KDPW reduces LEI issuance and renewal fees 15 June 2018Poland Reporter: Maddie Saghir
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The fees for the issuance and renewal of legal entity identifiers (LEIs) in KDPW will be reduced by 20 percent on average as of next month on 1 July.
KDPW is the only Polish institution authorised to issue LEIs in the global LEI system. The issuance of LEIs forms a part of the portfolio of KDPW Group services, which support the operation and development of the Polish financial market.
The LEI is a globally unique identifier of entities operating on the financial markets. KDPW manages a database of more than 14.9 thousand LEIs issued to companies in Poland and beyond.
The obligation of legal entities to obtain and use and LEI is imposed by European regulators, which include the European Market Infrastructure Regulation (EMIR), REMIT, the second Markets in Financial Instruments Directive (MiFID II)/Markets in Financial Instruments Regulation (MiFIR), Central Securities Depositories Regulation (CSDR) and Securities Financing Transactions Regulation (SFTR).
Under these regulations, the implementation of the LEI standard is expected to improve the transparency and safety of the financial markets.
Additionally, the obligation to hold an LEI applies to all legal entities and individuals carrying out business activities if they trade in derivatives.
The derivatives are required to be reported to trade repositories. It is expected that the LEI obligation will soon cover a broader range of entities including those trading on the crash markets as well as issuers.
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