The Legal Entity Identifier (LEI) is a unique 20-digit alpha-numeric code used in identifying every legal entity participating in securities and financial transactions in the market. LEI enables the unique identification of companies, at the global level, that are involved in international financial markets.
On the 15th May 2014, LEI ROC (Regulatory Oversight Committee), the regulatory governance body for the global LEI system endorsed 27 pre-LOUs that are operational including CSCS Plc. Local Operating Units (LOUs or pre-LOUs) are components of the LEI system endorsed to issue LEIs (Legal Entity Identifiers) to entities that require a code to comply with the regulatory mandates related to the identification of counterparties for reporting of derivatives transactions to Trade Repositories.
CSCS Plc endorsed as LOU entity; means that CSCS Plc has been approved globally as the Local Operating Unit (LOU) for Nigeria to assign LEI codes to legal participants in securities and financial transactions.