All securities series (either physical or dematerialized) are registered with an ISIN
The ISIN (International Securities Identification Number = international securities code) is a combination of letters and numbers, consisting of 12 characters to identify individual securities series and other stock exchange products.
Securities in the same series have the same ISIN. The issuer is obliged to request ISIN in the cases as follows:
- For the issuance of new securities series,
- For existing securities series (even if it was earlier identified)
- If the form of securities is changed (e.g. physical -> dematerialized)
- If the nominal value or currency is changed,
- If related rights and obligations are changed,
- If securities within one series and issued at different times represent temporarily different rights (e.g. broken dividend), or
- If in case of issuance of securities in the same series as securities already listed on the stock exchange the securities issued later are not listed on the same stock exchange at the time of issue.
Worldwide ISIN and CUSIP Assistance
Public Financing assists companies worldwide with their ISIN number or bond needs. Our domain name and website, www.publicfinancing.org gives our partners the comfort that they are working with a professional global firm with a stellar reputation. Whether one needs an ISIN number in his local country or worldwide Public Financing can assist in an efficient and cost effective manner.
ISINs uniquely identify a security -- its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper, equities and warrants. The ISIN code is a 12-character alpha-numerical code. Think of it as a serial number that does not contain information characterizing financial instruments but rather serves to uniformly identify a security for trading and settlement purposes
To get an ISIN number is usually achieved by drafting the proper documentation and then applying for the correct ISIN code. For a public company usually a prospectus is needed, while for a private company seeking to raise capital a private placement memorandum or offering memorandum is needed. This is also true for obtaining a CUSIP number.
To obtain a CUSIP number a company or fund must also draft the proper documentation and apply for the CUSIP number. To get a CUSIP number one must apply to the proper agency that allocates the CUSIP. Public Financing can assist your company with the drafting of the documentation and the CUSIP application process.
Public Financing can assist with your company or fund’s ISIN number needs.
ISIN or international securities identification number is a 12 digit code that uniquely identifies a security, such as stocks or bonds and many others. The ISIN is an alphanumeric code that is the single most recognizable security identifier used in the global finance market today. In fact, the ISIN is the only universally accepted securities identification code used in the world’s stock exchanges and brokerage houses.
ISIN Issuance and Acceptance
ISIN: International Securities Identification Number: a twelve digit alphanumeric code which uniquely identifies a specific security.
CFI Code: Securities description code promoted by the Association of National Numbering Agencies (ANNA) which describes the characteristics defined when the concerned financial instrument is issued and remains unchanged during the whole life of the security (ISO 10962).
Any appointed fund agent (as documented in the relevant prospectus), typically the transfer agent, registrar, fund manager or administrator can request the issuance of an ISIN code from Public Financing
Acceptance in Public Financing
Public Financing accepts investment funds - collective investment schemes that are ‘unitized’ as a security - for deposit and settlement. This is typically manifested by the existence of an ISIN or an equivalent local market securities identifier.
Investment fund shares must be eligible for book-entry transfer in Public Financing. We do not accept for deposit and settlement participations in collective investment schemes that are only expressed as pro-rata participations such as partnerships and other multi-person ventures.
Acceptance of investment fund shares in Public Financing is subject to the receipt of the final fund prospectus, or the last available draft prospectus if the ISIN is included. In the latter case, the final prospectus must be sent to Public Financing as soon as it is available.
In the case of umbrella funds, where some funds have already been accepted and for which no modifications have been introduced in the first version of the prospectus, only the relevant addendum is required to have an additional share class accepted in Public Financing.
In addition, for compliance and organizational requirements, Public Financing will request documentation in order to:
- Have an overview of the legal structures behind asset managers and transfer agents
- Validate the legal nature of the position that will be held by Public Financing with the entity appointed by the fund to hold and manage its books.