RapidLEI Legal Entity Identifier

RapidLEI Frquently Asked Questions

  • What is the format and structure of the CDF file(s) if I have a parent or parents?

    There are several different files involved with an LEI. Here’s how the GLEIF describe these files for applicants with parents.

  • What is the format and structure of the exception record(s) if I have no parents or only one parent?

    There are several different files involved with an LEI. Here’s how the GLEIF describe these files for applicants without parents.

    • Level 1 – LEI-CDF format: Defines how Level 1 data, i.e. the information on ‘who is who’, is reported.
    • Level 2 – Reporting Exceptions format: If the child legal entity reports an exception, a record in this format is generated for the parent entity. Each record refers to a child legal entity, indicates whether the exception applies to the direct or ultimate parent and provides the reporting exception. Reporting exceptions include: The LEI registrant has no parent entity; the child legal entity opts out of reporting for exceptional reasons; the direct and ultimate parents of the LEI registrant do not have an LEI.

  • Is the lei:Extension field used by RapidLEI?

    No. Currently RapidLEI does not use this field so no content will be added by us to your resulting Common Data Format File. If we import a record from another managing LOU we will remove any Data they may have published when we move the records to the historical reporting section of the XML data files.

  • What process should I follow to update my Legal Entity Reference Data?

    If an LEI is ACTIVE, you will need to LOGIN to your RapidLEI account and click on LEGAL ENTITY IDENTIFIERS at the top of the dashoard. This presents a list of LEIs which you can filter or search to identify the correct LEI to be updated. Click on the blue ‘Actions’ button and select ‘Amend LE-RD’. You’ll be able to amend the data and forward your changes to our vetting team to verify.

    If an LEI has LAPSED, you’ll need to renew the LEI and update the information as part of the renewal process.

    Please note that if you change the Legal Entity Name or Compnay Number, we’ll need to obtain a new set of Terms and Conditions from you.

  • What if the RapidLEI team identifies an error with my LE-RD

    If, after issunace of the LEI the underlying reference data changes through a corporate action or shange to the data within the business registry then we may initiate a change to your LEI. We’ll email you and allow you to view the changes very quickly. If you are in agreement with the changes the updated LE-RD will be sent to the GLEIF immediately following your approval. The good news is that there’s no paperwork to sign unless the Company Name or Company Number changes.

  • What is an 'Internal' LE-RD change?

    Common Data Format (CDF) data structures are created by the RapidLEI system and uploaded to the Global LEI System on a regular basis (Usually 10 times per day at regular 144 minute intervals). As we have a joint obligation to keep records accurate we may need to amend the XML data with a change which is not visible in the RapidLEI user interface. If we do change something that improves record data quality we’ll inform you by email. If it’s not something you woudl ahve seen from the user interface we’ll class this as an Internal change.

  • What is the 'Challenge' Process?

    The Global LEI Foundation maintains a documented ‘Challenge’ process available to all stakeholders of the LEI system. The Open nature of the CDF data ensures that inacurancies can be reported at any time through the GLEIF’s process to RapidLEI as the Managing Local Operating Unit (LOU) responsible for Managing the record. If our vetting team determines the challenge to be correct and an amendment is necessary we’ll inform you that changes have been made and the LEI recrd will move the ‘Pending’ state in the RapidLEI portal. Please follow the instructions in the email and agree or disagree with the proposed corrections. Corrections may be necessary to the LE-RD or LE-RR or both.

  • What process should I follow to update my Relationship Record?

    If an LEI is ACTIVE, you will need to LOGIN to your RapidLEI account and click on LEGAL ENTITY IDENTIFIERS at the top of the dashoard. This presents a list of LEIs which you can filter or search to identify the correct LEI to be updated. Click on the blue ‘Actions’ button and select ‘Amend LE-RR’. You’ll be able to amend the data and forward your changes to our vetting team to verify.

    If an LEI has LAPSED, you’ll need to renew the LEI and update the information as part of the renewal process.

  • What is an 'Internal' LE-RR change?

    Common Data Format (CDF) data structures are created by the RapidLEI system and uploaded to the Global LEI System on a regular basis (Usually 10 times per day at regular 144 minute intervals). As we have a joint obligation to keep records accurate we may need to amend the XML data with a change which is not visible in the RapidLEI user interface. If we do change something that improves record data quality we’ll inform you by email. If it’s not something you woudl ahve seen from the user interface we’ll class this as an Internal change.