International Securities Identification Number (ISIN) - Explained
What is an ISIN Number?
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Table of ContentsWhat is an International Securities Identification Number (ISIN)?How is an ISIN Used?Academic Research on International Securities Identification Numbering (ISIN)
What is an International Securities Identification Number (ISIN)?
The ISIN (International Securities Identification Number) is a numerical value which is used as a unique identifier of a security. It is an alphanumeric code containing 12 characters. There is a particular organization in every country that is responsible for assigning ISINs, commonly said to be an NNA (National Numbering Agency).
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How is an ISIN Used?
ISO 6166 (International Organization for Standardization) defines the ISINs. The securities that are traded internationally must have this number. There are several states which follow a different numbering system, e.g., the United States, Canada, etc. use the number, called CUSIP (Committee on Uniform Security Identification Procedures).
A CUSIP Service Bureau runs a banking system and issues this number. It was established in 1964. The main objective to form this organization was to make the securities tracking better. It also ensures to keep up the securities securities regulatory standards. Hence, aims to improve the industry of financial services.
The standard ISIN codes contain twelve characters, including the digits and alphabets. Every character of ISIN represents a specific attribute. The 1st 2 numbers show the company's headquarters that issue the security. The next 9 numbers exhibit particular security. The last character is a security check. The United States stock may have ISIN US-00050275-0.
Majority of agencies that issue a random number in the middle of ISIN using the randomization system. This is a measure to avoid counterfeit copies.
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