ISO 10962:2015

Securities and related financial instruments - Classification of financial instruments (CFI code)

ISO 10962:2015 defines and describes codes for an internationally valid system to classify financial instruments. The classification system applies to financial instruments negotiated internationally as well as to domestic instruments. The term "financial instruments" refers not only to classical securities, but also covers the innovative financial products that have emerged in different markets (a trend that is expected to continue in the future). ISO 10962:2015 is intended for use in any application in the trading and administration of securities in the international securities business. In so far as the trading and the administration of securities do not affect other countries, the application of this International Standard remains at the discretion of the responsible national bodies, such as stock exchanges, banks, brokers, regulatory bodies and other institutions active in the securities field. In principle, the CFI code reflects characteristics that are defined when a financial instrument is issued and that remain unchanged during its entire lifetime. However, a few events that can lead to a new CFI code for the same instrument are anticipated, such as the changing of voting rights or ownership restrictions by a stockholders' meeting.

Valeurs mobilières et autres instruments financiers concernés — Classification des instruments financiers (code CFI)

General Information

• Status: Withdrawn
• Publication Date: 23-Jul-2015
• Withdrawal Date: 23-Jul-2015
• ICS: 03.060 - Finances. Banking. Monetary systems. Insurance
• Technical Committee: ISO/TC 68/SC 8 - Reference data for financial services
• Drafting Committee: ISO/TC 68/SC 8 - Reference data for financial services
• Current Stage: 9599 - Withdrawal of International Standard
• Start Date: 01-Oct-2019
• Completion Date: 13-Dec-2025
• Directive: TP186 - Navodilo o poročanju o poslih z vrednostnimi papirji

Relations

• Revised: ISO 10962:2019 - Securities and related financial instruments - Classification of financial instruments (CFI) code
• Effective Date: 15-Apr-2017
• Revises: ISO 10962:2001 - Securities and related financial instruments - Classification of Financial Instruments (CFI code)
• Effective Date: 15-Apr-2008

Standards Content (Sample)

INTERNATIONAL ISO
STANDARD 10962
Third edition
2015-07-15
Securities and related financial
instruments — Classification of
financial instruments (CFI code)
Valeurs mobilières et autres instruments financiers concernés —
Classification des instruments financiers (code CFI)
Reference number
©
ISO 2015
© ISO 2015, Published in Switzerland
All rights reserved. Unless otherwise specified, 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
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ii © ISO 2015 – All rights reserved

Contents Page
Foreword .vi
Introduction .vii
1 Scope . 1
2 Normative references . 1
3 Conventions and principles . 1
4 CFI allocation . 2
4.1 General . 2
4.2 Existing CFIs and existing securities without a CFI . 2
5 Codes and definitions . 3
5.1 Categories . 3
5.2 Equities - E-*-*-*-*-*- . 3
5.2.1 Description . . . 3
5.2.2 Common/ordinary shares - E-S-*-*-*-*- . 4
5.2.3 Preferred/preference shares - E-P-*-*-*-*- . 4
5.2.4 Common/ordinary convertible shares - E-C-*-*-*-*- . 5
5.2.5 Preferred/preference convertible shares - E-F-*-*-*-*- . 6
5.2.6 Limited partnership units - E-L-*-*-*-*- . . 7
5.2.7 Depositary receipts on equities - E-D-*-*-*-*- . 7
5.2.8 Structured instruments (participation) - E-Y-*-*-*-*- . 8
5.2.9 Others (miscellaneous) - E-M-X-X-X-*- .10
5.3 Collective investment vehicles - C-*-*-*-*-*- .10
5.3.1 Description . . .10
5.3.2 Standard (vanilla) investment funds/mutual funds - C-I-*-*-*-*- .10
5.3.3 Hedge funds - C-H-*-X-X-X- .11
5.3.4 Real estate investment trusts (REIT) - C-B-*-*-X-*- .12
5.3.5 Exchange traded funds (ETF) - C-E-*-*-*-*- .13
5.3.6 Pension funds - C-S-*-*-*-*- .13
5.3.7 Funds of funds - C-F-*-*-*-*- .14
5.3.8 Private equity funds - C-P-*-*-*-*- .15
5.3.9 Others (miscellaneous) - C-M-X-X-X-*-.15
5.4 Debt instruments - D-*-*-*-*-*- .16
5.4.1 Description . . .16
5.4.2 Bonds - D-B-*-*-*-*- .16
5.4.3 Convertible bonds - D-C-*-*-*-*- .18
5.4.4 Bonds with warrants attached - D-W-*-*-*-*- .19
5.4.5 Medium term notes - D-T-*-*-*-*- .20
5.4.6 Money market instruments - D-Y-*-*-X-*- .21
5.4.7 Structured instruments (capital protection) - D-S-*-*-*-*- .22
5.4.8 Structured instruments (without capital protection) - D-E-*-*-*-*- .23
5.4.9 Mortgage-backed securities - D-G-*-*-*-*- .25
5.4.10 Asset-backed securities - D-A-*-*-*-*- .26
5.4.11 Municipal bonds - D-N-*-*-*-*- .27
5.4.12 Depositary receipts on debt instruments - D-D-*-*-*-*- .28
5.4.13 Others (miscellaneous) - D-M-*-X-X-*- .29
5.5 Entitlements (rights) - R-*-*-*-*-*- .30
5.5.1 Description . . .30
5.5.2 Allotment (bonus) rights - R-A-X-X-X-*- .30
5.5.3 Subscription rights - R-S-*-X-X-*- .30
5.5.4 Purchase rights - R-P-*-X-X-*- .31
5.5.5 Warrants - R-W-*-*-*-*- .31
5.5.6 Mini-future certificates/constant leverage certificates - R-F-*-*-*-*- .32
5.5.7 Depositary receipts on entitlements - R-D-*-X-X-*- .33
5.5.8 Others (miscellaneous) - R-M-X-X-X-X- .34
5.6 Listed options - O-*-*-*-*-*- .34
5.6.1 Description . . .34
5.6.2 Call options - O-C-*-*-*-*- .34
5.6.3 Put options - O-P-*-*-*-*- .35
5.6.4 Others (miscellaneous) - O-M-X-X-X-X- .36
5.7 Futures - F-*-*-*-*-X- .36
5.7.1 Description . . .36
5.7.2 Financial futures - F-F-*-*-*-X- .36
5.7.3 Commodities futures - F-C-*-*-*-X- .37
5.8 Swaps - S-*-*-*-*-*- .37
5.8.1 Description . . .37
5.8.2 Rates - S-R-*-*-*-*- .38
5.8.3 Commodities - S-T-*-*-X-*- .39
5.8.4 Equity - S-E-*-*-X-*- .40
5.8.5 Credit - S-C-*-*-*-*- . .41
5.8.6 Foreign exchange - S-F-*-X-X-*- .42
5.8.7 Others (miscellaneous) - S-M-*-X-X-*- .42
5.9 Non-listed and complex listed options - H-*-*-*-*-*- .43
5.9.1 Description . . .43
5.9.2 Rates - H-R-*-*-*-*- .43
5.9.3 Commodities - H-T-*-*-*-*- .45
5.9.4 Equity - H-E-*-*-*-*- .46
5.9.5 Credit - H-C-*-*-*-*- .47
5.9.6 Foreign exchange - H-F-*-*-*-*- .48
5.9.7 Others (miscellaneous) - H-M-*-*-*-*- .49
5.10 Spot - I-*-*-X-X-*- .50
5.10.1 Description . . .50
5.10.2 Foreign exchange - I-F-X-X-X-P- .50
5.10.3 Commodities - I-T-*-X-X-X- .51
5.11 Forwards - J-*-*-X-*-*- .51
5.11.1 Description . . .51
5.11.2 Equity - J-E-*-X-*-*- .51
5.11.3 Foreign exchange - J-F-*-X-*-*- .52
5.11.4 Credit - J-C-*-X-*-*- .52
5.11.5 Rates - J-R-*-X-*-*- .53
5.11.6 Commodities - J-T-*-X-*-*- .53
5.12 Strategies - K-*-X-X-X-X- .54
5.12.1 Description . . .54
5.12.2 Rates - K-R-X-X-X-X- .54
5.12.3 Commodities - K-T-X-X-X-X- .54
5.12.4 Equity - K-E-X-X-X-X- .54
5.12.5 Credit - K-C-X-X-X-X- .55
5.12.6 Foreign exchange - K-F-X-X-X-X- .55
5.12.7 Mixed assets - K-Y-X-X-X-X- .55
5.12.8 Others (miscellaneous) - K-M-X-X-X-X- .55
5.13 Financing - L-*-*-*-X-*- .56
5.13.1 Description . . .56
5.13.2 Loan-lease - L-L-*-X-X-*- .56
5.13.3 Repurchase agreements - L-R-*-*-X-*- .56
5.13.4 Securities lending - L-S-*-*-X-*- .57
5.14 Referential instruments - T-*-*-*-*-X- .58
5.14.1 Description . . .58
5.14.2 Currencies - T-C-*-X-X-X- .58
5.14.3 Commodities - T-T-*-X-X-X- .59
5.14.4 Interest rates - T-R-*-*-X-X- . .59
5.14.5 Indices - T-I-*-*-*-X- .60
5.14.6 Baskets - T-B-*-X-X-X- . .61
iv © ISO 2015 – All rights reserved

5.14.7 Stock dividends - T-D-*-X-X-X- .61
5.14.8 Others (miscellaneous) - T-M-X-X-X-X- .61
5.15 Others (miscellaneous) - M-*-*-*-X-*- .61
5.15.1 Description . . .61
5.15.2 Combined instruments - M-C-*-*-X-*- .62
5.15.3 Other assets - M-M-*-X-X-X- .62
Annex A (informative) Classification examples.64
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 on the meaning of ISO specific terms and expressions related to conformity
assessment, as well as information about ISO’s adherence to the WTO principles in the Technical
Barriers to Trade (TBT) see the following URL: Foreword - Supplementary information
The committee responsible for this document is ISO/TC 68, Financial services, Subcommittee SC 4,
Securities and related financial instruments.
This third edition cancels and replaces the second edition (ISO 10962:2001), which has been extended
to cover necessary technical changes.
vi © ISO 2015 – All rights reserved

Introduction
The Classification of Financial Instruments (CFI) code was developed to address a number of problems
which have concerned the financial community. With the growth of cross-border trading, the
requirement to improve communication of information among market participants has become critical.
The business problems centre around an inability to obtain information on securities due to the lack
of a consistent and uniform approach to grouping financial instruments. With the explosive growth
over the past 20 years in new instruments and features attached to financial instruments, a serious
communication problem has developed.
Many market participants are using similar terminology for instruments having significantly different
features. The problem is compounded when market participants look beyond their own national
markets. They encounter the same words to describe instruments in another country, which have
significantly different features. Where the terminology is in a different language, the market participant
encounters the problem of the same words being applied to different instruments along with the
problems of translation, which also can be misleading.
In addition, the customs and practices of local markets vary considerably in the manner in which they
structure financial instruments, leaving foreign participants confused and perplexed. On careful analysis,
it is often found that the characteristics and features of these instruments are similar to a domestic
instrument. However, most market participants do not have the time and resources to do this analysis.
The inability to group securities in a consistent manner is another problem encountered by market
participants. Reports of holdings by different sources for similar financial instruments often result
in financial instruments being categorized differently. This not only affects comparability, but causes
a credibility issue with the reader. When relative performances are being measured, the ability to
properly categorize holdings is essential if true comparisons are to be made.
The solution envisioned is twofold. One is to establish a series of codes which clearly classify financial
instruments having similar features. The other is to develop a glossary of terms and provide common
definitions, which allow market participants to easily understand terminology being used.
The benefits derived are many.
— The development of these codes will increase the efficiency, reliability, data consistency and
transparency of financial services transactions for both market and reference data. Classifying
financial instruments in a consistent, structured and standardized way is also beneficial for
regulatory reporting requirements.
— The CFI code system provides a set of codes for financial instruments which can be used globally
for Straight Through Processing by all involved participants in an electronic data processing
environment. An example being, readers of portfolio holdings see reports from different sources
using the same categories, groups and attributes making comparison of instruments more credible.
— The broadened scope and coverage of CFI codes encourages market participants to take advantage of
other International Standards, particularly international securities identification numbers (ISINs).
— It is intended that the improved understanding of the characteristics and categorization leads to a
better comprehension of financial instruments. This leads to more active markets and the resulting
improvement in market liquidity. In addition, these codes will be displayed on websites using
internet technology, which has allowed the growth of e-issuing, e-trading and e-settlements.
INTERNATIONAL STANDARD ISO 10962:2015(E)
Securities and related financial instruments —
Classification of financial instruments (CFI code)
1 Scope
This International Standard defines and describes codes for an internationally valid system to
classify financial instruments. The classification system applies to financial instruments negotiated
internationally as well as to domestic instruments. The term “financial instruments” refers not only
to classical securities, but also covers the innovative financial products that have emerged in different
markets (a trend that is expected to continue in the future).
This International Standard is intended for use in any application in the trading and administration
of securities in the international securities business. In so far as the trading and the administration
of securities do not affect other countries, the application of this International Standard remains at
the discretion of the responsible national bodies, such as stock exchanges, banks, brokers, regulatory
bodies and other institutions active in the securities field.
In principle, the CFI code reflects characteristics that are defined when a financial instrument is issued
and that remain unchanged during its entire lifetime. However, a few events that can lead to a new
CFI code for the same instrument are anticipated, such as the changing of voting rights or ownership
restrictions by a stockholders’ meeting.
2 Normative references
The following referenced documents are indispensable for the application 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 4217, Codes for the representation of currencies and funds
ISO 6166, Securities and related financial instruments — International securities identification numbering
system (ISIN)
3 Conventions and principles
3.1 The CFI code provides the most comprehensive information possible, while maintaining the code
manageability. One of the essential rules of this CFI concept is that the classification is determined by
the intrinsic characteristics of the respective financial instruments and not by the instrument names and
terms prevailing in a given country; these terms can possibly be used in a different sense in another
country. This principle avoids confusion arising from different linguistic usage as well as redundancy,
while allowing objective comparison of the instruments across all domestic markets.
3.2 The CFI code consists of six alphabetical characters. The following alphabetic characters A, B, C,
D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z are available for assignment. Two alphabetic
characters have special meaning and cannot be redefined:
X Not applicable/undefined: If the information is unknown, not available or applicable at the time
of assignment, the character ‘X’ is to be used for the respective element
M Others (miscellaneous)
The meaning of an alphabetic character is local to and only valid within the context of its parent
category or group.
3.3 The first character indicates the highest level of classification and differentiates between categories
such as equities, collective investment vehicles, debt instruments and many more.
3.4 The second character indicates specific groups within each category; equities, for example, are
broken down into
— common/ordinary shares,
— preferred/preference shares,
— common/ordinary convertible shares,
— preferred/preference convertible shares,
— limited partnership units,
— depositary receipts on equities
— structured instruments (participation) and
— others (miscellaneous).
Within the category of debt instruments, the groups are bonds, convertible bonds, bonds with warrants
attached, medium-term notes, money market instruments, structured instruments (capital protection),
structured instruments (without capital protection), mortgage-backed securities, asset-backed
securities, municipal bonds, depositary receipts on debt instruments and others (miscellaneous). For
the complete classification breakdown, see Clause 5.
3.5 The last four characters indicate the most relevant attributes applicable to each group. Whereas
voting rights, ownership/transfer/sales restrictions, payment status and form are useful information
in equities, these features do not exist for options, which have other attributes such as option style,
underlying assets, delivery, standardized/non-standardized or trigger.
4 CFI allocation
4.1 General
CFIs are allocated following the conventions and principles of Clause 3 of this International Standard.
Where an instrument is identified using ISO 6166, the relevant ISIN allocation agency will also assign
the CFI. This CFI will always be considered the official CFI.
For those instruments where no ISIN is assigned, the CFI may be derived by a user in accordance with
this International Standard.
CFIs shall be assigned in a timely manner in order to meet the needs of the user community.
4.2 Existing CFIs and existing securities without a CFI
Existing active CFIs assigned in accordance with previous editions of this International Standard will
transition to the most recent edition.
The allocation of CFIs for existing financial instruments without a CFI shall be based on the most
recent edition.
2 © ISO 2015 – All rights reserved

5 Codes and definitions
5.1 Categories
The first character of the CFI code indicates the following categories:
E Equities
C Collective investment vehicles
D Debt instruments
R Entitlement (rights)
O Listed options
F Futures
S Swaps
H Non-listed and complex listed options
I Spot
J Forwards
K Strategies
L Financing
T Referential instruments
M Others (miscellaneous)
For the sake of easier legibility of the following subclauses, the individual characters of the CFI codes
are separated by a hyphen; asterisks (*) serve as placeholders for characters that may vary.
5.2 Equities - E-*-*-*-*-*-
5.2.1 Description
Financial instruments representing an ownership interest in an entity or pool of assets.
Equities are broken down into the following groups:
S Common/ordinary shares
P Preferred/preference shares
C Common/ordinary convertible shares
F Preferred/preference convertible shares
L Limited partnership units
D Depositary receipts on equities
Y Structured instruments (participation)
M Others (miscellaneous)
5.2.2 Common/ordinary shares - E-S-*-*-*-*-
Holders are typically entitled to vote and receive dividends. In the event of liquidation, holders of shares
usually rank behind the entity’s creditors and holders of preferred/preference shares.
First attribute Voting right (indicates the kind of voting power conferred to the shareholder):
V Voting (each share has one vote) -E-S-V-*-*-*-
N Non-voting (the shareholder has no voting right) -E-S-N-*-*-*-
R Restricted voting (the shareholder may be entitled to less -E-S-R-*-*-*-
than one vote per share)
E Enhanced voting (the shareholder is entitled to more than -E-S-E-*-*-*-
one vote per share)
Second attribute Ownership/transfer/sales restrictions (the ownership or transfer of the security
is subject to special conditions including country specific restrictions):
T Restrictions -E-S-*-T-*-*-
U Free (unrestricted) -E-S-*-U-*-*-
Third attribute Payment status:
O Nil paid -E-S-*-*-O-*-
P Partly paid -E-S-*-*-P-*-
F Fully paid -E-S-*-*-F-*-
Fourth attribute Form (negotiability, transmission):
B Bearer (the owner is not registered in the books of the -E-S-*-*-*-B-
issuer or of the registrar)
R Registered (securities are recorded in the name of the -E-S-*-*-*-R-
owner on the books of the issuer or the issuer’s registrar
and can only be transferred to another owner when
endorsed by the registered owner)
N Bearer/registered (securities are issued in both bearer and -E-S-*-*-*-N-
registered form but with the same identification number)
M Others (miscellaneous) -E-S-*-*-*-M-
5.2.3 Preferred/preference shares - E-P-*-*-*-*-
Payment of dividends to holders normally takes preference over the payment of dividends to other
classes of shares. In the event of liquidation, preferred/preference shares normally rank above ordinary
shares but behind creditors of the company.
First attribute Voting right (please refer to 5.2.2):
V Voting -E-P-V-*-*-*-
N Non-voting -E-P-N-*-*-*-
R Restricted voting -E-P-R-*-*-*-
E Enhanced voting -E-P-E-*-*-*-
Second attribute Redemption (indicates the retirement provisions made for the shares):
R Redeemable (the shares may be redeemed at the option of -E-P-*-R-*-*-
the issuer and/or of the shareholder)
E Extendible (the redemption date can be extended at the -E-P-*-E-*-*-
issuer or holder option)
4 © ISO 2015 – All rights reserved

T Redeemable/extendible (the issuer and/or holders of -E-P-*-T-*-*-
redeemable shares with a fixed maturity date have the
option to extend the maturity date)
G Exchangeable (the shares may be exchanged for securities -E-P-*-G-*-*-
of another issuer)
A Redeemable/exchangeable/extendible (the issuer and/or -E-P-*-A-*-*-
holders of redeemable shares with a fixed maturity date
have the option to extend the maturity date and the shares
may be exchanged for securities of another issuer)
C Redeemable/exchangeable (the shares may be redeemed at -E-P-*-C-*-*-
the option of the issuer and/or of the shareholder and may
be exchanged for securities of another issuer)
N Perpetual (the share has no fixed maturity date) -E-P-*-N-*-*-
Third attribute Income (indicates the kind of dividend income the shareholders are entitled to):
F Fixed rate income (the shareholder periodically receives -E-P-*-*-F-*-
a stated income)
C Cumulative, fixed rate income (the shareholder periodically -E-P-*-*-C-*-
receives a stated amount; dividends not paid in any year
accumulate and shall be paid at a later date before dividends
can be paid on the common/ordinary shares)
P Participating income (preferred/preference shareholders, -E-P-*-*-P-*-
in addition to receiving their fixed rate of prior dividend,
share with the common shareholders in further dividend
distributions and in capital distributions)
Q Cumulative, participating income (shareholders are entitled -E-P-*-*-Q-*-
to dividends in excess of the stipulated preferential rate
under specified conditions; dividends not paid in any year
accumulate and shall be paid at a later date before dividends
can be paid on the common/ordinary shares)
A Adjustable/variable rate income (the dividend rate is set -E-P-*-*-A-*-
periodically, usually based on a certain yield)
N Normal rate income (shareholders are entitled to the same -E-P-*-*-N-*-
dividends as common/ordinary shareholders, but have
other privileges, e.g. as regards distribution of assets upon
dissolution)
U Auction rate income (dividend is adjusted through an -E-P-*-*-U-*-
auction, such as the Dutch auction)
Fourth attribute Form (please refer to 5.2.2):
B Bearer -E-P-*-*-*-B-
R Registered -E-P-*-*-*-R-
N Bearer/registered -E-P-*-*-*-N-
M Others (miscellaneous) -E-P-*-*-*-M-
5.2.4 Common/ordinary convertible shares - E-C-*-*-*-*-
Shares (common/ordinary) which, at the discretion of the holder, are convertible into other securities,
at a designated rate. The conversion privilege may be perpetual or limited to a specific period.
First attribute Voting right (please refer to 5.2.2):
V Voting -E-C-V-*-*-*-
N Non-voting -E-C-N-*-*-*-
R Restricted voting -E-C-R-*-*-*-
E Enhanced voting -E-C-E-*-*-*-
Second attribute Ownership/transfer/sales restrictions (please refer to 5.2.2):
T Restrictions -E-C-*-T-*-*-
U Free (unrestricted) -E-C-*-U-*-*-
Third attribute Payment status:
O Nil paid -E-C-*-*-O-*-
P Partly paid -E-C-*-*-P-*-
F Fully paid -E-C-*-*-F-*-
Fourth attribute Form (please refer to 5.2.2):
B Bearer -E-C-*-*-*-B-
R Registered -E-C-*-*-*-R-
N Bearer/registered -E-C-*-*-*-N-
M Others (miscellaneous) -E-C-*-*-*-M-
5.2.5 Preferred/preference convertible shares - E-F-*-*-*-*-
Preferred/preference shares which, at the discretion of the holder, are convertible into other securities,
usually common/ordinary shares, at a designated rate. The conversion privilege may be perpetual or
limited to a specified period.
First attribute Voting right (please refer to 5.2.2):
V Voting -E-F-V-*-*-*-
N Non-voting -E-F-N-*-*-*-
R Restricted voting -E-F-R-*-*-*-
E Enhanced voting -E-F-E-*-*-*-
Second attribute Redemption (please refer to 5.2.3):
R Redeemable -E-F-*-R-*-*-
E Extendible -E-F-*-E-*-*-
T Redeemable/extendible -E-F-*-T-*-*-
G Exchangeable -E-F-*-G-*-*-
A Redeemable/exchangeable/extendible -E-F-*-A-*-*-
C Redeemable/exchangeable -E-F-*-C-*-*-
N Perpetual -E-F-*-N-*-*-
Third attribute Income (please refer to 5.2.3)
F Fixed rate income -E-F-*-*-F-*-
C Cumulative, fixed rate income -E-F-*-*-C-*-
P Participating income -E-F-*-*-P-*-
Q Cumulative, participating income -E-F-*-*-Q-*-
A Adjustable/variable rate income -E-F-*-*-A-*-
N Normal rate income -E-F-*-*-N-*-
U Auction rate income -E-F-*-*-U-*-
6 © ISO 2015 – All rights reserved

Fourth attribute Form (please refer to 5.2.2):
B Bearer -E-F-*-*-*-B-
R Registered -E-F-*-*-*-R-
N Bearer/registered -E-F-*-*-*-N-
M Others (miscellaneous) -E-F-*-*-*-M-
5.2.6 Limited partnership units - E-L-*-*-*-*-
A limited partnership is a form of partnership similar to a general partnership, except that in addition
to one or more general partners (GPs), there are one or more limited partners (LPs).
Like shareholders in a corporation, the LPs have limited liability, i.e. they are only liable on debts
incurred by the firm to the extent of their registered investment and they have no management
authority. The GPs pay the LPs the equivalent of a dividend on their investment, the nature and extent
of which is usually defined in the partnership agreement.
First attribute Voting right (please refer to 5.2.2):
V Voting -E-L-V-*-*-*-
N Non-voting -E-L-N-*-*-*-
R Restricted voting -E-L-R-*-*-*-
E Enhanced voting -E-L-E-*-*-*-
Second attribute Ownership/transfer/sales restrictions (please refer to 5.2.2):
T Restrictions -E-L-*-T-*-*-
U Free (unrestricted) -E-L-*-U-*-*-
Third attribute Payment status:
O Nil paid -E-L-*-*-O-*-
P Partly paid -E-L-*-*-P-*-
F Fully paid -E-L-*-*-F-*-
Fourth attribute Form (please refer to 5.2.2):
B Bearer -E-L-*-*-*-B-
R Registered -E-L-*-*-*-R-
N Bearer/registered -E-L-*-*-*-N-
M Others (miscellaneous) -E-L-*-*-*-M-
5.2.7 Depositary receipts on equities - E-D-*-*-*-*-
Depository receipts are securities that facilitate the ownership of securities traded in other jurisdictions.
Depository receipts are widely used in order to allow the trading of shares in jurisdictions other than
the one where the original shares were issued.
First attribute Instrument dependency (represents the ownership of an instrument provided
in this table):
S Common/ordinary shares -E-D-S-*-*-*-
P Preferred/preference shares -E-D-P-*-*-*-
C Common/ordinary convertible shares -E-D-C-*-*-*-
F Preferred/preference convertible shares -E-D-F-*-*-*-
L Limited partnership units -E-D-L-*-*-*-
M Others (miscellaneous) -E-D-M-*-*-*-
Second attribute Redemption/conversion of the underlying assets:
Guideline: For common/ordinary shares and limited partnership units, only the
values N (Perpetual) and X (Not applicable/undefined) may be used. All other
values apply for other underlying instruments.
R Redeemable -E-D-*-R-*-*-
N Perpetual -E-D-*-N-*-*-
B Convertible -E-D-*-B-*-*-
D Convertible/redeemable -E-D-*-D-*-*-
X Not applicable/undefined -E-D-*-X-*-*-
Third attribute Income (please refer to 5.2.3):
F Fixed rate income -E-D-*-*-F-*-
C Cumulative, fixed rate income -E-D-*-*-C-*-
P Participating income -E-D-*-*-P-*-
Q Cumulative, participating income -E-D-*-*-Q-*-
A Adjustable/variable rate income -E-D-*-*-A-*-
N Normal rate income -E-D-*-*-N-*-
U Auction rate income -E-D-*-*-U-*-
D Dividends -E-D-*-*-D-*-
Fourth attribute Form (please refer to 5.2.2):
B Bearer -E-D-*-*-*-B-
R Registered -E-D-*-*-*-R-
N Bearer/registered -E-D-*-*-*-N-
M Others (miscellaneous) -E-D-*-*-*-M-
5.2.8 Structured instruments (participation) - E-Y-*-*-*-*-
The construction is generally based on a Low Exercise Price Option LEPO (base value less discounted
future dividends) which in some cases might be comparable to a direct investment in the underlying
asset(s) or a LEPO combined with other options, which together provide the desired disbursement profile.
First attribute Type:
A Tracker certificate [participation in development of the under- -E-Y-A-*-*-*-
lying asset(s); reflects underlying price moves 1:1 (adjusted
by conversion ratio and any related fees); risk is comparable
to direct investment in the underlying asset(s)]
B Outperformance certificate [participation
...