Chapter 31 - ISIN and Related Securities Identifiers

Abstract

This chapter focuses on the International Securities Identification Number (ISIN) and other related securities identifiers. The ISIN code is a 12-character alphanumerical string, which are issued for bonds, commercial paper, equities, and warrants and uniquely identifies a security according to ISO 6166. An ISIN consists of three parts where the first part is usually a two-letter country code, the second part is a nine-character alphanumeric national security identifier, and the third part is a single check digit. The country code is the ISO 3166-1 alpha-2 code for the country of issue. The nine-digit security identifier is the National Securities Identifying Number (NSIN), assigned by governing bodies in each country, known as the National Numbering Agency (NNA). In North America, the NNA is the Committee on Uniform Security Identification Procedures (CUSIP) organization. The CUSIP codes can easily be converted into ISINs by adding the US or CA country code to the beginning of the existing CUSIP code and a check digit at the end. The CUSIP code is a nine-character alphanumeric string and it belongs to American Bankers Association, it is operated by Standard & Poor's, and serves the United States and Canada. In the United Kingdom and Ireland, the NNA is the London Stock Exchange and the NSIN is the Stock Exchange Daily Official List (SEDOL). The SEDOL code has a length of seven characters, which include a six-character alphanumeric code and check digit. ISO 10962 is the CFI (Classification of Financial Instruments) code, which consists of six letters, where the first letter is the category, the second is the group, and the remaining letters show special attributes of the group.