The Association of National Numbering Agencies (ANNA), which is responsible for assigning ISIN, FISN and CFI codes, has set up a Benchmarks Task Force to develop the process of obtaining ISINs for referential instruments, in particular, indices and reference rates.
The purpose of the task force is to enable collaboration between ANNA and global benchmark administrators to better understand their requirements, provide clarity where needed, explore any challenges in relation to ISIN allocation practices and mutually determine the best way forward to help the market. Output from the task force will feed into the ISO systematic review of the ISIN standard to help shape how the standard should reflect the ISIN allocation requirements for referential instruments.
Following enforcement of the EU Benchmark Regulation on January 1, 2018, which requires benchmark administrators to provide an ISIN where available to identify their indices, there has been increased industry interest in the use of ISINs for identification of referential instruments. As the registration authority for the ISO 6166 ISIN standard, ANNA has a responsibility to ensure that both allocation and accessibility of ISINs meet the needs of the market.
Emma Kalliomaki, managing director at ANNA, says: “ANNA is constantly looking at ways to work with the industry in a collaborative manner to help address market needs. By working directly with benchmark administrators, we will be able to hear first-hand the challenges they face and help address some of the practical applications of the ISIN standard, as well as deliver the feedback received directly into the ISO 6166 revision process. We have had great interest in the task force already, and would welcome further participation from other benchmark administrators.”
Benchmark administrators interested in participating in the task force can join by emailing email@example.com.