Saxo Bank announced the introduction of a new LEI (Legal Entity Identifier) expiration dashboard designed to give partners greater transparency and control over their clients' LEI statuses. Responding to partner feedback, Saxo has integrated the tool into its SaxoPartnerConnect (SPC) platform to streamline the LEI expiration management process.

The LEI Expiration Dashboard integrates data from the Global Legal Entity Identifier Foundation (GLEIF) with Saxo's internal systems, offering a comprehensive overview of upcoming LEI expiration dates. This new feature is now available to all partners directly from the SPC home page, as well as through the client screener filter, making it easier to track and manage LEIs.

The new dashboard is designed to ensure that clients' trading activities are not disrupted by expired LEIs, which are required for trading derivatives contracts in the European Economic Area (EEA). By providing this transparency, Saxo helps its partners to take proactive measures to keep LEIs up to date and avoid disruption to trading and regulatory reporting.

Saxo Bank plans to expand the dashboard functionality to include LEI codes for the partners themselves. In addition, a new “smart LEI restriction” feature will be introduced, which will allow Saxo to restrict trading for clients with expired LEI codes in products that require them without affecting clients trading instruments that do not need an active LEI, such as ETFs.

With the introduction of this tool, Saxo Bank continues to demonstrate its commitment to increasing transparency between partners and clients and ensuring a seamless trading experience for all parties involved.