Iso 10962

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ISO 10962

ISO 10962 defines the structure and format for classification of financial instruments approved by the International Organization for
Standardization (ISO). There are many types of Financial Instruments used for saving, investing, trading, hedging and speculating.
These instruments are generally organized in groups called "asset classifications." The most common asset classifications are
generally described using terms like "Equities (Stocks)," "Debt (Bonds)," "Derivatives (Contracts)," "Currencies," and a few other
generalized terms.

ISO 10962 provides a global standard for these classifications in the form of specific codes. Classification of financial instrument
(CFI) Code is used to define and describe financial instruments as a uniform set of codes for all market participants.[1] The code is
issued by the members of ANNA, the Association of National Numbering Agencies. The group is currently working to simplify the
structure so that it can be adopted more widely by non-governmental market participants.

The letters from the ISO basic Latin alphabet in each position of this 6 character code reflect specific characteristics intrinsic to the
financial instruments that are defined at the issue of the instrument, and which in most cases remain unchanged during the lifetime of
[2]
the instrument (or by the market on which the instrument trades).

Contents
History of ISO 10962 Modification
Background and Goals of Introduction
Structure of CFI Code
Table of CFI Code Construction
Sample of Main CFI Classifications
Existing Possible Values
See also
References
External links

History of ISO 10962 Modification


Standard was first accepted and published in 1997
The last revised and accepted version of the standard is ISO 10962:2015 and was published by ISO in 2015. [3]

In 2006 FIX Protocol group published a proposal for changes of the standard for Consultation, but the changes have
not yet been accepted.[2]
As of May 17, 2013 an update of the standard is under development[4]

Background and Goals of Introduction


Where distinct entities transact it is seen as helpful to establish a common transaction language. The CFI code is meant to provide the
most comprehensive information possible, while at the same time maintaining the code manageability, provides a standard for
identification of type of instrument and their main high level characteristics, determined by the intrinsic characteristics of the
financial instrument, which would be independent of the individual names or conventions of a given country or financial institution.
This principle avoids confusion arising from different linguistic usage as well as redundancy, while allowing an objective comparison
of the instruments across markets.[2]
CFI codes also aim to simplify electronic communication between participants, improve understanding of the characteristics of
financial instruments for the investors, and allow securities grouping in a consistent manner for reporting and categorization
purposes.[1]

Structure of CFI Code


The first character indicates the highest level of category to which the instrument belongs: Equities, Debt,
Entitlements (Rights, Warrants), Options, Futures and Others (Miscellaneous).[5]
The second character refers to specific groups within each category . For example, the subdivisions of the Equities
category are: ordinary shares, preferred/preference shares, units, and others, while for the Debt instruments
category, the subdivisions are: bonds, convertible bonds, money market instruments, and others. [5]

The other four characters refer to each group's main features. For example, in the case of equities, whether they are
voting or non-voting, restrictions, payment status, etc. In the case of Debt instruments, the type of interest (fixed or
variable), guarantee, form of redemption, etc.[5]
The letter X always means Not Applicable/Undefined.

Table of CFI Code Construction


Classification of Financial Instruments
Attribute
Category Group Attribute 1 Attribute 2 Attribute 4 Code
3
D = Debt (D-*-*-
Instruments *-*-*)
(D-B-
F - Fixed
B - Bonds *-*-*-
interest rate
*)
(D-C-
C - Convertible V - Variable
*-*-*-
Bonds interest rate
*)
(D-M-
X - Not
M - Miscellaneous *-*-*-
available
*)
(D-T-
T - Medium-term Z - Zero
*-*-*-
notes interest rate
*)
(D-W-
W - Warrants
*-*-*-
attached to bonds
*)
(D-Y-
Y - Money market
*-*-*-
instruments
*)
(E-*-*-
E = Equities
*-*-*)
(E-S-
Payment
S - Shares Voting Right Ownership Form *-*-*-
Status
*)
(E-S-
E = Enhanced
E-*-*-
voting
*)
N = Non- (E-S-
voting N-*-*-
*)
R= (E-S-
Restricted R-*-*-
voting *)
(E-S-
V = Voting V-*-*-
*)
(E-S-
T=
*-T-*-
Restrictions
*)
(E-S-
U = Free *-F-*-
*)
(E-S-
F = Fully
*-*-F-
paid
*)
(E-S-
O = Nil
*-*-O-
paid
*)
P= (E-S-
Partly *-*-P-
paid *)
(E-S-
A = Registered
*-*-*-
depository receipt
A)
(E-S-
B = Bearer *-*-*-
B)
(E-S-
N=
*-*-*-
Bearer/Registered
N)
(E-S-
R = Registered *-*-*-
R)
(E-S-
Z = Bearer
*-*-*-
depository receipt
Z)

Sample of Main CFI Classifications


E Equities D Debt Instruments
ES Shares DB Bonds
EP Preferred shares DC Convertible bonds
ER Preference shares DW Bonds with warrants attached
EC Convertible shares DT Medium-term notes
EF Preferred convertible shares DY Money market instruments
EV Preference convertibles shares DM Others (Miscellaneous)
Units, i.e. unit trusts/mutual
EU
funds/OPCVM/OICVM
R Entitlements (Rights) O Options
RA Allotment rights OC Call options
RS Subscription rights OP Put options
RP Purchase rights OM Others
RW Warrants
RM Others
F Futures M Others (Miscellaneous)
FF Financial futures MR
Other assets (Miscellaneous), e.g. Real Estate,
FC Commodities futures MM
Insurance Policies

Existing Possible Values


E = Equities

S = Shares (common/ordinary)

1: Voting Right

V = Voting
N = non Voting (svir)

2: Ownership/transfer restrictions

T = Restrictions
U = Free
3: Payment status

O = Nil paid
P = Partly paid
F = Fully paid
4: Form:

B = Bearer
R = Registered
N = Bearer/Registered
Z = Bearer depository receipt
A = Registered depository receipt
P = Preferred Shares
R = Preference Shares
C = Convertible shares
F = Preferred convertible shares
V = Preference convertible shares
U = Units (units trusts/mutual funds)
M = Others
D = Debt Instruments

B = Bonds
C = Convertible bonds
M = Others
T = Medium-term Notes
W = Bonds With Warrants Attached
Y = Money Market Instruments
R = Entitlements (Rights)

A = Allotment Rights
M = Others (Miscellaneous)
S = Subscription rights
W = Warrants
O = Options

C = Call Options

1: Exercise Style

A = American
E = European
2: Underlying Asset

S = Stock
I = Index
D = Debt
C = Currency
O = Option
F = Future
T = Commodity
W = Swap
B = Basket
M = Other
3: Delivery

C = Cash
P = Physical
4: Standard/Non-standard

S = Standard
N = Non-standard
P = Put Options

Same as Call
M = Others Options

Same as Call
F = Futures[6]

C = Commodities Futures

1: Underlying Asset

A = Agricultural
E = Extraction
I = Industrial
S = Service
2: Delivery

C = Cash
P = Physical
3: Standard/Non-standard

S = Standard
N = Non-standard
4: not used

X = not used
F = Financial Futures

1: Underlying Asset

S = Stock
I = Index
D = Debt
C = Currency
O = Option
F = Future
W = Swap
B = Basket
M = Other
2: Delivery

C = Cash
P = Physical
3: Standard/Non-standard

S = Standard
N = Non-standard
4: not used

X = not used
M = Others (Miscellaneous)

M = Other Assets (Miscellaneous)


R = Referential Instruments

1: Further grouping

C = Currencies
T = Commodities
R = Interest Rates
I = Indices

Example:

ESNTPB is Equities/Shares/Non-voting/Restrictions/Partly paid/Bearer


ESXXXX is Equities/Shares (no more details)
OPASPS is Options/Put/American/Stock/Physical/Standard
FFIXXX is Futures/Financial/Index
FXXXXX is Futures (no more details)
RWXXXX is Rights/Warrant (no more details)

See also
Capital Market Taxonomy
Central Index Key
CUSIP
ISO 6166
ISO 10383
ISO 20022
International Securities Identifying Number
NSIN
FIX Protocol newsletterdescribing the options and futures CFI codes

References
1. "CFI & ISO 10962 on ANNA website"(http://www.anna-web.org/standards/cfi-iso-10962). Association of National
Numbering Agencies (ANNA). Retrieved 30 July 2013.
2. "Securities and related financial instruments — Classification of Financial Instruments (CFI code) – [Revision of ISO
10962:2001]" (http://www.fixprotocol.org/documents/3079/N_635_ISO_CD10962_2006.pdf)(PDF). FIX Protocol
association (FPL). Retrieved 30 July 2013.
3. "ISO 10962:2015" (https://web.archive.org/web/20170302082529/https://www .iso.org/standard/44799.html).
International Organization for Standardization (ISO). Archived fromthe original (https://www.iso.org/standard/44799.
html) on 2017-03-02.
4. "ISO/CD 10962" (http://www.iso.org/iso/catalogue_detail.htm?csnumber=44799). International Organization for
Standardization (ISO). Retrieved 30 July 2013.
5. "CFI Code description on CNVM site"(http://www.cnmv.es/portal/ANCV/CodigoCFI.aspx?lang=en). The Comisión
Nacional del Mercado de Valores (CNVM). Retrieved 30 July 2013.
6. "2006 Revision to ISO 10962"(https://web.archive.org/web/20141210085231/http://www .fixtradingcommunity.org/mo
d/file/view.php?file_guid=43074). Archived from the original (http://www.fixtradingcommunity.org/mod/file/view.php?fil
e_guid=43074) on December 10, 2014. Retrieved February 4, 2015.

External links
QuantHouse CFI Code composerHelper to decode/craft ISO 10962 values.
ISIN Assistance

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This page was last edited on 17 March 2018, at 19:22(UTC).

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