-digit code that connects to key reference information, enabling the clear and unique identification of legal entities and/or fund companies in global financial markets. The ROC has allocated the 4-digit prefix #2221 to LuxCSD.

Patrick Georg, General Manager of LuxCSD, said: “Our new mandate to run the Luxembourg LEI issuance service allows us to assist local market participants in complying with the reporting requirements for domestic and cross-border transactions under EMIR and all other reporting requirements throughout the world. We will actively engage with relevant industry organisations in Luxembourg to shape the LEI service for the Luxembourg market and to convey the views of the Luxembourg market to the Regulatory Oversight Committee as well as to the Global LEI Foundation.”