Multi-asset investment specialist Saxo Bank has informed its partners of a new LEI expiry dashboard.
Many of Saxo’s partners have requested greater transparency regarding LEI expiries for their end-client base. To address this need, Saxo has developed adashboard in SaxoPartnerConnect (SPC) that combines data sourced from GLEIF with data from Saxo’s internal system.
This dashboard is enabled for all users and should already be available from the starting page and as a filter in the client screener.
Saxo commented:
“We encourage our partners to monitor the dashboard and help ensure that relevant clients renew their LEIs on time. This will be mutually beneficial, as it should result in fewer breaks in Saxo’s reporting and ensure that clients’ trading can continue uninterrupted”.
In the second phase, Saxo will include LEI codes for the partners themselves. It will also be introducing a new smart LEI restriction, which will enable Saxoto restrict trading in products that require an LEI for clients whose LEIs have lapsed, without disrupting unrelated clients and trades. For example, a client who trades only ETFs and is therefore not required to have an active LEI will not be impacted by the restriction and will not need to update their LEI.
LEI is a unique 20-character alphanumeric code required to trade and report derivative contracts within the European Economic Area (EEA).
