Can I trade without an LEI ("No LEI, No Trade")?
Total LEI Team
Created: Jan 8, 2026Updated: Jan 8, 2026Est. reading time: 2 min
Under regimes like MiFID II, the answer is a strict no. The 'No LEI, No Trade' principle is enforced rigorously; investment firms are prohibited from executing transactions for clients who cannot provide a valid, active LEI.