Every quarter the GLEIF (Global LEI Foundation) publishes an LEI business report highlighting the trends in the Legal Entity Identifier industry.
LEI Issuers are classified in different ways. Companies like Bloomberg, DTCC, and RapidLEI are global LEI Issuers, meaning that we issue LEIs to organizations, trusts, and funds all over the world. Some countries have local LEI Issuers, usually public sector organizations, that focus purely on issuing LEIs within a single jurisdiction, examples being InSee in France and CFSTC in China.
For the last two quarters, RapidLEI has led the global LEI Issuers in growth. That trend continues in Q3 with RapidLEI showing a 30% growth over the previous quarter, compared to Bloomberg’s 6%. Like the second quarter this year, RapidLEI issued one in ten new LEIs. And if you combine RapidLEI, DTCC, and Bloomberg, between us, we issued nearly 45% of all new LEIs globally.
Outside of the US, RapidLEI is the largest issuer of new LEIs for a second consecutive quarter.
RapidLEI also maintained its leading position as the LEI Issuer with the highest volume of transfers in. This means organizations with existing LEIs are actively importing their LEIs to RapidLEI where they can enjoy the benefits of our global partner network, our automated workflows, and the feature-rich platform.
Our partner-first approach continues to underpin our global growth. Our Find Local Partner directory has been enhanced and now features the specialist regional value each local partner offers to LEI buyers, and we now uniquely have the GLEIF add all Registration Agent (RA) Partners to the GLEIF’s public RA directory. We create as much exposure for our partners within their local markets as possible.
As well as numerous platform enhancements during the quarter, we recently announced that our EnterpriseLEI solution is now available through our partners. The EnterpriseLEI platform offers organizations automated workflows, renewals, LEI discovery, volume discounts, and overall simplified LEI management. We look forward to working with our global channel on making this leading solution more widely available to local markets, especially within the banking sector where LEI management remains a costly and risky exercise.
Stay tuned to RapidLEI. There will be some industry-changing announcements made before the year ends.
To learn more about LEIs and the RapidLEI partner program, go to https://rapidlei.com
- RapidLEI launches EnterpriseLEI solution to Partner network
- RapidLEI now largest new LEI Issuer outside of US
- 1 in 10 organisations now choosing the fastest growing “5 Star” RapidLEI service for Legal Entity Identifiers
- RapidLEI grew 135% in quarter one, and it’s not slowing down