TC 68/SC 8 resolved in the plenary meeting on May 13, 2019 in Paris to revise the ISIN standard. A committee draft was balloted in TC 68/SC 8 until January 31 and was with a few comments approved. A draft international standard has been submitted by TC 68/SC 8 Committee Manager to ISO Central Secretariat for translation and DIS ballot (expected to be launched on May 6, 2020). Read more....
The main changes of this draft are: clarification that the scope of the standard covers financial instruments as well as referential instruments, addition of new instrument types to which the ISIN code can be allocated (derivative products with EZ and ZZ prefix, baskets, emission allowances and carbon credits, addition of new minimum descriptive elements.
The ISIN was initially conceived more than 35 years ago to solve the problems of delay, mismatches and confusion in cross-border settlements of securities. In October 2017, the ISIN was expanded to cover OTC derivatives. Today ISIN is used as a global standard for unique identification of financial instruments in all assets classes in over 220 countries. Trading, clearing and settlement systems in most countries have adopted ISINs as a primary means of identifying securities. In addition, regulations which impact the global capital markets such as EMIR, MiFID II, CSDR, Prospectus Regulation, Benchmarks Regulation and Solvency II increasingly require the ISIN to be used for reporting purposes.