The need for global reach with local knowledge in standardisation

14.06.2019

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.

ANNA is a truly global member association comprised of individual National Numbering Agencies (NNAs). NNAs are the central point for knowledge in their jurisdictions and are able to help their communities through their understanding of the local language, regulatory requirements and cultural differences. Through meeting the obligations of the international standards and engaging with the global community, these NNAs help elevate any local challenges or concerns to the international level. Without these standards, international interoperability is a challenge as it creates limitations in international investment opportunities. Achieving local knowledge through the NNAs, and by adopting international standards, ANNA’s federated model enables firms to have both an economic impact in their jurisdictions and the ability to trade on the global markets.

The NNA’s consist of stock exchanges, central security depositories, central banks, regulators and data vendors. There are currently 92 full members who have one vote each within ANNA, and 24 partners who have not yet transitioned into full members. To become a member, the NNA’s must comply with specific guiding principles and frameworks which include ISO obligations and must agree to fulfil all the obligations of being an ANNA member.

ANNA does not designate numbering agencies – it is up to the jurisdictions themselves to choose the numbering agency, which is then designated by their supervisory authority. By remaining impartial, ANNA ensures the numbering agencies are chosen by the industry, for the industry. Members and partners can also participate in their national ISO committees to contribute to the evolution of international standards in their local jurisdictions.

ANNA communicates throughout the year with members to gauge industry sentiment around new regulations, challenges and opportunities within the financial industry in order to evolve the ISIN standard in-line with industry needs.

ANNA also helps educate members on issues affecting their jurisdictions and the industry as a whole. This is done through regular working groups, surveys, task forces, workshops and biannual general meetings. This ensures ANNA and its members are able to make informed decisions with greater transparency and accountability that are in the best interest of the industry.

By putting in place rigorous governance around the development, allocation and sharing of the ISIN, FISN and CFI codes for global financial markets, ANNA continues to work hard to facilitate open, transparent markets with no barriers to access, while protecting the integrity of data quality of the standards within its remit. As a result, ISIN has become the recognised global standard for unique identification for all types of financial instruments, helping to connect and protect global markets.

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