APIR Systems (APIR) is now offering multi-year registrations and renewals in response to the increased demand in Legal Entity Identifiers (LEI).
The enhanced functionality provides the ability for entities to be registered and renewed for three or five consecutive years reflecting the broader growth of LEI activity in the Australian market.
APIR is a provider of essential infrastructure for the wealth management industry in Australia, including acting as an official registration agent for the issuance of LEIs.
APIR’s pricing for the multi-year renewals provides clients with a saving of 9% for the three year and 17 % for the five year from the annual charge of $121.
APIR Systems chief executive, Chris Donohoe, said he expects a reasonable proportion of APIR’s 3000 LEI clients to renew on the multi-year arrangements, with the new offering also providing impetus for prospective clients seeking to streamline the level of administration associated with the renewal process.
“Instead of annual engagement, it will now only be every few years, which will significantly improve the client experience through reduced administration. It’s not only a cost saving, but we’ve also simplified the user experience when clients are applying and renewing an LEI, which is a requirement in the trading of certain financial instruments,” Mr Donohoe said.
APIR has consistently recorded strong growth in LEI registrations over recent years, with 2019/20 seeing a doubling of LEI registrations. Despite the uncertainty created by COVID-19, recent LEI registrations have been extremely strong, which is consistent with the increase in trading activity on the ASX.
For more information, please contact:
02 6181 0590/ 0410 425 634
APIR Systems Limited (APIR) is an independent, privately owned utility that provides a critical component of the wealth management industry's infrastructure.
Since 1993, APIR has been identifying, coding and managing reference data for unlisted financial products. During that time, we have identified over 30,000 unlisted financial products of which nearly 15,000 are actively trading in today's market.
The "APIR Code" is universal across the Australian wealth management industry, being used by all the distribution platforms, custodians and fund administrators. Our supporting data services are used by leading research houses, data houses, major software developers and financial planning desktops.
In Australia, APIR is also the issuer of ISIN (International Securities Identification Numbers)
for unlisted managed investment schemes and superannuation funds, and an authorised Registration Agent for the issuing of Legal Entity Identifiers (LEI).