One code for every counterparty
Broker, bank, depositary, trade repository — the same GLEIF row. You send 20 characters, not a stack of Estonian register extracts.
Why it exists
Why an Estonian company needs an LEI
The Estonian Business Register code identifies the company nationally. An LEI gives banks, brokers and regulators a standard identifier they can verify in GLEIF.
Without one, the file stops
When an LEI is required for a transaction or report, a missing code can prevent processing. The requirement comes from the bank, broker or applicable rules, not LEIFast.
Lapsed is not active
The characters still exist. Status Lapsed tells counterparties the Estonian company’s data was not confirmed this year. Renew in time.
It is not a credit rating
It only says which legal person you are, and whether that record is current.
So “which Estonian company is this?” has one public answer.
After the financial crisis, regulators could not always tell which legal entity sat behind a trade. The LEI is that answer, with a yearly check that the record is still true. 3- and 5-year plans are one payment, so you are not relying on an annual reminder.