Glossary of Terms
get-lei.com Team
A-Z guide to LEI and financial market terminology.
The Legal Entity Identifier system involves complex financial and regulatory concepts. Use this glossary to quickly define key terms, acronyms, and institutional bodies within the global LEI ecosystem.
A
- AIF
- AIF (Alternative Investment Fund) — an investment fund that is not a UCITS fund.
- AIFMD
- AIFMD — an EU directive regulating managers of alternative investment funds.
C
- CCP
- CCP (central counterparty) — a clearinghouse that interposes between buyer and seller, reducing counterparty default risk.
- CFTC
- CFTC — the U.S. regulator overseeing derivatives markets (including swaps) and related reporting requirements.
- counterparty
- The other party to a transaction (e.g., a bank, fund, or company) that enters into the financial agreement with you.
D
- derivatives
- Financial contracts (e.g., forwards, futures, swaps, options) whose value is derived from an underlying asset, rate, index, or other reference.
- Dodd-Frank Act
- Dodd-Frank Act — a U.S. post-2008 financial reform law, including derivatives market reporting and oversight requirements.
E
- EMIR
- EMIR — an EU regulation focused on derivatives (especially OTC), including mandatory reporting to trade repositories.
- ETD
- ETD (exchange-traded derivative) — a derivative traded on an exchange (as opposed to OTC).
G
- GLEIF
- GLEIF — the organization that coordinates the global LEI system and maintains data quality in the Global LEI Index.
- GLEIS
- GLEIS (Global LEI System) — the global framework of rules and institutions that supports issuing and publishing LEIs.
J
- jurisdiction
- The country or legal area whose laws and regulations apply to an entity or activity.
L
- LOU
- LOU (Local Operating Unit) — an accredited organization that issues/renews LEIs and validates entity data.
M
- MiFID II
- MiFID II — an EU directive regulating financial markets, including transaction reporting and entity identification requirements (e.g., LEI usage).
- MiFIR
- MiFIR — an EU regulation accompanying MiFID II, directly applicable and covering, among other things, transaction reporting rules.
O
- OTC
- OTC (over-the-counter) — transactions negotiated off-exchange, directly between parties or via a broker.
R
- Registration Agent
- A service provider that helps entities register or renew an LEI (typically in cooperation with an LOU).
- ROC
- ROC (Regulatory Oversight Committee) — an international group of public authorities providing oversight of the LEI system.
S
- SFTR
- SFTR — an EU regulation on reporting securities financing transactions (e.g., repos, securities lending).
- SPV
- SPV (special purpose vehicle) — a legal entity created for a specific project or financial structure.
T
- trade repository
- A regulated entity that receives and maintains records of reported transactions (e.g., under EMIR/SFTR).
U
- UCITS
- UCITS — an EU regulatory framework for retail investment funds.
Need more detail?
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