ISIN and CFI codes allocation

NSD – NNA for Russia: News and Events

24.11.09

Detailed explanation of the procedure for the assignment of ISIN codes to additional share issues

Requests from our clients for clarification of the terms and procedure in the assignment of ISIN codes to additional share issues are being sent to “The National Depository Center” (Closed Joint Stock Company) (NDC).
In this respect in addition to a letter to participants #AE-11/7690 dated 12 October, 2009, and a press release distributed by NDC on 13 October, 2009, herewith we answer questions frequently asked by our clients.
The procedure for assignment of ISIN codes to additional share issues put into effect on 12 October, 2009, involves the following terms:

  1. Separate ISIN codes are to be assigned to additional share issues with the state registration number assigned in accordance with Section 3 of the Procedure for Assignment of State Registration Numbers to Issues (Additional Issues) of Equity Securities approved by the Federal Financial Markets Service (Order # 07-23/pz-n dated 13 March, 2007).

    We direct your attention to the following information:

    • State registration number of such additional share issue should include a state registration number for its principal share issue and a separate number (code) for the additional share issue.
    • An ISIN code assigned to an additional share issue exists simultaneously with ISIN code assigned to its principal share issue and is used for identification of the additional share issue until cancelation of the separate number (code) of the additional share issue.
    • An ISIN code assigned to an additional share issue will be canceled upon receipt of official notification of cancellation of an separate number (code) of the additional share issue in accordance with Federal Financial Markets Service (FFMS) Order # 07-23/pz-n dated 13 March, 2007, and with FCSM's Order about Reflection of Integration of Additional Share Issues in Accounting System and Cancellation of Separate Numbers (Codes) of Additional Share Issues #03-28/ps dated 22 May, 2003.
    • After cancellation of the ISIN code of an additional share issue whose separate number (code) was cancelled too, the shares of that issue should be identified through ISIN of its principal share issue.
    • The degree to which assignment of separate ISIN codes to such additional share issues is obligatory is determined by the nature of these additional share issues. They provide the same rights as principal share issues, but additional share issues' circulation period on the financial market is limited and within this time interval there is a risk of their cancellation in the event they are declared invalid in accordance with Russian legislation.
  2. Separate ISIN codes are not to be assigned to additional share issues which did not pass the procedure of integration of additional issues in compliance with the Procedure of Integration of Additional Issues of Equity Securities approved by FCSM's Order #03-18/ps dated 1 April, 2003.

    We direct your attention to the following information:

    • The state registration number of such an additional share issue differs from the state registration number of its principal share issue
    • Such an additional share issue provides the same rights as its principal share issue; it does not have limitations in circulation against the principal share issue. Thus such additional share issue is identified with the same ISIN code as its principal share issue.
  3. NDC began assigning separate ISIN codes to additional share issues specified in Paragraph 1 of this letter after receipt of an official clarification from the Board of Directors of the Association of National Numbering Agencies (ANNA) and from the ANNA Service Bureau Advisory Board which controls a procedure of ISIN code creation and upload them into international database of ANNA. The ANNA Boards and ANNA Service Bureau Advisory Board confirmed that the assignment of ISIN codes to Russia's additional share issues is acceptable and complies with international standards, and that separate ISIN codes can be used for identification of these additional share issues until they are fungible with their principal share issues.

  4. Bloomberg, an information and research company, as a client of ANNA, is receiving information about assigned, deleted or changed international codes from the ANNA international database on daily basis. NDC has not received information on any procedure and terms of an update of the codes in the Bloomberg system.

  5. On 12 October, 2009 NDC assigned ISIN codes to additional share issues which were served by NDC and corresponded to the requirements specified in the Paragraph 1 of this letter. The same day NDC began assigning separate ISIN codes to new additional share issues corresponding to the requirements specified in the Paragraph 1 of this letter, and also began using these ISIN codes as NDC code for these issues in NDC depository system.

  6. Since 12 October, 2009 NDC has been receiving Russian market participants' applications for the assignment of ISIN codes to additional share issues corresponding to the requirements specified in Paragraph 1 of this letter.

  7. Information about the assigned ISIN codes is posted in the section "ISIN Allocation News" and in a specialized database on ISIN codes assigned to Russian financial instruments on www.isin.ru. Information on the procedure and rules of the assignment is available at www.isin.ru in a section "Russian Financial Instruments".


For further information about NDC: www.ndc.ru, or NDC Public Affairs Division: +7 495 232 0910, pr@ndc.ru

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