What is ISInow known as?

ISInow, also known as International Securities Identification Number (ISIN), is a global standard for identifying securities such as stocks, bonds, and mutual funds. It provides a unique code that helps in the identification, tracking, and trading of these financial instruments across different markets.

How does ISInow work?

The ISInow code consists of 12 characters, comprising a combination of letters and numbers. The first two characters represent the country code, followed by nine alphanumeric characters representing the security itself, and the last character acting as a check digit. This unique code allows for quick and accurate identification of securities.

When a new security is issued, the issuer applies to a local national numbering agency (NNA) for an ISInow code. The NNA then verifies the details and assigns a unique code to the security. This code remains unchanged throughout the life cycle of the security, even if it is traded across different markets or exchanges.

Benefits and importance of ISInow

ISInow plays a crucial role in various aspects of the financial industry. Here are some key benefits and reasons why ISInow is important:

1. Global identification: With the use of ISInow codes, securities can be easily identified and tracked across different markets globally. This promotes interoperability and facilitates cross-border trading.

2. Standardized information: ISInow provides a standardized format for representing and disseminating information about securities. It simplifies data sharing between market participants, regulators, and investors.

3. Efficient settlement process: The use of ISInow codes streamlines the settlement process by ensuring accurate and timely matching of securities. This reduces the risk of errors and delays during settlement.

Conclusion

ISInow, or International Securities Identification Number, is a global standard for identifying securities. It provides a unique code that simplifies the identification and tracking of financial instruments across different markets. With the use of ISInow codes, securities can be easily identified, traded, and settled in a more efficient manner. As the financial industry continues to evolve, ISInow remains an essential tool for market participants, regulators, and investors.