An International Securities Identification Number (ISIN) uniquely identifies a security
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
ISO 6166 defines the structure of an International Securities Identifying Number . An ISIN uniquely identifies a fungible security. Securities with which ISINs can be used are Equities, Fixed income & ETF's only....
. Securities for which ISINs are issued include bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
In the global money market, commercial paper is an unsecured promissory note with a fixed maturity of 1 to 270 days. Commercial Paper is a money-market security issued by large banks and corporations to get money to meet short term debt obligations , and is only backed by an issuing bank or...
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....
s. The ISIN code is a 12-character alpha-numerical code that does not contain information characterizing financial instruments but serves for uniform identification of a security at trading and settlement
Settlement (finance)
Settlement of securities is a business process whereby securities or interests in securities are delivered, usually against payment of money, to fulfill contractual obligations, such as those arising under securities trades....
.
Securities to which ISINs can be issued include debt securities, shares, options, derivatives and futures. The ISIN identifies the security, not the exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
(if any) on which it trades; it is not a ticker symbol
Ticker symbol
A stock symbol or ticker symbol is a short abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both. "Ticker symbol" refers to the symbols that were printed on the ticker...
. For instance, Daimler AG stock trades through almost 30 trading platforms and exchanges worldwide, and is priced in five different currencies; it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trading location in this case, and another identifier, typically MIC
Market identification code
The Market Identification Code is a unique identification code used to identify securities trading exchanges, regulated and non-regulated trading markets. For examples trades that are executed in US NASDAQ market are identified using MIC code XNAS...
(Market Identification Code) or the three-letter exchange code, will have to be specified in addition to the ISIN. The Currency of the trade will also be required to uniquely identify the instrument using this method.
Description
An ISIN consists of three parts: Generally, a two letter country code, a nine character alpha-numeric national security identifier, and a single check digit
Check digit
A check digit is a form of redundancy check used for error detection, the decimal equivalent of a binary checksum. It consists of a single digit computed from the other digits in the message....
ISO 3166-1 alpha-2 codes are two-letter country codes defined in ISO 3166-1, part of the ISO 3166 standard published by the International Organization for Standardization , to represent countries, dependent territories, and special areas of geographical interest...
code for the country of issue, which is not necessarily the country where the issuing company is domiciled. International securities cleared through Clearstream
Clearstream
Clearstream Banking S.A. is the clearing and settlement division of Deutsche Börse, based in Luxembourg and Frankfurt. Clearstream was created in January 2000 through the merger of Cedel International and Deutsche Börse Clearing...
Euroclear is a user owned and governed Brussels, Belgium based financial services company that specializes in the settlement of securities transactions as well as the safekeeping and asset servicing of these securities. It was founded in 1968 as part of J.P...
, which are Europe-wide, use "XS" as the country code.
Issuance
The ISIN is based on the National Securities Identifying Number, or NSIN
NSIN
A National Securities Identifying Number or NSIN is a generic nine-digit alpha numeric code which identifies a fungible security. The NSIN is issued by a national numbering agency designated for that country. Regional substitute NNAs have been allocated the task of functioning as NNAs in those...
A national numbering agency is the organisation in each country responsible for issuing International Securities Identification Numbers as described by the ISO 6166 standard and the Classification of Financial Instruments code as described by the ISO 10962 standard...
(NNA). The NNA's are co-ordinated through the Association of National Numbering Agences, ANNA. ISIN and CFI
ISO 10962
ISO 10962 is the CFI code maintained by the International Organization for Standardization . It is an alphabetical code consisting of 6 letters. The first letter is the category, the second is the group, and the remaining letters show special attributes of the group...
information can be accessed through the ANNA Service Bureau, run by Standard and Poor's and SIX Telekurs
SIX Telekurs
SIX Telekurs is a Financial Data Vendor and specializes in procuring, processing and distributing international financial information. Financial market specialists at SIX Telekurs gather information from all the world’s major trading venues – directly and in real-time...
.
The NSIN element of the ISIN can be up to 9 digits long. Shorter numbers are padded with leading zeros before the addition of the county code and a check digit transform the NSIN to an ISIN.
The acronym CUSIP historically refers to the Committee on Uniform Security Identification Procedures, which was founded in 1964, during the paper crunch in Wall Street. This 9-character alphanumeric code identifies any North American security for the purposes of facilitating clearing and settlement...
organization, meaning that CUSIPs can easily be converted into ISINs by adding the US or CA country code to the beginning of the existing CUSIP code and adding an additional check digit at the end. In the United Kingdom and Ireland the NNA is the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
SEDOL stands for Stock Exchange Daily Official List, a list of security identifiers used in the United Kingdom and Ireland for clearing purposes. The numbers are assigned by the London Stock Exchange, on request by the security issuer...
, converted in a similar fashion . Swiss ISINs are issued by SIX Telekurs
SIX Telekurs
SIX Telekurs is a Financial Data Vendor and specializes in procuring, processing and distributing international financial information. Financial market specialists at SIX Telekurs gather information from all the world’s major trading venues – directly and in real-time...
-VALOR Numbers:The VALOR number is a code which uniquely identifies listed securities and financial instruments used in Switzerland, and serve a similar purpose to CUSIP or WKN in the North American or German markets respectively.-Allocation Methodology:...
. Most other countries use similar conversions, but if no country NNA exists then regional NNAs are used instead.
ISIN Calculation Methodology
The procedure for calculating ISIN check digits is similar to the "Modulus 10 Double Add Double" technique used in CUSIPs. To calculate the check digit, first convert any letters to numbers by adding their ordinal position in the alphabet to 9, such that A = 10 and M = 22. Starting with the right most digit, every other digit is multiplied by two. (For CUSIP check digits, these two steps are reversed.) The resulting string of digits (numbers greater than 9 becoming two separate digits) are added up. Subtract this sum from the smallest number ending with zero that is greater than or equal to it: this gives the check digit, which is also known as the ten's complement of the sum modulo 10. That is, the resulting sum, including the check-digit, is a multiple of 10.
ISINs are slowly being introduced worldwide. At present, trading, clearing and settlement systems in many countries have adopted ISINs as a secondary measure of identifying securities. Additionally, some of those countries, mainly in Europe, have moved to using ISINs as their primary means of identifying securities.
The American Standard Code for Information Interchange is a character-encoding scheme based on the ordering of the English alphabet. ASCII codes represent text in computers, communications equipment, and other devices that use text...
code for the capital letter and subtract 55 Excel VBA Function for validating an ISINCode:
Public Function ISINCODE(ByVal sISINCode As String) As Boolean
'Jelle-Jeroen Lamkamp 28 Apr 2008
Dim i As Integer: Dim iTotalScore As Integer
Dim s As String: Dim sDigits As String
sISINCode = UCase(Trim(sISINCode))
If Len(sISINCode) <> 12 Then Exit Function
If MID(sISINCode,1,1) < "A" Or MID(sISINCode,1,1) > "Z" Then Exit Function
If MID(sISINCode,2,1) < "A" Or MID(sISINCode,2,1) > "Z" Then Exit Function
sDigits = ""
For i = 1 To 11
s = Mid(sISINCode, i, 1)
If s >= "0" And s <= "9" Then
sDigits = sDigits & s
ElseIf s >= "A" And s <= "Z" Then
sDigits = sDigits & CStr(Asc(s) - 55)
Else
Exit Function
End If
Next i
sDigits = StrReverse(sDigits)
iTotalScore = 0
For i = 1 To Len(sDigits)
iTotalScore = iTotalScore + CInt(Mid(sDigits, i, 1))
If i Mod 2 = 1 Then
iTotalScore = iTotalScore + CInt(Mid(sDigits, i, 1))
If CInt(Mid(sDigits, i, 1)) > 4 Then
iTotalScore = iTotalScore - 9
End If
End If
Next i
If (10 - (iTotalScore Mod 10)) Mod 10 = CInt(Mid(sISINCode, 12, 1)) Then ISINCODE = True
End Function
TSQL codes for validating an ISINCode:
--
SET ANSI_NULLS ON
GO
SET QUOTED_IDENTIFIER ON
GO
--
-- Author: Pang Chong Peng
-- Create date: 20/7/2010
-- Description: CheckSum for ISIN code
--
CREATE FUNCTION [dbo].[fn_IsISINValid] ( @ISINCode AS NVARCHAR(20))
RETURNS BIT
AS
BEGIN
DECLARE @i AS INT;
DECLARE @iTotalScore AS int;
DECLARE @s AS INT;
DECLARE @sDigit AS VARCHAR(22); /* Edit 101004 csouto: Needs to be 22 characters long so it can validate Isin Codes for 'Lotes Padrão' */
SELECT @ISINCode = UPPER(@ISINCode);
IF LEN (@ISINCode) != 12
RETURN 0;
IF ASCII(SUBSTRING(@ISINCode, 1, 1)) < ASCII('A') OR ASCII(SUBSTRING(@ISINCode, 1, 1)) > ASCII('Z')
RETURN 0;
IF ASCII(SUBSTRING(@ISINCode, 2, 1)) < ASCII('A') OR ASCII(SUBSTRING(@ISINCode, 2, 1)) > ASCII('Z')
RETURN 0;
IF (ISNUMERIC(SUBSTRING(@ISINCode, 12, 1)) = 0) -- Check that the checksum is numeric
RETURN 0;
SELECT @sDigit = ;
SELECT @i = 1;
WHILE (@i <= 11)
BEGIN
SELECT @s = ASCII(SUBSTRING(@ISINCode, @i, 1))
IF @s >= ASCII('0') AND @s <= ASCII('9')
SELECT @sDigit = @sDigit + SUBSTRING(@ISINCode, @i, 1);
ELSE IF @s >= ASCII('A') AND @s <= ASCII('Z')
SELECT @sDigit = @sDigit + CONVERT(VARCHAR(2), @s - 55);
ELSE
BREAK;
SELECT @i = @i + 1;
END
Java code for validating an ISINCode:
private static final Pattern ISIN_PATTERN = Pattern.compile("[A-Z]{2}([A-Z0-9]){9}[0-9]");
public static boolean checkIsinCode(String isin) {
if (isin null) {
return false;
}
if (!ISIN_PATTERN.matcher(isin).matches) {
return false;
}
StringBuffer digits = new StringBuffer;
for (int i = 0; i < 11; i++) {
digits.append(Character.digit(isin.charAt(i), 36));
}
digits.reverse;
int sum = 0;
for (int i = 0; i < digits.length; i++) {
int digit = Character.digit(digits.charAt(i));
if (i % 2 0) {
digit *= 2;
}
sum += digit / 10;
sum += digit % 10;
}
int checkDigit = Character.digit(isin.charAt(11));
int tensComplement = (sum % 10
using System;
using System.Text.RegularExpressions;
namespace ISIN
{
public static class ISINChecker
{
public static bool CheckIsinCode(string isin)
{
Regex ISIN_PATTERN = new Regex(@"[A-Z]{2}([A-Z0-9]){9}[0-9]");
if (isin null)
{
return false;
}
if (!ISIN_PATTERN.IsMatch(isin))
{
return false;
}
int[] digits = new int[22];
int index = 0;
for (int i = 0; i < 11; i++)
{
char c = isin[i];
if (c >= '0' && c <= '9')
{
digits[index++] = c - '0';
}
else if (c >= 'A' && c <= 'Z')
{
int n = c - 'A' + 10;
int tens = n / 10;
if (tens != 0)
{
digits[index++] = tens;
}
digits[index++] = n % 10;
}
else
{
// Not a digit or upper-case letter.
return false;
}
}
int sum = 0;
for (int i = 0; i < index; i++)
{
int digit = digits[index - 1 - i];
if (i % 2 0)
{
digit *= 2;
}
sum += digit / 10;
sum += digit % 10;
}
int checkDigit = isin[11] - '0';
int tensComplement = (sum % 10
def checkISIN(value):
value = value.strip.upper
m = re.match('^([A-Z][A-Z])([A-Z0-9]{9}\d)$', value)
if not m:
return False
sum_digits_str = .join(str(int(c, 36)) for c in value[:11])
total_sum = 0
parity = len(sum_digits_str) % 2
for n, c in enumerate(sum_digits_str):
a = int(c)
if n % 2 != parity:
a = a * 2
total_sum += a / 10
total_sum += a % 10
check_digit = (10 - (total_sum % 10)) % 10
return value[11]
unicode(check_digit)
if __name__
"__main__":
for i in [
'US0378331005',
'AU0000XVGZA3',
'GB0002634946']:
print i, checkISIN(i)
SAS code for validating ISIN codes
/* Aitor Olasagasti Alonso 2011-04-19 */
/* SAS 8.2 and SAS 9.X compatible */
data trueIsin;
set isinTable;
length allCode $24;
ilegal = 0;
if length(isin) ^= 12 then delete;
lastNum = substr(isin, 12, 1);
code = rank(lastNum);
if not (code >= 48 and code =< 57) then delete;
do i = 1 to 11;
code = rank(substr(isin, i, 1));
if code <48 or (code > 57 and code < 65) or code > 90 then ilegal = 1;
if (i = 1 or i = 2) and (code < 65 or code > 90) then ilegal = 1;
if code >= 65 and code =< 90 then do;
code = code-55;
allCode = compress(allCode) || compress(put(code, best.));
end;
else do;
allCode = compress(allCode) || substr(isin, i, 1);
end;
end;
if ilegal then delete;
suma = 0;
rAllCode = reverse(trim(allCode));
rlength = length(rAllCode);
do i = 1 to rlength;
numb = input(substr(rAllCode, i, 1), best.);
if mod(i, 2) then do;
numb = numb * 2;
if numb / 10 >= 1 then do;
suma = suma + mod(numb, 10) + 1;
end;
else do;
suma = suma + (numb);
end;
end;
else do;
suma = suma + numb;
end;
end;
modSum = mod(suma, 10);
total = mod(10 - modSum, 10);
if total ^= input(lastNum, best.) then delete;
run;
Apple Inc.: ISIN US0378331005, expanded from CUSIP
CUSIP
The acronym CUSIP historically refers to the Committee on Uniform Security Identification Procedures, which was founded in 1964, during the paper crunch in Wall Street. This 9-character alphanumeric code identifies any North American security for the purposes of facilitating clearing and settlement...
037833100
The main body of the ISIN is the original CUSIP, assigned in the 1970s. The country code "US" has been added on the front, and an additional check digit at the end. The country code indicates the country in which the issuer is domiciled. The check digit is calculated in this way...
Take the 10s modulus of the result (this final step is important in the instance where the modulus of the sum is 0, as the resulting check digit would be 10).
5 mod 10 = 5
So the ISIN check digit is five.
Treasury Corporation of Victoria
TREASURY CORP VICTORIA 5 3/4% 2005-2016: ISIN AU0000XVGZA3
Convert any letters to numbers:
A = 10, G = 16, U = 30, V = 31, X = 33, Z = 35. AU0000XVGZA -> 103000003331163510.
Take the 10s modulus of the result (this final step is important in the instance where the modulus of the sum is 0, as the resulting check digit would be 10).
BAE Systems plc is a British multinational defence, security and aerospace company headquartered in London, United Kingdom, that has global interests, particularly in North America through its subsidiary BAE Systems Inc. BAE is among the world's largest military contractors; in 2009 it was the...
SEDOL stands for Stock Exchange Daily Official List, a list of security identifiers used in the United Kingdom and Ireland for clearing purposes. The numbers are assigned by the London Stock Exchange, on request by the security issuer...
, padded on the front with the addition of two zeros. The country code "GB" is then added on the front, and the check digit on the end as in the example above.
The source of this article is wikipedia, the free encyclopedia. The text of this article is licensed under the GFDL.
