August 2, 2023
The Global Legal Entity Identifier Foundation (GLEIF), the governing body for the LEI system, has chosen NordLEI to assume responsibility for parts of the customer base previously under the care of Global Market Entity Identifier (GMEI), a subsidiary of the Depository Trust & Clearing Corporation's (DTCC).
A comprehensive analysis of GMEI's operation was conducted as part of DTCC's broader business strategy review. The findings indicated that GMEI, run by DTCC's subsidiary, Business Entity Data (BED) B.V., was not consistent with the firm's strategic vision.
Consequently, BED B.V., also recognized as a Local Operating Unit (LOU) by GLEIF and known to clients as the "GMEI Utility", has decided to withdraw from the LEI code market.
More details can be found in the reference 'Shutdown-FAQ' available at the GMEI DTCC website https://gmei.dtcc.com.
As of July 27, 2023, at 5 PM EDT, the GMEI client portal has been officially shut down.
To assure a smooth transition for all affected clients, DTCC has collaborated with GLEIF to enact a reliable process for migrating Legal Entity Identifiers (LEIs) to new managing LOUs.
Moving forward, NordLEI will undertake all responsibilities for LEI customers based in Luxembourg, Sweden, Denmark, Norway, Finland, Faroe Islands, and Iceland. NordLEI will directly reach out to affected clients to ensure a smooth transition. The LEI codes corresponding to each entity will remain the same.
"NordLEI remains devoted to upholding the high standard of service our clients have grown accustomed to," asserted Anders Åström, CEO of NordLEI. "We recognize the significance of this transition, and we're committed to ensuring it is as smooth as possible for all clients involved."
For further information, kindly contact NordLEI customer service at support@nordlei.org or visit the NordLEI website at www.nordlei.org.
About NordLEI:
Accredited by the Global Legal Entity Identifier Foundation (GLEIF), NordLEI provides high-quality Legal Entity Identifier (LEI) services to businesses in Northern Europe. NordLEI is dedicated to streamlining the LEI process, making it straightforward for businesses to obtain, manage, and use their LEIs.
