of National Number Agency Association (ANNA) is a global association that supports efficient capital markets using widely accepted methodologies. International Organization for Standardization (ISO) Standards has completed implementation of the revised “ISO 6166” International Securities Identification Number (ISIN) standard. Through the use of international standards, the Association seeks to increase both clarity and transparency in the identification and reporting of financial instruments.
ISO is the world’s largest developer and publisher of international standards, a non-governmental organization dedicated to bridging the gap between the public and private sectors. ISO 6166 defines the structure of ISINs. An ISIN uniquely identifies an exchangeable security. Conceptually, it is similar to how barcodes work for product identification.
Following a systematic ISO review, the organization published a revised ISO standard in February 2021. The revision includes an extension of the ISO record, extending it to a wider data set from 43 to 49 fields.
ANNA has agreed on an implementation schedule based on the changes required for the ANNA Service Bureau (ASB) and an appropriate time frame for the NNA to enhance its internal systems and provide the ASB with additional data.
Following the implementation of the technical changes, NNAs are now required to formally report their Legal Entity Identifier (LEI), Commodity Classification (CFI) and Financial Instrument Short Name (FISN) to the ASB and the data scope and improved data quality.
The revised ISO 6166 standard also includes allocation rules for tokenized financial instruments, reference instruments and OTC derivatives. Derivatives Services Bureau.
Emission allowances, carbon credits and baskets have also been identified as instruments within the scope. Isin allocation. The revised ISIN standard, together with ASB operators, will bring transparency and transparency to the market. Now available to users of his free ISIN lookup service and subscribers of her ASB service.
Emma KariomakiANNA’s Managing Director commented on the news. Kalliomaki says:
“The revision of the ISIN will clarify the terminology, scope and scope of the standard, further improve usability, increase transparency, facilitate risk and exposure management, and ultimately benefit the market. .
“The complementary nature of the standards has been confirmed. LEI, CFI, FISN and ISIN have all worked together to bring identification, description and classification into a series of ISO standards.”