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Screenshot of a breaking news alert e-mail from Q2 2017
National Settlement Depository (NSD), acting in compliance with ISO 18774, announced that it has started assigning FISNs (Financial Instrument Short Names) to securities and related financial instruments.
ISO 18774 is an international standard which establishes a universal approach to reflecting the short descriptions of financial instruments based on unified rules and format.
FISN is one of the mandatory reporting elements used on trading sites, including European ones, in accordance with the new European law (MiFID II/MiFIR), which is to come into effect 3 January 2018. Pursuant to MiFID II/MiFIR, FISNs of financial instruments which are circulated on the European market shall be added to reports, regardless of the country in which an issuer is registered.
The code visually identifies financial instruments; this identification can be used in all settlement and trading systems. It is assigned alongside ISIN and supplements a machine-readable CFI to increase identification reliability.
FISN consists of 35 symbols, which include an issuer’s name (15 alpha-numeric characters) and an instrument’s description (19 alpha-numeric characters, or more if the issuer’s name is less than 15 characters) separated by a slash (“/”).
To meet the Association of National Numbering Agencies’ requirements, NSD has begun issuing FISNs for new financial instruments and has assigned appropriate codes to all financial instruments which are circulated on the market with ISINs assigned by NSD, as Russia’s national numbering agency and the substitute numbering agency for CIS countries.