International Securities Identification Number
An International Securities Identification Number (ISIN) uniquely identifies a security. Its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper, stocks and warrants. 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.
Securities to which ISINs can be issued include debt securities, shares, options, derivatives and futures. ISIN cannot specify a particular trading location in this case, and another identifier, typically MIC (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.
History
ISINs were first used in 1981, but didn't reach wide acceptance until 1989, when the G30 countries recommended adoption. The ISIN was endorsed a year later by ISO with the ISO 6166 standard. In 1994 a global access method was developed to facilitate the electronic exchange of ISIN information. Association of National Numbering Agencies (ANNA) was set up and charged with the implementation and availability of ISIN throughout the world and national numbering agencies were set up for each country.