Pre-LEI Waiting Times Range From 24 Hours to Three Weeks as EMIR Looms
Pre-local operating units (pre-LOUs) are preparing for an increase in pre-legal entity identifier (pre-LEI) registrations in the final weeks before the identifiers are required for trade reporting as part of the European Market Infrastructure Regulation (EMIR). However, the waiting time for pre-LEI codes ranges from 24 hours to several weeks, depending on the pre-LOU chosen, the number of entities submitted in a single request and other factors.
Market participants have expressed concern that
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