BS ISO 18774-2015 Securities and related financial instruments Financial Instrument Short Name (FISN)《证券及相关金融工具 金融工具简称 (FISN)》.pdf

1、BSI Standards PublicationBS ISO 18774:2015Securities and related financialinstruments FinancialInstrument Short Name (FISN)BS ISO 18774:2015 BRITISH STANDARDNational forewordThis British Standard is the UK implementation of ISO 18774:2015.The UK participation in its preparation was entrusted to Tech

2、nicalCommittee IST/12, Financial services.A list of organizations represented on this committee can beobtained on request to its secretary.This publication does not purport to include all the necessaryprovisions of a contract. Users are responsible for its correctapplication. The British Standards I

3、nstitution 2015. Published by BSI StandardsLimited 2015ISBN 978 0 580 86057 7ICS 03.060Compliance with a British Standard cannot confer immunity fromlegal obligations.This British Standard was published under the authority of theStandards Policy and Strategy Committee on 30 November 2015.Amendments

4、issued since publicationDate T e x t a f f e c t e dBS ISO 18774:2015 ISO 2015Securities and related financial instruments Financial Instrument Short Name (FISN)Valeurs mobilires et instruments financiers connexes Nom court de linstrument financier (FISN)INTERNATIONAL STANDARDISO18774First edition20

5、15-11-01Reference numberISO 18774:2015(E)BS ISO 18774:2015ISO 18774:2015(E)ii ISO 2015 All rights reservedCOPYRIGHT PROTECTED DOCUMENT ISO 2015, Published in SwitzerlandAll rights reserved. Unless otherwise specified, no part of this publication may be reproduced or utilized otherwise in any form or

6、 by any means, electronic or mechanical, including photocopying, or posting on the internet or an intranet, without prior written permission. Permission can be requested from either ISO at the address below or ISOs member body in the country of the requester.ISO copyright officeCh. de Blandonnet 8 C

7、P 401CH-1214 Vernier, Geneva, SwitzerlandTel. +41 22 749 01 11Fax +41 22 749 09 47copyrightiso.orgwww.iso.orgBS ISO 18774:2015ISO 18774:2015(E)Foreword ivIntroduction v1 Scope . 12 Normative references 13 Terms and definitions . 14 Conventions and principles . 15 Structures of the instrument descrip

8、tion . 25.1 General . 25.2 Debt . 25.3 Equity 35.4 Entitlements 35.5 Derivatives 35.6 Structured Products . 45.7 Referential Instruments 45.8 Others 46 Responsibilities of the Registration Authority (RA) 56.1 General . 56.2 Allocation of Financial Instrument Short Names 56.3 Application for FISN . 5

9、6.4 Service provision . 57 Information and enquiries . 5Annex A (informative) Examples of Financial Instrument Short Names 6Bibliography .12 ISO 2015 All rights reserved iiiContents PageBS ISO 18774:2015ISO 18774:2015(E)ForewordISO (the International Organization for Standardization) is a worldwide

10、federation of national standards bodies (ISO member bodies). The work of preparing International Standards is normally carried out through ISO technical committees. Each member body interested in a subject for which a technical committee has been established has the right to be represented on that c

11、ommittee. International organizations, governmental and non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely with the International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.The procedures used to develop this document

12、 and those intended for its further maintenance are described in the ISO/IEC Directives, Part 1. In particular the different approval criteria needed for the different types of ISO documents should be noted. This document was drafted in accordance with the editorial rules of the ISO/IEC Directives,

13、Part 2 (see www.iso.org/directives).Attention is drawn to the possibility that some of the elements of this document may be the subject of patent rights. ISO shall not be held responsible for identifying any or all such patent rights. Details of any patent rights identified during the development of

14、 the document will be in the Introduction and/or on the ISO list of patent declarations received (see www.iso.org/patents).Any trade name used in this document is information given for the convenience of users and does not constitute an endorsement.For an explanation on the meaning of ISO specific t

15、erms and expressions related to conformity assessment, as well as information about ISOs adherence to the WTO principles in the Technical Barriers to Trade (TBT), see the following URL: Foreword Supplementary information .The committee responsible for this document is ISO/TC 68, Financial services,

16、SC 4, Securities and related financial instruments.iv ISO 2015 All rights reservedBS ISO 18774:2015ISO 18774:2015(E)IntroductionThe Financial Instrument Short Name (FISN) code has been developed to provide a consistent and uniform approach to standardize short descriptions for financial instruments.

17、 It aims to harmonize existing market practices which are in use on a national and individual entity level.With the growth of cross-border trading, the requirement to improve communication of information among market participants has become critical. A worldwide implementation of Straight Through Pr

18、ocessing in the securities business requires the use of complementary standardized data elements. For instance, ISO 6166 (ISIN) and ISO 10962 (CFI) are key information elements for identifying and classifying financial instruments, and FISN aids human-readability.The market players of the securities

19、 industry usually report on securities transactions by using short descriptions of the involved financial instruments. Currently, market data vendors, banks and securities exchanges describe financial instruments in their databases using their own short names. The names vary in length and also with

20、regard to the attributes composing them and their sequence. The fact that they are defined in local languages limits their use to the local area.Besides the requirements of Straight Through Processing there are other developments which make the use of standardized short names an urgent issue such as

21、 the internet technology which has allowed the growth of e-issuing, e-trading and e-settlements. The prices reported on websites are usually accompanied by short names of the involved securities. Screens limit the space available for the different data elements displayed and especially for short nam

22、es. Therefore, a standardization of the short names length, structure and contents will be a benefit for communication and processing purposes. In addition, the retail investor is more likely to identify his securities by using the instrument short name, rather than any identification number.The sol

23、ution envisaged consists of using a standard maximum length as well as a standardized structure of the field. The issuer short name which builds the first element (beginning from the left) is followed by a set of characteristics of the financial instrument.The development of these codes will encoura

24、ge market participants to take advantage of other ISO standards, particularly ISINs (ISO 6166) and Securities Messages to simplify the communication process among market participants and increase the efficiency, reliability, data consistency and transparency of financial services transactions and re

25、ference data. Describing financial instruments in a structured and standardized way could also be beneficial for regulatory reporting.The improved identification of financial instruments will lead to a better understanding by investors, giving them more confidence to make investment decisions and le

26、ading to more active markets. This, in turn, will result in improved market liquidity. ISO 2015 All rights reserved vBS ISO 18774:2015BS ISO 18774:2015Securities and related financial instruments Financial Instrument Short Name (FISN)1 ScopeThis International Standard defines and describes rules for

27、 an internationally valid system for building short names of any kind of financial instrument within a defined structure.This International Standard is intended for use in any application in the trading and administration of securities globally.The FISN has been developed after taking into account t

28、he need of human-readability as well as interoperability with existing standards and systems.2 Normative referencesThe following documents, in whole or in part, are normatively referenced in this document and are indispensable for its application. For dated references, only the edition cited applies

29、. For undated references, the latest edition of the referenced document (including any amendments) applies.ISO/IEC 8859-1, Information technology 8-bit single-byte coded graphic character sets Part 1: Latin alphabet No. 13 Terms and definitionsFor the purposes of this document, the following terms a

30、nd definitions apply.3.1issuer short nameabbreviation of the official issuer name, limited to a maximum of 15 alphanumeric characters3.2abbreviation of securities termsshort version of terms used in the securities business processes, specifically in bank reports, pricing, instructions, event notific

31、ations, etc.3.3instrument descriptioncollection of characteristics and attributes defining a financial instrument4 Conventions and principlesThe FISN has a maximum length of 35 alphanumeric characters as specified in ISO 8859-1. In order to create FISNs that fit into the defined maximum length, cert

32、ain terms need to be abbreviated. Rules and guidelines are provided to specify the data elements, sequence, delimiters and punctuation related to the FISN. It consists of abbreviations of securities terms and issuer names which are necessary components of the FISN structure. The Registration Authori

33、ty (RA) for this International Standard is responsible for the allocation and maintenance of the abbreviations list.The FISN is composed of the following: issuer short name with a maximum length of 15 alphanumeric characters. In the case of collective investment vehicles and derivatives, the issuer

34、short name can be extended beyond 15 alphanumeric characters up to the maximum length of the FISN (see 5.3 and 5.5);INTERNATIONAL STANDARD ISO 18774:2015(E) ISO 2015 All rights reserved 1BS ISO 18774:2015ISO 18774:2015(E) “/” as the delimiter between the issuer short name and the instrument descript

35、ion, abbreviations forming the FISN must be separated by blanks where required; instrument description with a maximum length up to 19 alphanumeric characters, assuming that the available length of the issuer short name has been fully used including the delimiter (“/”). In the event that all characte

36、rs have not been used in the issuer short name, the remaining space may be used to describe the characteristics of the financial instrument.In the event that only preliminary information is available, the abbreviation shall be distributed and updated as more complete information becomes available.EX

37、AMPLE News America Inc. 7.3 % Debenture 199830.4.2028 Guaranteed Senior, ISIN US652482AJ95.News Amer/7.3 Deb 20280430 Sr GtdIssuer short name(max. 35)Interest rate/Type + Abbreviated instrument type description + Maturity date + Rank + Pool number + Class + Series + Tranche + Trust + Program + Guara

38、ntee + RestrictionsSeparative blanksInstrument description Delimiter between the issuer short name and the instrument descriptionFigure 1 FISN example5 Structures of the instrument description5.1 GeneralFor the purposes of this International Standard, the following structures reflect all possible at

39、tributes as being potential components per type of financial instrument. In most cases, not all of them will apply to the same instrument. However, the indicated sequence shall be applied.5.2 DebtFor debt groups the sequence of the components considered critical will be as follows:Interest rate/Type

40、 + Abbreviated instrument type description + Maturity date + Rank + Pool number + Class + Series + Tranche + Trust + Program + Guarantee + Restrictions.EXAMPLE If the security type description has two characters left, and the next component in the sequence is “Rank”, then this component is incorpora

41、ted within the financial security short name structure to allocate a maximum of 35 characters. If the information relating to “Rank” does not exist, then “Pool number” will be used accordingly.2 ISO 2015 All rights reservedBS ISO 18774:2015ISO 18774:2015(E)Interest rate/Type will consist of the inte

42、rest rate, which could be either numeric or alphanumeric. The percent sign will not be included. The decimal point will be used in the interest rate.The abbreviated instrument type description will be in accordance with the abbreviations list.Maturity date will consist of eight characters, which wil

43、l include YYYYMMDD. In the event that the security is perpetual, the associated abbreviation will be used.5.3 EquityEquity groups shall have the following structure and sequence of components that are critical for equity securities:Shares: Abbreviated instrument type description + Non-voting + Class

44、 + Series + Partly paid + Restrictions + Par value.Depository receipts: Abbreviated instrument type description e.g. S (for Sponsored) ADR (American Depository Receipt), GDR (Global Depository Receipt), etc. + Restrictions.Depository shares: Abbreviated instrument type description + Class + Series.P

45、referred/Preference shares: Interest rate/Dividend amount + Characteristics (Cumulative, Convertible, Exchangeable, Redeemable) + Abbreviated instrument type description (Preference, Preferred, Preferred share of beneficial interest) + Class + Series.Collective investment vehicles: Abbreviated instr

46、ument type description + Class + Series + Currency.The Class/Series/Currency characteristics must be included in case they exist and are relevant. In the event that they do not exist, the remaining space may be used for the issuer short name up to the maximum length of the FISN.The issuer short name

47、 will consist of the collective investment vehicle name.Limited partnership: Abbreviated instrument type description + Nil/Partly/Fully paid + Class + Series + Currency.5.4 EntitlementsFor entitlements, the sequence of the components considered critical will be as follows:Rights: Abbreviated instrum

48、ent type description + Expiration date (YYYYMMDD) + Nil/Fully paid + Underlying (limit issuer name, commodity, index, currency, etc. to six characters).In the event that the underlying issuer is the same as the issuer of the rights, the issuer name should not appear in the instrument description.War

49、rants: Warrant type (for instance: Call or Put, using the appropriate abbreviation) + Abbreviated instrument type description + Underlying (limit issuer name, commodity, index, currency, etc. to six characters) + Strike price + Expiration date (YYYYMMDD) + Class + Restriction.In the event that the underlying issuer is the same as the issuer of the warrants, the issuer name should not appear in the instrument description.5.5 DerivativesIn the event that all characters have not been used to describe the characteristics of the derivative ins