LEI Under EMIR
EMIR (the European Market Infrastructure Regulation) is one of the main rules that makes an LEI necessary if your entity deals in derivatives.
What EMIR requires
EMIR requires derivatives transactions — such as swaps, futures and options — to be reported to trade repositories. To identify each party to the transaction unambiguously in those reports, an LEI is required.
Who it applies to
If your company enters derivatives contracts — for hedging or investment — both you and your counterparty need a valid LEI. Without it, the reporting obligation cannot be met.
Supervision in Belgium
In Belgium, compliance with EMIR reporting obligations is supervised by the FSMA (the Financial Services and Markets Authority).
See also LEI under MiFID II and LEI under SFTR.