ANNA announces revised ISIN standard implementation date for Feb 2023

The Association of National Numbering Agencies (ANNA) announced the timeline for National Numbering Agencies’ (NNAs) implementation of the revised ISO 6166 International Securities Identification Number (ISIN) standard, bringing further clarity and transparency in the identification and reporting of trades through the use of international standards.

The revised ISO 6166 standard was published in February 2021, following the systematic review by the International Organization for Standardization (ISO). Highlights of the ISIN standard revision include:

  • an increased data set with the formal inclusion of Legal Entity Identifier (LEI), Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN) as part of the minimum data record
  • explicit language to confirm the standard covers both financial and referential instruments
  • assignment rules for OTC derivatives as already implemented by the Derivatives Service Bureau
  • clarification that ISIN is assigned on a technology agnostic basis, including assignment for tokenized financial and referential instruments
  • emission allowances, carbon credits and baskets confirmed as instruments within the scope of ISIN assignment
  • recognition that ANNA is responsible for determination of additional ISIN prefixes to ensure full coverage, e.g. for substitute numbering agencies

Following the revised and published ISIN standard and together with the ANNA Service Bureau (ASB) Operators, a timeline has been agreed for introducing the necessary changes to the ASB  as well as an appropriate timeline for NNAs to enhance their internal systems to contribute the additional data to the ASB. The implementation date has been confirmed as 2 February 2023. Upon implementation, the changes will be available to users of the freely available ISIN Lookup Service and subscribers of ASB services.

Emma Kalliomaki, ANNA’s managing director, said in a statement: “ANNA has been working continuously with stakeholders to help address regulatory obligations as well as to address standardisation challenges. As the market evolves, so too has the ISIN standard under ISO’s governance. Since the publication of the latest version of ISO 6166, there has been much discussion and collaboration on how best to set the implementation timelines, which are now agreed as February 2023. 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.”

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