ESMA issued a statement today announcing that the LEI grace period will not be further extended and will cease in July as originally planned.
Commenting on the ESMA statement, Larry Thompson, DTCC Vice Chairman, said: “ESMA’s announcement that no additional forbearance will be afforded to market participants means they need to make it a priority to apply for their LEIs ahead of the July 2 expiry date. Furthermore, if firms outside Europe which transact in European markets do not put the necessary measures in place to comply with the MiFID II LEI requirement by this time, they simply will not be able to trade with European counterparties.”
