White Label Clients
28 August 2017
Monthly Notification, Saxo Bank
To comply with upcoming changes to EMIR and MiFID II reporting requirements all corporate entities need to provide their LEI (legal entity identifier) by 1 ...
To comply with upcoming changes to EMIR and MiFID II reporting requirements all corporate entities need to provide their LEI (legal entity identifier) by 1 October 2017.
Under the new changes, Saxo is required to collect valid LEI codes from all corporate clients, legal entities and registered businesses.
If you are delegating EMIR reporting to Saxo, we will also need to be provided with LEIs on all of your clients fitting this definition
If you are yourself performing the reporting, we encourage you to equally obtain all the LEIs of your clients fitting this definition.
How for your clients to obtain your LEI
To obtain a LEI code simply click the link below and follow the prompts. It will take approx. 1-2 weeks to receive a LEI after registering.
Registering for a new LEI costs USD$119 and codes need to be renewed annually for USD$99.
To make this process as simple as possible we have organized a promo code to enter during the registration process, which will ensure that the applicant do not need to renew until December 2018. This promo code is SaxoLEI2018.
Please note NordLEI is not a partner of Saxo Bank, and Saxo receives no additional benefit from this promotion.
To obtain a LEI; click here.
How to provide Saxo with a LEI
Once your clients have received a valid LEI, please update this in Saxo Tools for your clients.
What happens the LEI is not provided by 1 October?
If a LEI is not provided by 1 October 2017, Saxo cannot perform delegated 3rd party EMIR reporting for your underlying clients without LEI.
If you have any questions please do not hesitate to contact your Account Manager.