About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Australia Sees Groundswell in Demand for LEI Registrations

Subscribe to our newsletter

The year 2019/20 saw a doubling of LEI registrations in Australia, according to APIR Systems, a provider of essential infrastructure for the wealth management industry in Australia, including acting as an official registration agent for the issuance of LEIs.

Coming into legal force in Australia on October 1, 2019 after numerous postponements, there has been a groundswell of sign-ups over the past six months – not least because of the hardline enforcement stance taken by the Australian Securities and Investments Commission (ASIC), which has led some brokers to block fund owners and derivatives traders if they lack LEIs.

GS1 Australia, another major domestic issuer of LEIs, noted earlier this year that it too has reported a significant influx of requests, following on from a “major increase” in the last quarter of 2019.

Over 1.2 million LEIs have been issued internationally and 17,000 identifiers have been issued to date in Australia, as of end-2019. With the LEI deadline for foreign companies and trusts in Australia also coming into force in March 2020, and with limited relief provided by ASIC due to the coronavirus, stakeholders are continuing to work to the “no LEI, no trade” maxim.

APIR Systems this week launched multi-year registrations and renewals in response to the increased demand, enabling entities to be registered and renewed for three or five consecutive years – reflecting the broader growth of LEI activity in the Australian market.

CEO Chris Donohoe predicts a “reasonable proportion” of APIR’s 3000 LEI clients to renew on their multi-year arrangements, with the new offering also providing impetus for prospective clients seeking to streamline the level of administration associated with the renewal process.

“Instead of annual engagement, it will now only be every few years, which will significantly improve the client experience through reduced administration. It’s not only a cost saving, but we’ve also simplified the user experience when clients are applying and renewing an LEI, which is a requirement in the trading of certain financial instruments,” he explains.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to gain operational efficiency in corporate actions processing

While the risk associated with corporate actions is well established, many financial institutions continue with manual processing in the back office. More often than not, corporate actions information is manually keyed in and event processing lacks automation. This results in operational inefficiency, and financial risk due to missed events or simply getting it wrong. These...

BLOG

Toronto-Based TMX Datalinx Opens ESG Data Hub

TMX Datalinx, Toronto-based TMX Group’s information services division, has opened an ESG data hub designed to support global clients’ integrating ESG in investment decision-making processes. As well as providing TMX Datalinx real-time and historical data, the TMX ESG Data Hub provides data from external sources including OWL, a fintech transforming how ESG data is gathered,...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...