As from 2018, companies (legal entities, companies entered in the Register of Firms) can conduct securities transactions only if they have been assigned a Legal Entity Identifier (LEI) (Markets in Financial Instruments Regulation (EU) No 600/2014 (MiFIR)).
The Legal Entity Identifier is an internationally standardised unique code which applies worldwide to financial market participants (for securities and OTC derivative transactions). It is used to identify business partners (such as companies, banks, mutual funds,….) and for specific regulatory reporting. Every company is required to apply to a Local Operating Unit (LOU) for an LEI and to provide this to its bank.
Information on the procedure for applying for or extending the validity of an LEI is provided on the website of the Austrian Economic Chambers (available in German only): https://www.wko.at/service/unternehmensfuehrung-finanzierung-foerderungen/legal-entity-identifier-voraussetzung-wertpapiergeschaefte.html
Apply for your LEI now and provide it to UniCredit Bank Austria AG to enable you to conduct securities transactions without restriction as from 3 January 2018.
From 3 January 2018 (pursuant to Regulation (EU) No 600/2014 on markets in financial instruments [MIFIR]), natural persons and unregistered sole proprietorships/freelancers may only perform securities and OTC derivatives transactions if they notify the bank carrying out the transactions of their standardized NCI. Please note that this applies to both purchases and sales of securities.
The NCI is generated on the basis of various, pre-defined personal data that differ according to your citizenship. For customers who are citizens of Austria, Germany, France, Hungary, Ireland or Luxembourg, the NCI is generated as standard using an identifier created on the basis of the individual’s name, date of birth and a country code. Such customers are not required to take any further action.
The folder on the National Client Identifier (NCI) provides an easy-to-read summary of essential information.