What is a Legal Entity Identifier (LEI) and why do I need one?
An LEI is a 20-character, alpha-numeric code, which uniquely identifies legally distinct entities that engage in financial transactions.
In order to comply with the regulatory obligations, FXCM is required to obtain an LEI from all legal entities (e.g. Companies, Partnership, Trusts and Corporate Trusts) who trade with us.
This is in conjunction with regulatory obligations which mandate FXCM to report over the counter (OTC) transactions and positions which FXCM is a counterparty to, to a trade repository.