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ISO6166 - an outline of the standard
Securities -
International securities identification numbering system (ISIN)
Introduction
The standard provides a
uniform structure for a number, known as the lSIN, that uniquely
identifies securities. It details organisations, known as
National Numbering Agencies (NNA's) that are responsible for
issuing the ISIN in each country. In those countries where no NNA
is in operation, four NNA's have agreed, on a regional basis, to
act as a substitute agency.
ISIN
ISIN consists of a total of 12
characters as follows:
The first two characters are taken
up by the alpha-2 country code as issued in accordance with the
international standard ISO 3166 of the country where the issuer
of securities, other than debt securities, is legally registered
or in which it has legal domicile. For debt securities, the
relevant country is the one of the ISIN - allocating NNA. In the
case of depository receipts, such as ADRs, the country code is
that of the organisation who issued the receipt instead of the
one who issued the underlying security.
The next nine characters are taken
up by the local number of the security concerned. Where the
national number consists of fewer than nine characters, zeros are
inserted in front of the number so that the full nine spaces are
used.
The final character is a check
digit computed according to the modulus 10
"Double-Add-Double" formula.
- Who issues
the ISIN
- In the case of securities,
other than debt securities, where a NNA recognised by
ANNA operates, this organisation issues the ISIN for
securities whose issuer is registered or domiciled in the
country where the NNA operates. For debt securities the
NNA who issues the ISIN is either one of the
international securities clearing organisations or the
responsible NNA in accordance with ISO 6166.
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- In the case of those
countries where no NNA exists, a substitute agency
allocates the number.
- Click here for the substitute
agencies directory
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ISIN structure
- 1, 2,
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- Country code
- 2 character
alphabetical
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- 3, 4, 5, 6, 7, 8, 9,
10, 11,
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- National
Securities Identification Number
- 9 character
alpha-numerical
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- 12,
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- Check digit
- 1 character numerical
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