International Securities Identification Number (ISIN)
European Union Electricity Market Glossary

 


 

 

 

The International Securities Indentification Number (ISIN) is the recognised global standard for unique identification of financial instruments.

 

The European Union's MiFID II/MiFIR legal framework mandates as from 3 January 2018 the use of ISINs to identify OTC derivatives:

 

- tradable on a European trading venues (ToTV), and

 

- those with underlying asset tradable on a European trading venue (uToTV).

 

The reporting obligations for these instruments affect, in particular:

 

- trading venues, and

 

- systematic internalisers (SIs).

 

 

 

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Questions and Answers on MiFID II and MiFIR transparency topics, 5 April 2017, ESMA70-872942901-35 

 

  

 

numbering blue  Question 5 [Last update: 03/04/2017]


Does an ISIN need to be included for pre-trade quote publication?

 

Answer 5

 

Pre-trade transparency information should allow identifying unequivocally the financial instrument to which the information published refers. ISINs are one of the available ways to ensure the unequivocal identification of a financial instrument. However, ESMA recognises that ISINs may not always be available when providing a quote. Trading venues and systematic internalisers are free to use other ways for identifying instruments for pre-trade transparency purposes as long as the financial instrument can be unequivocally identified.

 

 

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  Questions and Answers on MiFIR data reporting, 7 July 2017, ESMA70-1861941480-56

 

 

 

 

numbering blue  Question 1 [Last update: 02/02/2017]


What ISINs, CFI codes and FISNs can be used to identify financial instruments?

 

Answer 1

 

For the purpose of reporting reference data under the requirements of MiFIR Article 27, ISO 6166 ISINs, ISO 10962 CFI codes and ISO 18774 FISNs issued by the relevant National Numbering Agency (NNA) should be used. For further information please refer to the following link: http://www.anna-web.org/standards/about-identification-standards/.

 

 

numbering blue   Question 2 [Last update: 02/02/2017]


By when do ISINs have to be obtained for financial instruments submission of reference data for which is triggered by an order, quote or trade taking place?

 

Answer 2

 

For financial instruments for which submission of reference data is triggered by an order, quote or trade taking place, the ISINs have to be allocated in time to be included in the submission of reference data required under Article 2 of RTS 2316.

 

 

numbering blue   Question 3 [Last update: 02/02/2017]


How should Field 26 (Underlying instrument code) be populated in the case of a futures contract on sovereign bonds?

 

Answer 3

 

In case of a futures contract on sovereign bonds, field 26 (Underlying instrument code) should be populated with the ISIN of the cheapest-to-deliver bond. If this is unknown, this field should be populated with the ISIN of any of the bonds issued by the issuer. This concept also applies to transaction reports under Article 26 MIFIR for OTC derivatives where the underlying deliverable bond can be chosen from several bonds issued by the same issuer.

 

 

 

 

 

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The International Securities Indentification Number (ISO 6166) is the recognized global standard for unique identification of financial instruments.


The ISIN code consists of a total of 12 characters as follows:


The first two characters are taken up by the alpha-2 country code as issued in accordance with the international standard ISO 3166 of the country where the issuer of securities, other than debt securities, is legally registered or in which it has legal domicile. For debt securities, the relevant country is the one of the ISIN-allocating NNA. In the case of depository receipts, such as ADRs, the country code is that of the organisation that issued the receipt,rather than instead of the one that issued the underlying security.


The next nine characters are taken up by the local numbeing code of the security concerned. Where the national number consists of fewer than nine characters, zeros are inserted in front of the number so that the full nine spaces are used.


The final character is a check digit computed according to the modulus 10 “Double-Add-Double” formula.


For ISINs of OTC derivatives, which will be allocated by a single global numbering agency, the initial two digits will use a custom “EZ” code. The ISIN will be generated on a de novo basis, with no reference to previous or other codes.


Who issues the ISIN


In the case of securities, other than debt securities, in locales where a NNA recognised by ANNA operates, this organisation issues the ISIN for securities whose issuer is registered or domiciled in the country where the NNA operates. For debt securities the NNA who issues the ISIN is either one of the international securities clearing organisations or the responsible NNA in accordance with ISO 6166.

 

 http://www.anna-web.org/standards/isin-iso-6166/


 



 

 

 

 

 

 

IMG 0744

    Documentation    



 

 

 

Questions and Answers on MiFIR data reporting, 7 July 2017, ESMA70-1861941480-56

 

ESMA's Opinion OTC derivatives traded on a trading venue (TOTV), 22 May 2017, ESMA70-156-117 

 

Derivatives Service Bureau, Consultation Paper – Phase 2, 19th April 2017

 

DSB, Fee Model Consultation Paper, FINAL REPORT, 28 February 2017

 

ANNA-DSB, Fee Model Consultation Paper, 9 January 2017

 

 

 

 

 

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    Links    

 

 

 

 

 

ISIN website

 

Association of National Numbering Agencies (ANNA)

 

 

 

 

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Last Updated on Tuesday, 11 July 2017 00:28
 

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