Alacra Reference Data Alert – Inside the LEI – Issue VII
Alan Samuels
The LOUs continue to issue around 20,000 LEIs a quarter, taking the total number of LEIs assigned to around 385,000. This growth continues to be driven by a small number of LOUs with over 80% of the LEIs have been issued by only 4 LOUs – GMEI (US), WM Datenservice (Germany), London Stock Exchange (UK) and UICCIAA (Italy). We are seeing the rise of the “super-LOU” where three of the major LOUs are each assigning LEIs across over 100 countries. These “super-LOUs” are actively marketing their services and, in some cases, competing with each other.
At the same time, almost 85,000 of the LEI registrations have not been renewed— meaning that almost 22% of the total LEI universe have lapsed. When you remove the universe of LEIs that are less than a year old (and thus have not reached their first renewal date) the lapse rate is closer to 28%. On a positive note, however, the lapse rate appears to be trending lower from its previous highs. The lapse rate for entities issued LEIs in 2014 (prior to September) is only 23%, while the lapse rate for entities issued LEIs in 2013 is 36% and for entities issued LEIs in 2012 is 27%. It is also interesting to note that among the listed, rated and regulated universe of entities with LEIs, the lapse rated is lower, coming in at under 23% (rather than 28%).
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