XBRL Advance brings the lowest LEI registration fee to Australia


XBRL Advance has partnered with LEI Register to bring the lowest LEI registration cost to Australian legal entities that need a LEI to participate in international financial transactions.

Legal Entity Identifiers (LEI) increase trust and transparency in any business transaction by enabling business partners to know exactly who they do business with.  A LEI is a global unique ID based on ISO17442 and managed by the Global Legal Entity Identifier Foundation (GLEIF).  Having a unique global number to identify any business player in inter-organisational transactions brings huge savings to KYC, AML, Supply Chain, Blockchain and other types of projects where Identity Verification and Identity Management are critical components.

More than 1.7 million LEI numbers have been issued to legal entities worldwide, and the number is growing as more regulators mandate the use of LEI for financial transactions participants.

In Australia, ASIC has mandated the LEI for all companies involved in OTC derivative transactions.

How to get a LEI?

Australian legal entities can apply for a LEI number at: https://lensell.online/lei-registration

Special offer to Startup Victoria members: 10% off the already low LEI registration fee. Contact Laura at info@xbrl-advance.com to get the discounted fee.

 

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XBRL Advance provides software, consulting and training services that push the corporate performance democratisation agenda. LENSELL is the AI-powered platform run by XBRL Advance that improves the transparency and accessibility of Australian financial and non-financial corporate results to stakeholders around the world.

LEI Register is an authorised LEI Registration Agent (LEI code: 894500SMOMUFH0UZXT46) whose goal is to help companies apply for, and renew their LEI numbers worldwide. Their goal is to validate user data in accordance with “Legal Entity Identifier” standards and help to make the LEI system easily understandable. Just remember, “no LEI, no TRADE”.