ANNA announces implementation of revised ISO 6166
The Association of National Numbering Agencies announces timeline for implementation of revised ISO 6166 ISIN standard
Highlighting market benefits derived from the evolution of international standards
London, 23rd February 2022 – The Association of National Numbering Agencies (ANNA), a global association dedicated to the support of efficient capital markets through the use of widely embraced International Organisation for Standardisation (ISO) standards, today 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 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 tokenised 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 ASB Operators, a timeline has been agreed for introducing the necessary changes to the ANNA Service Bureau (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, MD of ANNA, said, “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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The Association of National Numbering Agencies (ANNA) is a global member association seeking to foster standardisation within the financial industry by upholding the International Organization for Standardization (ISO) principles and by promoting ISIN, FISN and CFI codes for financial instruments. This is achieved through ongoing, collaborative work with market participants, regulators and other standards bodies.
Under ANNA’s stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. Founded in 1992 by 22 numbering agencies, today ANNA’s membership continues to grow, with more than 120 global members and partners allocating ISIN, FISN and CFI codes on behalf of their local jurisdictions. By putting in place rigorous governance around the development, allocation and sharing of ISIN, FISN and CFI codes, ANNA helps facilitate open, transparent markets diminishing barriers to access, while protecting the integrity of the standards. As a result, ISIN has become the recognised global standard for unique identification for all types of financial and referential instruments, helping to connect and protect global markets.
In addition, ANNA has established the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the specific operational and regulatory requirements of the over-the-counter derivatives markets.
For information about ANNA, its members and activities, please visit anna-web.org.Save as PDF