anna numbers the world 1 mauritius may 23, 2008. anna numbers the world 2 overview - anna and its...

ANNA numbers the worldANNA numbers the world 1

MauritiusMauritius

May 23, 2008May 23, 2008


Overview Overview

- ANNA and its MembershipANNA and its Membership

- International StandardisationInternational Standardisation

Uwe Meyer – ANNA SecretariatUwe Meyer – ANNA Secretariat


AgendaAgenda

Overview ANNAOverview ANNA ANNA MembersANNA Members ANNA StructureANNA Structure Working Groups/Task ForcesWorking Groups/Task Forces Annual membershipAnnual membership Benefits of membershipBenefits of membership

Overview and status of International Financial StandardsOverview and status of International Financial Standards Existing standardsExisting standards Standards in preparationStandards in preparation

AppendixesAppendixes


OverviewOverview

ISIN Standard was developed in the 1970’sISIN Standard was developed in the 1970’s ANNA formed from group of ISIN ExpertsANNA formed from group of ISIN Experts ANNA founded in 1992 by 22 National Numbering AgenciesANNA founded in 1992 by 22 National Numbering Agencies ANNA <> ISO: interactive relationshipANNA <> ISO: interactive relationship 15 years of membership growth15 years of membership growth Formation of ASB as single ISIN database for all NNAsFormation of ASB as single ISIN database for all NNAs Registration Authority for ISIN, CFI and FISNRegistration Authority for ISIN, CFI and FISN

Recent major development: China assumes ISIN allocation functionality in Recent major development: China assumes ISIN allocation functionality in their region (12 Oct 2007)their region (12 Oct 2007)


ANNA MembersANNA Members

Total full ANNA memberships (as of 31 Dec 2007): 74 National Numbering Total full ANNA memberships (as of 31 Dec 2007): 74 National Numbering Agencies;Agencies;

ANNA Partners (as of 31 Dec 2007): 19 organisationsANNA Partners (as of 31 Dec 2007): 19 organisations ISIN coverage of 105 countriesISIN coverage of 105 countries

Overview of Membership by BusinessOverview of Membership by Business

Stock ExchangesStock Exchanges 2323

Data VendorsData Vendors 33

CSDs/ICSDsCSDs/ICSDs 4141

Regulatory BodiesRegulatory Bodies 33

Central BanksCentral Banks 44

TotalTotal 7474


Algeria *Algeria * Honduras *Honduras * Azerbaijan *Azerbaijan * Kenya*Kenya*Bangladesh *Bangladesh * Mauritius *Mauritius *Botswana *Botswana * NicaraguaNicaraguaCameroonCameroon Swaziland *Swaziland *Cape VerdeCape Verde TanzaniaTanzaniaCentral Africa (CEMAC)**Central Africa (CEMAC)** Uganda *Uganda *El SalvadorEl Salvador UEMOA **UEMOA **Ghana *Ghana * Zambia *Zambia *

Zimbabwe *Zimbabwe *

* Hand-over process for ISIN numbering has been finalized* Hand-over process for ISIN numbering has been finalized** Perform numbering function on behalf of several countries** Perform numbering function on behalf of several countries

ANNA PartnersANNA Partners


ANNA MEMBERSHIP

ANNA BOARDASB BOARD ANNA

SECRETARIAT

WORKING GROUPS

TASK FORCES

ANNA StructureANNA Structure

ANNA PARTNERS


ANNA BoardANNA BoardANNA BoardANNA Board

• Task ForceTask Force• ConvenorConvenor• MembersMembers

• Working GroupWorking Group• ConvenorConvenor• MembersMembers

General MeetingGeneral MeetingGeneral MeetingGeneral Meeting

ProposalProposalProposalProposal

PreparesPreparesproposalproposalAppointmentAppointment AppointmentAppointment

Set-up procedure ofSet-up procedure ofWorking Groups (WG) / Task Forces (TF)Working Groups (WG) / Task Forces (TF)


ANNA BoardANNA BoardANNA BoardANNA Board WG /TF WG /TF ConvenorConvenorWG /TF WG /TF ConvenorConvenor WG /TF WG /TF WG /TF WG /TF

General MeetingGeneral MeetingGeneral MeetingGeneral Meeting

1. Proposes1. Proposes

2. Initial Report2. Initial Report

2. Initial Report2. Initial Report

3. Agenda for 3. Agenda for meetingsmeetings

4. Results of 4. Results of meetingsmeetings

Reporting ofReporting ofWorking Groups (WG) / Task Forces (TF)Working Groups (WG) / Task Forces (TF)


Annual MembershipAnnual Membership

Membership fees Membership fees €€ 2,000 per full member NNA 2,000 per full member NNA ANNA Board assess revenue and adjust annual fees accordingly ANNA Board assess revenue and adjust annual fees accordingly

Most industry associations require an annual membershipMost industry associations require an annual membership ANNA fees are modest in comparison to other associations (e.g. ANNA fees are modest in comparison to other associations (e.g.

SIIA/FISD, ICMA, ECSDA, ACSDA etc);SIIA/FISD, ICMA, ECSDA, ACSDA etc); Fees are levied irrespective of market size, number of ISINs generated Fees are levied irrespective of market size, number of ISINs generated

or type of organisation;or type of organisation; Fees are primarily used to cover administrative expenses incurred Fees are primarily used to cover administrative expenses incurred

running the association;running the association; Board members travel and expenses are covered by individual Board members travel and expenses are covered by individual

organisations (except specific event representation).organisations (except specific event representation).


Benefits of MembershipBenefits of Membership

Being recognised globally as a full ANNA memberBeing recognised globally as a full ANNA member

Presents the ability to participate in a truly global association;Presents the ability to participate in a truly global association; Presents opportunities to be involved in the development of international standards Presents opportunities to be involved in the development of international standards

that will have a direct impact on your local market;that will have a direct impact on your local market; ANNA members are actively involved not only in ISIN and ISIN related matters but ANNA members are actively involved not only in ISIN and ISIN related matters but

also the development of CFI, FISN and IBEI – all important security identifiers for the also the development of CFI, FISN and IBEI – all important security identifiers for the future.future.

Standards drive market efficiency, clearing and settlement and STP automationStandards drive market efficiency, clearing and settlement and STP automation Over the last 10 years, ISIN has been adopted as the security identification standard Over the last 10 years, ISIN has been adopted as the security identification standard

for clearing and settlement in Europe;for clearing and settlement in Europe; 74 current members share this vision.74 current members share this vision.



The NNA’s local market will gain more visibility in a global The NNA’s local market will gain more visibility in a global environment;environment;

Due to agreements amongst all NNAs, each NNA will have Due to agreements amongst all NNAs, each NNA will have unrestricted access to all other member ISINs and agreed data unrestricted access to all other member ISINs and agreed data elements;elements;

Local market participants will have easier and faster access to Local market participants will have easier and faster access to the exchange of ISINs;the exchange of ISINs;



Possibility to share experience, knowledge and know-how Possibility to share experience, knowledge and know-how among ANNA’s members which is achieved via Country among ANNA’s members which is achieved via Country Reports, Regional reports and Working Group reports;Reports, Regional reports and Working Group reports;

NNAs contribute to each other’s growth, development and NNAs contribute to each other’s growth, development and improvements;improvements;

Right to attend, vote and speak at Ordinary and Extraordinary Right to attend, vote and speak at Ordinary and Extraordinary General Meetings.General Meetings.



The ANNA Board members strongly believe in the merits The ANNA Board members strongly believe in the merits and goals of ANNA as a and goals of ANNA as a truly globaltruly global association. association.

We constantly strive to produce value to the ANNA We constantly strive to produce value to the ANNA members through information sharing, promotion of the members through information sharing, promotion of the efforts of ANNA and apply the association’s missions, efforts of ANNA and apply the association’s missions,

visions and values to all aspects of its operation.visions and values to all aspects of its operation.


As the Registration Authority for ISO 6166 (ISIN) and ISO 10962 (CFI), As the Registration Authority for ISO 6166 (ISIN) and ISO 10962 (CFI), ANNA is empowered by ISO to carry out its duties with respect ANNA is empowered by ISO to carry out its duties with respect to the two standards.to the two standards.

ANNA – The Standardisation Competence

This illustrates the close working cooperation required both directly This illustrates the close working cooperation required both directly and indirectly among ISO as our governing body, the SC4 membership and indirectly among ISO as our governing body, the SC4 membership (the responsible ISO sub-committee focused on ISO standards (the responsible ISO sub-committee focused on ISO standards related to financial instruments) and ANNA as the entity responsible related to financial instruments) and ANNA as the entity responsible the implementation of the standards.the implementation of the standards.


......

Technological innovation

Structural changes

• New regulatory requirements

• Increasing linking of financial markets (e.g. EU)

• Continuing growth in new issues (transparency)

• Diversification and complexity of financial instruments

• Shrinking time-frames (time-to-market)

Modernisation and optimisation of business processes

SpeedTransparency Efficiency

Straight Through Processing (STP)

Standardisation

NSINational standards

institute

NSINational standards

institute

ISOInternational Organization

for Standardization

ISOInternational Organization

for Standardization

SWIFTSociety for Worldwide

Interbank Financial Telecommunication

SWIFTSociety for Worldwide

Interbank Financial Telecommunication

ANNAAssociation of NationalNumbering Agencies

ANNAAssociation of NationalNumbering Agencies

Harmonisation

National Numbering Agencies – Central Access Points for financial industry

Standardisation by and through NNAs


Financial Services TC68

Scope

Standardization for information security management and operations in financial services.

Scope

Standardisation in the field of securities and related financial instruments.

Scope

Standardisation in the filed of core banking where core banking is taken to cover the basic banking functions of deposit taking, lending, account maintenance and the payment execution process associated with operating a bank account.

Chairman Nourredine Yous, Telekurs

ChairmanMike Versace, FidelityInvestments, USA

Chairman: Karla McKenna, Citigroup, Inc., USASecretariat: Accredited Standards Committee (X9), USA

Security and Operations

SC2 SC4 SC7Core Banking

Securities and related financial

instruments

Development and maintenance ISO 20022

WG4

SecretariatAccredited StandardsCommittee (X9), USA

SecretariatTelekurs, Switzerland

SecretariatAFNOR, France

Version: May 3, 2007

Chairman Jean-Yves Garnier, Natexis Banques Populaires, France

Chairman Mathew Rawlings, JP Morgan, UK SecretariatAPACS, UK

Overview ISO TC68 (Technical Committee 68) and its SCs (Sub-Committees)


SC2 Security and Operations

CFI2

(Classification)ISO 10962

SC7 Core Banking

ISIN1

(Identification)ISO 6166

Data Field Dictionary

ISO 20022

MIC3

ISO 10383

FISN7

ISO FDIS8 18774

AbbreviationsISO FDIS8

18773

BIC4

ISO 9362

IBEI5

ISO CD6 16372

ANNA SWIFT

Registration AuthorityRegistration AuthorityMaintenance AgencySponsor (central/decentral)

In preparation

Otherse.g. NNA

1 International Securities Identification Number2 Classification of Financial Instruments3 Market Identifier Code4 Bank Identifier Code5 International Business Entity Identifier6 Circulated Draft 7 Financial Instrument Short Name 8 Final Draft International Standard

Securities and related financial instruments

SC4

TC68Financial Services

ISO TC68 - Standards


Existing standards ISIN ISIN International securities identification numbering systemInternational securities identification numbering system (ISO (ISO 61666166)) provides a uniform structure for a number, known as theprovides a uniform structure for a number, known as the lSIN, that uniquely identifies fungible financial instruments. Financial lSIN, that uniquely identifies fungible financial instruments. Financial

instruments subject to ISIN allocation include equities, debt instruments subject to ISIN allocation include equities, debt instruments, entitlements (rights and warrants) and other instruments.instruments, entitlements (rights and warrants) and other instruments. At present a At present a revised version of the ISO Standard 6166revised version of the ISO Standard 6166 is in ISO is in ISO voting process (deadline: voting process (deadline: July 15, 2008July 15, 2008))

The ISIN consists of The ISIN consists of

- - a a prefixprefix using the alpha-2 country code using the alpha-2 country code

- the - the basic numberbasic number, which is nine characters in length, which is nine characters in length

- a - a check digitcheck digit

ExampleExample

DEDE00071000000071000000 DaimlerChrysler AG DaimlerChrysler AG


StructureStructure

- The CFI reflects characteristics that are defined when a financial - The CFI reflects characteristics that are defined when a financial instrument is issued and remains unchanged during its entire lifetime. instrument is issued and remains unchanged during its entire lifetime.

- The CFI consists of six alphabetical characters - The CFI consists of six alphabetical characters

- The first character indicates the highest level of classification- The first character indicates the highest level of classification ( (categoriescategories) the second is the ) the second is the groupgroup, and the remaining letters show, and the remaining letters show special special attributesattributes of the group. of the group.

CFICFI Classification of Financial Instruments Classification of Financial Instruments (ISO (ISO 1096210962)) The CFI code system provides a set of codes which can be used by The CFI code system provides a set of codes which can be used by all market participants in an electronic data processing environment all market participants in an electronic data processing environment and permits electronic communication between participants. and permits electronic communication between participants.

New versionNew version is in final ISO voting process is in final ISO voting process

Existing standards


MIC Market Identifier Code (ISO 10383)MIC Market Identifier Code (ISO 10383) specifies a universal specifies a universal method of identifying exchanges, trading platforms and regulatedmethod of identifying exchanges, trading platforms and regulated or non-regulated markets as sources of prices and relatedor non-regulated markets as sources of prices and related information information in order to facilitate automated processing.in order to facilitate automated processing. The code consists of four The code consists of four alphabetical characters. alphabetical characters.

4 Examples4 Examples

The following are examples of exchange/market identifier codes (MIC):The following are examples of exchange/market identifier codes (MIC):

- XPAR (NYSE Euronext - Euronext, Paris)- XPAR (NYSE Euronext - Euronext, Paris)

- XMAT (Euronext – MATIF, Paris)- XMAT (Euronext – MATIF, Paris)

-- XMON (Euronext – MONEP, Paris) XMON (Euronext – MONEP, Paris)

-- EMTS (EuroMTS, London) EMTS (EuroMTS, London)

Regular updates are available via the ANNA homepageRegular updates are available via the ANNA homepage www.anna-web.com www.anna-web.com

Existing standards


FISN Financial Instrument Short NameFISN Financial Instrument Short Name ( (ISO 18774ISO 18774)) has been developed to provide a consistent and uniformhas been developed to provide a consistent and uniform approach toapproach to standardize short names for financial instruments. standardize short names for financial instruments.

The FISN incorporates the issuer short name and the abbreviated The FISN incorporates the issuer short name and the abbreviated characteristics for the financial instrument. It has a maximum length of characteristics for the financial instrument. It has a maximum length of 35 alphanumeric35 alphanumeric characters. characters.

a “a “//” as the ” as the delimiterdelimiter between issuer name and instrument description between issuer name and instrument description

an an instrument descriptioninstrument description with a maximum length of with a maximum length of 19 alphanumeric characters19 alphanumeric characters,, assuming that the available length of the issuer name has been fully used. In the assuming that the available length of the issuer name has been fully used. In the event that all the 15 characters have not been used in the issuer short name, the event that all the 15 characters have not been used in the issuer short name, the remaining space may be used to describe the characteristics of the financial instrument. remaining space may be used to describe the characteristics of the financial instrument.

TThe FISN shall be assigned upon issuance of the related financialhe FISN shall be assigned upon issuance of the related financial instrument together with ISIN (ISO 6166) and CFI (ISO 10962)instrument together with ISIN (ISO 6166) and CFI (ISO 10962)..

an an issuer nameissuer name with a maximum length of with a maximum length of 15 alphanumeric characters15 alphanumeric characters. . To ensure uniformity, the same issuer short name should be used for different To ensure uniformity, the same issuer short name should be used for different financial instruments of the same issuer. financial instruments of the same issuer.

Standards in preparation

The FISN is composed of:The FISN is composed of:-

-

-


IBEI IBEI International Business Entity IdentifierInternational Business Entity Identifier ((ISO 16372ISO 16372)) ISO has developed the IBEIISO has developed the IBEI ffor unambiguous entities identification, or unambiguous entities identification,

in particular with respect toin particular with respect to cross-border business activitiescross-border business activities. . The The IBEI is a standardized code, which is allocated to legal entities IBEI is a standardized code, which is allocated to legal entities

((branches will not get an IBEI)branches will not get an IBEI)..

EExamplexample DEDEXBC823NXBC823N00

Where:Where: DEDE Country code for Germany Country code for Germany

XBC823NXBC823N Basic identifier Basic identifier

00 Check digit computed using modulus 10 “Double-Add Double” Check digit computed using modulus 10 “Double-Add Double”* Vowels are defined as A, E, I, O, U and Y inclusive* Vowels are defined as A, E, I, O, U and Y inclusive

The IBEI consists of 10 characters decomposed as follows:The IBEI consists of 10 characters decomposed as follows:

- - a prefix which is the alpha-2-country-code specified in ISO 3166,a prefix which is the alpha-2-country-code specified in ISO 3166,

- - the basic identifier, made of 7 alphanumeric characters (digits and uppercasethe basic identifier, made of 7 alphanumeric characters (digits and uppercase letters letters to the exclusion of vowels *), andto the exclusion of vowels *), and

- - a check digit, computed using the modulus 10 “Double-Add-Double” formula a check digit, computed using the modulus 10 “Double-Add-Double” formula

The IBEI structure allows identifying up to 21 870 000 000 business entities per country.The IBEI structure allows identifying up to 21 870 000 000 business entities per country.

Standards in preparation


Further information onwww.anna-web.com


Appendix A

ANNA Mission Statement

ANNA (the “Association of National Numbering Agencies”) is ANNA (the “Association of National Numbering Agencies”) is fully committed to proactively promoting, implementing, fully committed to proactively promoting, implementing, maintaining and making available, standards for securities maintaining and making available, standards for securities and related financial instruments, in a uniform and accurate and related financial instruments, in a uniform and accurate structure for the benefit of their home markets and of the structure for the benefit of their home markets and of the securities industry as a whole.securities industry as a whole.


Appendix B

ANNA Abbreviations

ISIN – International Securities Identification NumberANNA – Association of National Numbering AgenciesCFI – Classification of Financial InstrumentsASB AB – ANNA Service Bureau (ASB) Advisory Board (AB)NNA – National Numbering AgencyFISN – Financial Instrument Short NameISO – International Organization for Standardization

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