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EMIR and LEI Information

The EMIR and LEI Information page in Account Management lets account holders who are subject to the EMIR regulation change their EMIR election.

About EMIR and LEI

European Markets and Infrastructure Regulations (EMIR) is a European Union regulation designed to make the derivatives markets more transparent by requiring counterparties to derivatives transactions to report trades, positions, collateral and valuations to the European Securities and Markets Authority (ESMA), the European regulatory body. All counterparties with reporting obligations under EMIR must have a Legal Entity Identifier (LEI) in order to report.

All of our clients who are subject to the EMIR regulation will see or will have already seen the EMIR Election Form upon logging into Account Management. After you have completed the EMIR Election process, you will be granted access to the full Account Management, AND will be able to access the EMIR and LEI Information page to change your EMIR election, depending on your original EMIR election. Note that you will only see the EMIR Election Form once upon logging into Account Management; once you make your election, you will not see the form again upon subsequent Account Management logins.

Who is Subject to the EMIR Regulation?

All of our entities’ clients established in the European Union operating non-individual accounts are required to comply with EMIR. In this context, non-individual means any account which is owned by one or two individuals as stated in the account title. Individual accounts in the name of a single person are not subject to EMIR and so will not have access to this page.

The following account structures established in the European Union ARE subject to EMIR:

• Fully Disclosed, Non-Disclosed and Omnibus Broker master accounts
• Non-Individual Fully Disclosed and Omnibus Broker sub accounts
• Single and Multiple Hedge Fund accounts
• Financial Advisor non-individual client accounts
• Proprietary Trading Groups (all types on standalone non-individual accounts)

Original EMIR Elections

If you are subject to the EMIR regulations and have not already made your EMIR election, when you log into Account Management, you will be prompted to do so.

If you have an IBUK account; or an IBUK sub, client or linked account, you can elect to:

• Instruct us to apply for an LEI on your behalf. You will be prompted to fill out a simple form and sign an agreement.
• Provide your LEI , which you have already obtained. You will be prompted to enter your LEI.
• Do nothing (you do not have an LEI and you are not subject to the EMIR regulation).

If you do not have an IBUK account; or an IBUK sub, client or linked account, but are still subject to the EMIR regulation, you can elect to:

• Instruct us to apply for an LEI on your behalf and delegate your EMIR reporting to us. You will be prompted to fill out a simple form and sign an agreement.
• Provide your LEI , which you have already obtained. You will be prompted to enter your LEI.
• Do nothing (you do not have an LEI and you are not subject to the EMIR regulation).

The EMIR and LEI Information Page in Account Management

This page allows account holders who have already made an EMIR election to change their election.

• If you have an IBUK account; or an IBUK sub, client or linked account and previously asked us to provide an LEI, you will simply see your LEI displayed on the page. There is nothing more to do.
• If you do not have an IBUK account; or an IBUK sub, client or linked account and previously asked us to provide an LEI and do your EMIR reporting for you, you will see your LEI displayed on the page and be able to change your delegated reporting choice and/or change your Counterparty Type.
• If you are subject to the EMIR regulation and previously chose to do nothing, you will see the original election form in its entirety and you can change your EMIR election.