Data from the latest Global LEI System Business Reports shows LEI adoption from May to July 2021
The Global LEI Foundation (GLEIF) is proud of its ongoing transparency initiatives. Of particular note is its open approach to providing unrestricted access to the latest LEI data from around the world with the LEI system’s quarterly annual reports, which are made available to the public free of charge. With this blog series “LEI in Numbers”, GLEIF aims to highlight key data from the latest report, explain trends and showcase the success of LEI adoption worldwide.
In the first quarter of 2021, 68,000 new LEIs were issued, but by the end of the second quarter, there were only 58,000 new LEIs. This decrease in new LEIs is mainly due to the summer months when business was slower. However, the overall picture is very encouraging, as the second quarter of 2021 saw a 3.3% increase in the total number of LEIs issued, meaning that the total number of active LEIs now stands at an impressive 1.82 million.
For a further summary of last quarter’s data, see the infographic below showing the key statistics for the second quarter of 2021.
For the first time, Turkey is the largest growth market in Q2 with an impressive growth rate of 22.9%. This is one of the highest growth rates recorded this year. This is mainly due to the regional deadline for mapping LEIs to legacy international securities identification numbers, in line with the joint initiative of the Association of National Numbering Agencies and GLEIF. In addition, Iceland has doubled its quarterly growth rate compared to the previous quarter (19% in the second quarter, compared to 9.2% in the first quarter).
Renewal rates, while remaining high overall, declined in nominal terms last quarter in both the EU and non-EU countries (64.3% vs. 66%). In line with fluctuations in issuance and growth, it is normal for renewal rates to fluctuate from quarter to quarter. GLEIF advocates for making the renewal of LEI mandatory when the issuance of LEI is mandatory. Preventing credential expiration by proactively renewing LEIs annually ensures that the Global LEI Index continues to provide the most accurate and up-to-date data possible. This benefits the entire ecosystem and all users of LEI who rely on the accuracy of the data to make informed business decisions.