International Securities Identification Number (ISIN)

The ISIN number (International Securities Identification Number) is a unique identifier of a financial instrument, which consists of a combination of a series of letters and numbers. The ISIN number identifies the essential characteristics of the financial instrument, such as the type, issuer and country of issue. It was first used in the early 1980s, but was generally accepted in the late 1980s.

This alphanumeric code is used for the international identification of a financial instrument. In order to provide a universal way of identifying financial instruments in financial transactions at the international level, the standard ISO 6166, Financial services – International securities identification number (ISIN) is applied. The first version of this standard was adopted as soon as the ISIN number became more widely used. ISO 6166 has been recently revised (https://iss.rs/sr_Cyrl/project/show/iso:proj:78502), the previous version that was valid for 8 years, was withdrawn.

This document defines a unique structure for the identification of financial instruments, as well as reference instruments, using a unique identification code and associated minimum descriptive data. In order to facilitate the adoption of the world system and ensure the efficient application of the standards, national systems, i.e. the work of national numbering agencies (NNAs) which play an integral role in the implementation of the standard, has been considered. It has a total of 12 characters, of which the first are 2 alphabetic characters, then 9 alphanumeric characters representing the National Identification Number (NSIN) and 1 numeric character. Since national numbering schemes are its basis, when for some reason there is a change in the national number, the international number also changes.

Since it was last revised in 2013, the scope of the standard has expanded to include many types of financial instruments, not just securities. The main changes compared to the previous edition include the addition of new instrument types, for example OTC derivatives, baskets, emission allowances and carbon credits, to which the ISIN code can be allocated, as well as the introduction of new minimum descriptive elements. In this way, a uniform structure for the identification of financial instruments as well as referential instruments is provided.

In our country, the ISIN number is also applied, in accordance with the Rulebook on determining the types of securities and other financial instruments ("Official Gazette of RS", No. 102/2003). Determining and assigning a uniform identification number of financial instruments is performed in a joint stock company that performs clearing, settlement and registration of transactions with financial instruments, called the Central Registry, Depot and Clearing of Securities (abbreviated: Central Registry).