ISO/PRF 6166

Financial services -- International securities identification number (ISIN)

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INTERNATIONAL ISO
STANDARD 6166
Eighth edition
Financial services — International
securities identification number (ISIN)
PROOF/ÉPREUVE
Reference number
ISO 6166:2020(E)
ISO 2020
---------------------- Page: 1 ----------------------
ISO 6166:2020(E)
COPYRIGHT PROTECTED DOCUMENT
© ISO 2020

All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication may

be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying, or posting

on the internet or an intranet, without prior written permission. Permission can be requested from either ISO at the address

below or ISO’s member body in the country of the requester.
ISO copyright office
CP 401 • Ch. de Blandonnet 8
CH-1214 Vernier, Geneva
Phone: [phone]
Email: [e-mail]
Website: www.iso.org
Published in Switzerland
ii PROOF/ÉPREUVE © ISO 2020 – All rights reserved
---------------------- Page: 2 ----------------------
ISO 6166:2020(E)
Contents Page

Foreword ........................................................................................................................................................................................................................................iv

Introduction ..................................................................................................................................................................................................................................v

1 Scope ................................................................................................................................................................................................................................. 1

2 Normative references ...................................................................................................................................................................................... 1

3 Terms and definitions ..................................................................................................................................................................................... 1

4 Principles ..................................................................................................................................................................................................................... 2

4.1 Constituents............................................................................................................................................................................................... 2

4.2 Instruments for which the ISIN is allocated .................................................................................................................. 3

4.3 Assignment of related codes ....................................................................................................................................................... 3

5 R egistration Authority (RA) ...................................................................................................................................................................... 3

5.1 Name and contact details of the Registration Authority ..................................................................................... 3

5.2 Service provision ................................................................................................................................................................................... 3

6 ISIN allocation ......................................................................................................................................................................................................... 4

6.1 General ........................................................................................................................................................................................................... 4

6.2 Descriptive elements ......................................................................................................................................................................... 4

6.3 Existing ISINs and existing instruments without ISINs ....................................................................................... 4

Annex A (normative) Allocation of prefixes .................................................................................................................................................. 5

Annex B (normative) Minimum descriptive elements for each category or issue type ..................................7

Annex C (normative) Formula for computing the modulus 10 “double-add-double” check digit .....10

Annex D (normative) Information requirements for ISIN allocation ..............................................................................12

Annex E (informative) Examples............................................................................................................................................................................13

Bibliography .............................................................................................................................................................................................................................15

© ISO 2020 – All rights reserved PROOF/ÉPREUVE iii
---------------------- Page: 3 ----------------------
ISO 6166:2020(E)
Foreword

ISO (the International Organization for Standardization) is a worldwide federation of national standards

bodies (ISO member bodies). The work of preparing International Standards is normally carried out

through ISO technical committees. Each member body interested in a subject for which a technical

committee has been established has the right to be represented on that committee. International

organizations, governmental and non-governmental, in liaison with ISO, also take part in the work.

ISO collaborates closely with the International Electrotechnical Commission (IEC) on all matters of

electrotechnical standardization.

The procedures used to develop this document and those intended for its further maintenance are

described in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the

different types of ISO documents should be noted. This document was drafted in accordance with the

editorial rules of the ISO/IEC Directives, Part 2 (see www .iso .org/ directives).

Attention is drawn to the possibility that some of the elements of this document may be the subject of

patent rights. ISO shall not be held responsible for identifying any or all such patent rights. Details of

any patent rights identified during the development of the document will be in the Introduction and/or

on the ISO list of patent declarations received (see www .iso .org/ patents).

Any trade name used in this document is information given for the convenience of users and does not

constitute an endorsement.

For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and

expressions related to conformity assessment, as well as information about ISO's adherence to the

World Trade Organization (WTO) principles in the Technical Barriers to Trade (TBT), see www .iso .org/

iso/ foreword .html.

This document was prepared by Technical Committee ISO/TC 68, Financial services, Subcommittee SC 8,

Reference data for financial services.

This eighth edition cancels and replaces the seventh edition (ISO 6166:2013), which has been technically

revised.
The main changes to the previous edition are as follows:

— clarification that the scope covers financial instruments as well as referential instruments;

— addition of new instrument types to which the ISIN code can be allocated (derivative products with

EZ and ZZ prefix, baskets, emission allowances and carbon credits);
— addition of new minimum descriptive elements (Annex B).

Any feedback or questions on this document should be directed to the user’s national standards body. A

complete listing of these bodies can be found at www .iso .org/ members .html.
iv PROOF/ÉPREUVE © ISO 2020 – All rights reserved
---------------------- Page: 4 ----------------------
ISO 6166:2020(E)
Introduction

With the rapid expansion of international business in financial instruments, there was a need for a

universally applicable international securities identification number (ISIN).

No worldwide numbering system existed at the time of the publication of the first edition of this

document. Countries with a developed financial market identified issues of securities by means of

code numbers, which are without any significance outside the country concerned. Instruments of the

same issue were identified by means of different numbers in the country where they were physically

held, booked or both, with the result that the national numbers may not be applicable in cross-border

transactions.

Because of its strong rationalization effect, an internationally applicable numbering system

substantially facilitates and supports international business in financial instruments. Such a system

is provided by this document. Since the publication of the first edition of this document, its scope has

expanded from a focus on securities to a much broader range of financial instruments. In addition,

since the publication of the first edition, the Registration Authority (RA) has relied on the work of

national numbering agencies (NNAs) which play an integral role in this rationalization effort and in the

implementation of this document.

In preparing this document, care has been taken to conserve the national systems to the maximum

possible extent, not only because of the good routine and valuable experience collected in this field

but also to facilitate the adoption of the worldwide system. Moreover, it provides a system which is

easy to apply internationally and establishes an information network which ensures that the required

information can be obtained worldwide immediately.
© ISO 2020 – All rights reserved PROOF/ÉPREUVE v
---------------------- Page: 5 ----------------------
INTERNATIONAL STANDARD ISO 6166:2020(E)
Financial services — International securities identification
number (ISIN)
1 Scope

This document provides a uniform structure for the identification of financial instruments as well

as referential instruments (see Annex A) using a unique identification code and associated minimum

descriptive data (see Annex B).
2 Normative references

The following documents are referred to in the text in such a way that some or all of their content

constitutes requirements of this document. For dated references, only the edition cited applies. For

undated references, the latest edition of the referenced document (including any amendments) applies.

ISO 3166 (all parts), Codes for the representation of names of countries and their subdivisions

ISO 4217, Codes for the representation of currencies
ISO 8601 (all parts), Date and time format

ISO 10962, Securities and related financial instruments — Classification of financial instruments (CFI) code

ISO 17442 (all parts), Financial services — Legal entity identifier (LEI)

ISO 18774, Securities and related financial instruments — Financial Instrument Short Name (FISN)

3 Terms and definitions
For the purposes of this document, the following terms and definitions apply.

ISO and IEC maintain terminological databases for use in standardization at the following addresses:

— ISO Online browsing platform: available at https:// www .iso .org/ obp
— IEC Electropedia: available at http:// www .electropedia .org/
3.1
international securities identification number
ISIN

alphanumeric code which uniquely identifies a specific financial or referential instrument

3.2
ISIN record

record which uniquely identifies a specific financial or referential instrument and consists of the ISIN

and the minimum descriptive data elements
Note 1 to entry: For the minimum descriptive data elements, see Annex B.
3.3
ISIN guidelines

document developed and maintained by the Registration Authority to promote a uniform process for

allocation, registration and dissemination of the ISIN to the financial industry
© ISO 2020 – All rights reserved PROOF/ÉPREUVE 1
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ISO 6166:2020(E)
3.4
issuer

legal entity in which the instrument creates an interest

Note 1 to entry: In the case of shares or units in collective investment vehicles such as investment funds, mutual

funds or hedge funds, the fund is to be considered as the issuer, not the fund management company. However,

in the case of an insurance fund, an interest is created in the insurer, which therefore is the issuer. In the case

of debt and other instruments issued or created by an international branch of a legal entity, the branch is to be

considered as the issuer, not the parent entity.
Note 2 to entry: See Annex A.
3.5
issuer
borrower

Note 1 to entry: In the case of shares or units in collective investment vehicles such as investment funds, mutual

funds or hedge funds, the fund is to be considered as the issuer, not the fund management company. However,

in the case of an insurance fund, an interest is created in the insurer, which therefore is the issuer. In the case

of debt and other instruments issued or created by an international branch of a legal entity, the branch is to be

considered as the issuer, not the parent entity.
Note 2 to entry: See Annex A.
3.6
issuer
legal entity that creates or administers the instrument

Note 1 to entry: In the case of shares or units in collective investment vehicles such as investment funds, mutual

funds or hedge funds, the fund is to be considered as the issuer, not the fund management company. However,

in the case of an insurance fund, an interest is created in the insurer, which therefore is the issuer. In the case

of debt and other instruments issued or created by an international branch of a legal entity, the branch is to be

considered as the issuer, not the parent entity.
Note 2 to entry: See Annex A.
3.7
negotiable

readily transferable from one counterparty to another by

delivery or endorsement
3.8
referential instrument
indicator used as a reference for financial instruments
EXAMPLE Baskets, commodities, currencies, indices and reference rates.
4 Principles
4.1 Constituents
The ISIN shall consist of the following (see Annex E for examples):

a) A prefix using the alpha-2 country codes or reserved codes specified in the ISO 3166 series; “XS”,

“EZ” or “ZZ” as specified in Annex A, Table A.1; or other prefixes as may be determined by the RA

(refer to the RA website for a complete list of ISIN prefixes).

b) The basic code, which is nine characters (alphanumeric) in length. Where the existing national code

consists of nine characters, this code may be used. Where the existing national code consists of

fewer than nine characters, this also may be used, but zeros shall be inserted in front of the national

2 PROOF/ÉPREUVE © ISO 2020 – All rights reserved
---------------------- Page: 7 ----------------------
ISO 6166:2020(E)

code. Where a national check digit exists, it shall be regarded as part of the basic code within the

nine characters.

c) A check digit, computed using the modulus 10 “double-add-double” formula as specified in Annex C.

4.2 Instruments for which the ISIN is allocated

At a minimum, the ISIN is allocated to financial or referential instruments in the following list (see

Annex A). It is allocated to these instruments with the following principles:
a) Equities, debt instruments, entitlements and structured products

The ISIN is allocated to the financial instrument regardless of whether or not it is negotiable.

However, in the case of individual bank loans the ISIN is only allocated if the instrument is

negotiable.
b) Derivatives

The ISIN is allocated to those instruments that are traded in their own right, regardless of whether

or not the underlying instrument has been assigned an ISIN.
c) Referential instruments

The ISIN is allocated to these products, which are not financial instruments, when they are

underlying or reference assets to financial instruments.

d) Other instruments (combined instruments, emission allowances and carbon credits, other assets)

For the groups “combined instruments” and “emission allowances and carbon credits”, the ISIN is

allocated when they are traded or admitted to trading. The group “other assets (insurance policies,

real estate deeds, etc.)” may in any case be identified by an ISIN.

The ISIN is allocated to these instruments regardless of the technology used for creating the respective

instruments (e.g. both to instruments in paper form and to instruments in electronic form, including

tokenized instruments).
4.3 Assignment of related codes

Whenever an ISIN is allocated to a financial or referential instrument, a CFI code (see ISO 10962) and an

FISN (see ISO 18774) should also be assigned to the respective instrument.
5 R egistration Authority (RA)
5.1 Name and contact details of the Registration Authority

The name and contact information of the RA for this document can be found at https:// www .iso .org/

maintenance _agencies .html.

Requests for information and enquiries about this document and its implementation can be directed

to the RA.
5.2 S ervice provision
The RA is responsible for the provision of the following services:

a) to promote and make all efforts to ensure the proper use of this document and to ensure the

uniqueness and prevent the reuse of allocated ISIN codes;
b) to support the production of ISINs and
...

DRAFT INTERNATIONAL STANDARD
ISO/DIS 6166
ISO/TC 68/SC 8 Secretariat: SNV
Voting begins on: Voting terminates on:
2020-05-06 2020-07-29
Financial services — International securities identification
numbering system (ISIN)

Valeurs mobilières et autres instruments financiers concernés — Système international de numérotation

pour l'identification des valeurs mobilières (ISIN)
ICS: 03.060
THIS DOCUMENT IS A DRAFT CIRCULATED
FOR COMMENT AND APPROVAL. IT IS
THEREFORE SUBJECT TO CHANGE AND MAY
NOT BE REFERRED TO AS AN INTERNATIONAL
STANDARD UNTIL PUBLISHED AS SUCH.
IN ADDITION TO THEIR EVALUATION AS
BEING ACCEPTABLE FOR INDUSTRIAL,
This document is circulated as received from the committee secretariat.
TECHNOLOGICAL, COMMERCIAL AND
USER PURPOSES, DRAFT INTERNATIONAL
STANDARDS MAY ON OCCASION HAVE TO
BE CONSIDERED IN THE LIGHT OF THEIR
POTENTIAL TO BECOME STANDARDS TO
WHICH REFERENCE MAY BE MADE IN
Reference number
NATIONAL REGULATIONS.
ISO/DIS 6166:2020(E)
RECIPIENTS OF THIS DRAFT ARE INVITED
TO SUBMIT, WITH THEIR COMMENTS,
NOTIFICATION OF ANY RELEVANT PATENT
RIGHTS OF WHICH THEY ARE AWARE AND TO
PROVIDE SUPPORTING DOCUMENTATION. ISO 2020
---------------------- Page: 1 ----------------------
ISO/DIS 6166:2020(E)
COPYRIGHT PROTECTED DOCUMENT
© ISO 2020

All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication may

be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying, or posting

on the internet or an intranet, without prior written permission. Permission can be requested from either ISO at the address

below or ISO’s member body in the country of the requester.
ISO copyright office
CP 401 • Ch. de Blandonnet 8
CH-1214 Vernier, Geneva
Phone: [phone]
Fax: [phone]
Email: [e-mail]
Website: www.iso.org
Published in Switzerland
ii © ISO 2020 – All rights reserved
---------------------- Page: 2 ----------------------
ISO/DIS 6166:2020(E)
Contents Page

Foreword ........................................................................................................................................................................................................................................iv

Introduction ..................................................................................................................................................................................................................................v

1 Scope ................................................................................................................................................................................................................................. 1

2 Normative references ...................................................................................................................................................................................... 1

3 Terms and definitions ..................................................................................................................................................................................... 1

4 Principles ..................................................................................................................................................................................................................... 2

4.1 Constituents............................................................................................................................................................................................... 2

4.2 Instruments for which the ISIN is allocated .................................................................................................................. 2

4.3 Assignment of related codes ....................................................................................................................................................... 3

5 R egistration authority (RA) ...................................................................................................................................................................... 3

5.1 Name and contact details of the RA ...................................................................................................................................... 3

5.2 Service provision ................................................................................................................................................................................... 3

6 ISIN allocation ......................................................................................................................................................................................................... 3

6.1 General ........................................................................................................................................................................................................... 3

6.2 Descriptive elements ......................................................................................................................................................................... 3

6.3 Existing ISINs and existing instruments without ISINs ....................................................................................... 4

Annex A (Normative) ........................................................................................................................................................................................................... 5

Annex B (Normative) Minimum descriptive elements for each category/issue type .......................................7

Annex C (Normative) Formula for computing the modulus 10 “double-add-double” check digit .......9

Annex D (Normative) Information requirements for ISIN allocation .............................................................................11

Annex E (Informative) Examples ...........................................................................................................................................................................12

Bibliography .............................................................................................................................................................................................................................14

© ISO 2020 – All rights reserved iii
---------------------- Page: 3 ----------------------
ISO/DIS 6166:2020(E)
Foreword

ISO (the International Organization for Standardization) is a worldwide federation of national standards

bodies (ISO member bodies). The work of preparing International Standards is normally carried out

through ISO technical committees. Each member body interested in a subject for which a technical

committee has been established has the right to be represented on that committee. International

organizations, governmental and non-governmental, in liaison with ISO, also take part in the work.

ISO collaborates closely with the International Electrotechnical Commission (IEC) on all matters of

electrotechnical standardization.

The procedures used to develop this document and those intended for its further maintenance are

described in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the

different types of ISO documents should be noted. This document was drafted in accordance with the

editorial rules of the ISO/IEC Directives, Part 2 (see www .iso .org/ directives).

Attention is drawn to the possibility that some of the elements of this document may be the subject of

patent rights. ISO shall not be held responsible for identifying any or all such patent rights. Details of

any patent rights identified during the development of the document will be in the Introduction and/or

on the ISO list of patent declarations received (see www .iso .org/ patents).

Any trade name used in this document is information given for the convenience of users and does not

constitute an endorsement.

For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and

expressions related to conformity assessment, as well as information about ISO's adherence to the

World Trade Organization (WTO) principles in the Technical Barriers to Trade (TBT), see www .iso .org/

iso/ foreword .html.

This document was prepared by Technical Committee ISO/TC 68, Financial Services, Subcommittee

SC 8, Reference data for Financial Services.

This eighth edition cancels and replaces the seventh edition (ISO 6166:2013), which has been technically

revised.
The main changes compared to the previous edition are as follows:

— clarification that the scope of the standard covers financial instruments as well as referential

instruments;

— addition of new instrument types to which the ISIN code can be allocated (derivative products with

EZ and ZZ prefix, baskets, emission allowances and carbon credits);
— addition of new minimum descriptive elements (Annex B).
A list of all parts in the ISO 6166 series can be found on the ISO website.

Any feedback or questions on this document should be directed to the user’s national standards body. A

complete listing of these bodies can be found at www .iso .org/ members .html.
iv © ISO 2020 – All rights reserved
---------------------- Page: 4 ----------------------
ISO/DIS 6166:2020(E)
Introduction

With the rapid expansion of international business in financial instruments, there was a need for a

universally applicable international securities identification number (ISIN).

No worldwide numbering system existed at the time of the publication of the first edition of this

International Standard. Countries with a developed financial market identified issues of securities

by means of code numbers, which are without any significance outside the country concerned.

Instruments of the same issue were identified by means of different numbers in the country where they

were physically held and/or booked with the result that the national numbers may not be applicable in

cross-border transactions.

Because of its strong rationalization effect, an internationally applicable numbering system substantially

facilitates and supports international business in financial instruments. Such a system is provided by

this International Standard. Since the publication of the first edition of this International Standard, its

scope has expanded from a focus on securities to a much broader range of financial instruments. In

addition, since the publication of the first edition, the Registration authority (RA) has relied on the

work of national numbering agencies (NNAs) which play an integral role in this rationalization effort

and in the implementation of this International Standard.

In preparing this International Standard, care has been taken to conserve the national systems to the

maximum possible extent, not only because of the good routine and valuable experience collected in

this field but also to facilitate the adoption of the worldwide system. Moreover, it provides a system

which is easy to apply internationally and establishes an information network which ensures that the

required information can be obtained worldwide immediately.
© ISO 2020 – All rights reserved v
---------------------- Page: 5 ----------------------
DRAFT INTERNATIONAL STANDARD ISO/DIS 6166:2020(E)
Financial services — International securities identification
numbering system (ISIN)
1 Scope

This International Standard provides a uniform structure for the identification of financial instruments

as well as referential instruments (see Annex A) using a unique identification code and associated

minimum descriptive data (see Annex B).
2 Normative references

The following documents are referred to in the text in such a way that some or all of their content

constitutes requirements of this document. For dated references, only the edition cited applies. For

undated references, the latest edition of the referenced document (including any amendments) applies.

ISO 3166, Codes for the representation of names of countries and their subdivisions

ISO 4217, Codes for the representation of currencies
ISO 8601, Date and time format

ISO 10962, Securities and related financial instruments — Classification of financial instruments (CFI) code

ISO 17442, Financial services — Legal entity identifier (LEI)

ISO 18774, Securities and related financial instruments — Financial Instrument Short Name (FISN)

3 Terms and definitions
For the purposes of this document, the following terms and definitions apply.

ISO and IEC maintain terminological databases for use in standardization at the following addresses:

— ISO Online browsing platform: available at https:// www .iso .org/ obp
— IEC Electropedia: available at http:// www .electropedia .org/
3.1
ISIN
international securities identification number

alphanumeric code which uniquely identifies a specific financial or referential instrument

3.2
ISIN record

record which uniquely identifies a specific financial or referential instrument and consists of the ISIN

and the minimum descriptive data elements
Note 1 to entry: For the minimum descriptive data elements, see Annex B.
3.3
ISIN guidelines

document developed and maintained by the Registration authority to promote a uniform process for

allocation, registration, and dissemination of the ISIN to the financial industry

© ISO 2020 – All rights reserved 1
---------------------- Page: 6 ----------------------
ISO/DIS 6166:2020(E)
3.4
issuer (to be read in conjunction with Annex A)

in the case of equities and entitlements, the legal entity in which the instrument creates an interest; in

the case of debt instruments the borrower; otherwise, the legal entity that creates or administers the

instrument

Note 1 to entry: In the case of shares or units in collective investment vehicles such as investment funds, mutual

funds or hedge funds, the fund is to be considered as the issuer, not the fund management company. However,

in the case of an insurance fund, an interest is created in the insurer, which therefore is the issuer. In the case

of debt and other instruments issued or created by an international branch of a legal entity, the branch is to be

considered as the issuer, not the parent entity.
3.5
negotiable

〈legal ownership of financial instrument〉 readily transferable from one counterparty to another by

delivery or endorsement
3.6
referential instruments

indicators such as baskets, commodities, currencies, indices and reference rates, which are used as a

reference for financial instruments
4 Principles
4.1 Constituents
The ISIN shall consist of the following:

a) a prefix using the alpha-2 country codes or reserved codes specified in ISO 3166; XS”, “EZ” or “ZZ”

as specified in Annex A; or other prefixes as may be determined by the Registration authority (refer

to the Registration authority website for a complete list of ISIN prefixes);

b) the basic code, which is nine characters (alphanumeric) in length. Where the existing national code

consists of nine characters, this code may be used; where the existing national code consists of

fewer than nine characters, this also may be used, but zeros shall be inserted in front of the national

code. Where a national check digit exists, it shall be regarded as part of the basic code within the

nine characters;

c) a check digit, computed using the modulus 10 “double-add-double” formula as specified in Annex C.

4.2 Instruments for which the ISIN is allocated

At a minimum, the ISIN is allocated to financial or referential instruments in the following list (see

Annex A). It is allocated to these instruments with the following principles:
a) Equities, debt instruments, entitlements and structured products

The ISIN is allocated to the financial instrument regardless of whether it is negotiable or not.

However, in the case of individual bank loans the ISIN is only allocated if the instrument is

negotiable.
b) Derivatives

The ISIN is allocated to those instruments that are traded in their own right, regardless of whether

or not the underlying instrument may have been assigned an ISIN.
c) Referential instruments

The ISIN is allocated to these products, which are not financial instruments, when they are

underlying or reference assets to financial instruments.
2 © ISO 2020 – All rights reserved
---------------------- Page: 7 ----------------------
ISO/DIS 6166:2020(E)

d) Other instruments (combined instruments, emission allowances and carbon credits, other assets)

For the groups “combined instruments” and “emission allowances and carbon credits”, the ISIN is

allocated when they are traded or admitted to trading. The group “other assets (insurance policies,

real estate deeds, etc.)” may in any case be identified by an ISIN.

The ISIN is allocated to the above instruments regardless of the technology used for creating the

respective instruments (e.g. both to instruments in paper form and to instruments in electronic form

including tokenized instruments).
4.3 Assignment of related codes

Whenever an ISIN is allocated to a financial or referential instrument, also a CFI code (ISO 10962) and a

FISN (ISO 18774) should be assigned to the respective instrument.
5 R egistration authority (RA)
5.1 Name and contact details of the RA
The name and contact details of the organization acting as RA for this
...