what is an international securities identification number isin 
an international securities identification number isin is a 12 digit alphanumeric code that uniquely identifies a specific security the organization that allocates isins in any particular country is the country s respective national numbering agency nna understanding international securities identification numbers isins an isin is often confused with a ticker symbol which identifies the stock at the exchange level for example according to isin organization ibm common stock is traded on close to 25 trading exchanges and platforms and its stock has a different ticker symbol depending on where it is traded however ibm stock has only one isin for each security the isin code is the only common securities identification number that is universally recognized isins are used for numerous reasons including clearing and settlement 1all internationally traded securities issuers are urged to use the isin numbering scheme which is now the accepted standard by virtually all countries 2 both the united states and canada use a similar scheme known as a cusip number 3isin codes have a total of 12 characters that consist of both letters and numbers these include the country in which the issuing company is headquartered first two digits along with a number specific to the security middle nine digits and a final character which acts as a check 4an example of an isin number for a us company s stock certificate could look like this us 000402625 0 dashes incorporated for simplicity on the other hand a theoretical namibian company could have an isin which appears as na 000k0vf05 4 the middle nine digits of the isin are computer generated in a complex formula these are critical in helping protect against counterfeiting and forgery an isin should not be confused with a ticker symbol which identifies stock at the exchange level a company s security could have more than one ticker symbol depending on the trading platform but the security will have only one isin history of isinsuniversal acceptance of isin allows global straight through processing gstp which is the electronic handling of trade clearing and settlement isins are used to track the holdings of institutional investors in a format that is consistent across markets worldwide isins were first used in 1981 but were not widely accepted until 1989 when the g30 countries recommended their adoption a year later they were endorsed by the international organization for standardization iso in 1994 the global isin access mechanism was created to electronically exchange isin information across regions through a digital information exchange process called giam 2 4the relevant national numbering agency nna in each country issues isins in the united states this is the cusip service bureau established in 1964 the cusip service bureau was created to improve country wide standards for the financial services industry 5in the united states isins are extended versions of 9 character cusip numbers and are formed by adding a two digit country code at the beginning of the cusip number and appending a check digit at its end the international organization for standardization iso 6166 currently defines an isin s structure 6 currently an isin can be assigned to most forms of securities including but not limited to equity shares units and or depositary receipts debt instruments including bonds commercial paper stripped coupons and principal amounts t bills rights and warrants derivatives commodities and currencies 