LEI initiative in Zagreb

Zagrebacka Banka d.d.
Wed, 15/04/2015

The Zagreb Stock Exchange is about to start allocating and administering LEI tags. This will allow for clear identification of legal entities that participate in the financial market and thus reduce risk.

With the allocation and administration service of the LEI (Legal Entity Identifier) identification mark, ZSE will expand its range of services to shareholders and increase the safety and efficiency of financial activities that take place on local and global levels.

Currently, there is no organisation or institution that provides this kind of service to market participants, which is important for global financial stability, in Croatia and the nearby region.

The goal of the LEI system is to reduce systemic risk in the financial markets through better supervision of market participants and a greater availability of data, to reduce the costs associated with the collection and processing of data, to enable easier and more complete reporting of regulatory authorities and to strengthen the discipline of the market participants.

Jelena Bilusic
Relationship Manager, Global Securities Services Croatia