What are the benefits of the multiyear plans?
A Legal Entity Identifier (LEI) is only valid for one year after the initial registration. The annual renewals ensure that data associated with an LEI remains accurate and won't become outdated. Although the system has been generated to benefit all parties involved, the renewals can become bothersome, especially if you have multiple LEIs in your management portfolio.
LEIAdmin, the leading LEI management solution, has pioneered multiyear plans. It's an automatic LEI renewal system that allows applicants to register LEI codes for up to five years.
Why were multiyear plans created?
The goal of the Global LEI System (GLEIS) was to create a transparent and up-to-date identification of legal entities that operate within the global financial system. The LEI code needs annual renewal to help ensure the relevancy of the associated data.
Once the deadline has passed, your registration defaults to "lapsed," and you won't be able to make trades until the code gets renewed. The renewal must be done with any chosen service provider one year after your initial registration.
The LEI renewal process updates the data related to a legal entity in the Global Legal Entity Identifier Foundation (GLEIF) database.
How do multiyear plans work?
When signing up for a multiyear plan, LEIAdmin will be responsible for automatically renewing your LEI for a chosen period. We'll test the LEI reference data against one listed on a local business registry and update it accordingly.
For example, if you sign up for a five-year multiyear plan in 2022. You'll be free from all renewal hassle and won't hear back from us before 2027 (30 days before the multiyear plan expires).
Benefits of the multiyear plans
- Multiyear plans will save you up to 20% of the annual fees.
- Signing up for a multiyear plan keeps you from the annual renewal hassle.
- You won't risk your LEI lapsing and having to deal with blocked trades.
We also make tailored pricing plans for high-volume clients. Get in touch, and we'll create a plan to suit your needs best!
Manage your LEIs with LEIAdmin
LEIAdmin is the leading LEI management solution on the market. In an industry where compliance is ever-changing and complex, LEIAdmin offers partners the ability to submit data once and receive actionable workflows and tasks based on their specific needs.
- User-friendly LEI administration process
- Data autofill and simplified forms
- Analytics and reports
- Bulk LEI
- Save time and money with multiyear plans
We promise the best service value and give you a price guarantee.
If you find a less costly offer from one of our competitors, we'll make sure to match it!