The Association of National Numbering Agencies (ANNA) announced the completion of the technical implementation of the revised ISO 6166 International Securities Identification Number (ISIN) standard, bringing further clarity and transparency in the identification and reporting of financial instruments through the use of international standards.
The revised ISO 6166 standard was published in February 2021, following the systematic review by ISO. The revisions included an extension of the ISO record to a wider data set, from 43 to 49 fields. ANNA agreed the implementation timeline based on the changes needed to the ANNA Service Bureau (ASB) as well as an appropriate timeframe for NNAs to enhance their internal systems to contribute the additional data to the ASB. Following implementation of the technical changes, NNAs must now formally report Legal Entity Identifiers, LEIs, the Classification of Instruments, CFIs, and the Financial Instrument Short Names, FISN, to the ASB, increasing data coverage and data quality.
In addition, the revised ISO 6166 standard includes assignment rules for tokenized financial and referential instruments as well as for OTC derivatives, as already implemented by the Derivatives Service Bureau. Emission allowances, carbon credits and baskets are also confirmed as instruments within the scope of ISIN assignment. Following the revised and published ISIN standard and together with the ASB Operators, the changes bring further clarity and transparency to the market and are now available to users on the free ISIN Lookup Service and subscribers of ASB services.
Emma Kalliomaki, managing director of ANNA, said in a statement: “NNAs have worked hard to make the internal changes to their workflows. The ISIN revisions have improved clarity of terms, scope and coverage of the standard, which further enhances usability, increasing transparency and aiding risk and exposure management, thereby ultimately benefiting the market. The complementary nature of the standards has been confirmed, with the LEI, CFI, FISN and ISIN all working together to bring identification, description and classification in one suite of ISO standards.”