The Legal Entity Identifier system assigns a unique code to every legally distinct entity which participates in financial transactions. Every business in the world could have an LEI to identify itself and its subsidiaries. Until now, there has been no standard global system, but the LEI has been mandated by the U.S. Commodity Futures Trading Commission, the European Securities and Markets Authority, and the European Banking Authority, and is being considered for use by other financial regulators around the world.

You can learn more about the LEI system from the U.S. Treasury FAQ here.