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ANNA Plans Implementation of Revised ISO 6166 ISIN Standard in February 2023

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The Association of National Numbering Agencies (ANNA) will implement the revised ISO 6166 International Securities Identification Number (ISIN) standard on 2 February 2023. The revised standard was published in February 2021 and is designed to bring additional clarity and transparency to the identification and reporting of trades through the use of international standards.

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 tokenised financial and referential instruments, emission allowances, carbon credits and baskets confirmed as instruments within the scope of ISIN assignment.

Emma Kalliomaki, managing director at ANNA, says: “Since 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 for February 2023. The ISIN revisions improve clarity of terms, and scope and coverage of the standard, which further enhances usability, increases transparency and aids risk and exposure management, thereby benefiting the market.”

The timeline for deployment of the revised ISIN standard takes in necessary changes to the ANNA Service Bureau (ASB), and changes National Numbering Associations (NNAs) must make to their internal systems to contribute the required additional data to the ASB. Upon implementation on 2 February 2023, the changes will be available to users of the freely available ISIN Lookup Service and to subscribers to ASB services.

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