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LEI service amendment

Strate is authorised as South Africa’s Local Operating Unit (LOU) and mandated by the Global Legal Entity Identifier Foundation (GLEIF) to issue and record Legal Entity Identifiers (LEIs) for the South African market. LEIs identify entities engaged in financial transactions, with the aim of increasing transparency and mitigating risk.

The Financial Sector Conduct Authority (FSCA) is strongly encouraging regulated entities in South Africa to implement LEIs – and in some cases will make having an LEI mandatory. According to the FSCA communication of 20 March 2024, an LEI is mandatory, or going to become mandatory, for the following categories of transactions in South Africa:

  • OTC derivatives providers to use LEIs to report transactions to a trade repository
  • The JSE requires an LEI from every issuer for every International Securities Identification Number (ISIN) issued, as part of the global ISIN-LEI mapping initiative
  • The reporting and disclosure of short sales
  • The South African Reserve Bank may require commercial banks to include the LEIs of counterparties in qualifying money market transactions reported daily
  • Counterparties to securities finance transactions

Strate fully supports the FSCA’s intent to mandate the use of LEIs within the capital markets.

To demonstrate Strate’s commitment to maintaining a trusted investment environment for all stakeholders, including the traceability of assets globally, we hereby advise you of a more attractive LEI pricing methodology.

Strate has applied the following fee adjustments, which came into effect on 25 June 2024:

  • Fee to create a new LEI: R660 (reduced from R2,200)
  • Fee to renew existing LEI: R440 (reduced from R1,225)

These fees include the fee payable to the GLEIF and are quoted exclusive of VAT.

To apply for new LEIs or to renew existing LEIs please visit https://www.lei-strate.co.za/.

For more information or to contact us for applications or renewals please email strate-leihelpdesk@strate.co.za

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If you do not agree with Strate’s processing activities as described in the Website Privacy Notice, please do not use the website. For further information regarding our processing activities please contact dataprivacy@strate.co.za