Financial Data Standards | SIX (original) (raw)
Overview
Driving Global Data Standardization
Standardized financial data helps global financial markets to set up more efficient processes, interact systematically and fulfil regulatory reporting obligations.
SIX plays an active role in the standardization of financial data by either driving standardization initiatives or executing official standardization mandates. SIX also provides financial markets with standardized financial information. In addition, SIX acts as a provider of registration services. As the maintenance agency secretariats for the standards CFI, ISIN and the Currency Code, SIX ensures that data standards stay up to date.
It is our continuous ambition to drive best practices in the area of data standards and set clear guidelines for the entire industry. Together with strong partners around the globe we are working toward a common goal: making the work with financial data easier for everyone.
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National Numbering Agency
In cases when a data standard requires frequent modification or the maintenance of a code list or when a standard requires the assignment of unique identifier, a maintenance agency or a registration authority may be appointed.
SIX is a National Numbering Agency (NNA) and member of ANNA. In this role SIX registers new instruments and issues a related unique International Securities Identification Number (ISIN), Financial Instrument Short Name (FISN) and a Classification of Financial Instruments (CFI).
Our Services as a National Numbering Agency
Maintenance Agency
In cases when a data standard requires frequent modification or the maintenance of a code list (based on the “recipe” provided in the standard) or when a standard requires the assignment of unique Identifier it may be decided that a maintenance agency or a registration authority is required.
The Swiss Association for Standardization (SNV) is the appointed Maintenance Agency Secretariat for the ISO 4217 – Currency Codes standard and the ISO 10962 – Classification of Financial Instruments (CFI) standard. SNV has delegated the related responsibilities to SIX.
Our Services as Maintenance Agency CFI Code
ISO 10962 - CFI Maintenance : Get a CFI Code
We Maintain and Update the CFI Code
The ISO 10962 Classification of Financial Instruments (CFI) standard is a recognized standard for describing all financial instruments. It is recognized world-wide by all operators and computer systems in the financial and banking industries. The term "financial instruments" refers not only to classical securities and derivatives but also covers the innovative financial products that have emerged in different markets.
The six-letters-code describes the structure and function of each financial instrument in a consistent way. The code is defined when a financial or referential instrument is issued and remains unchanged during its entire life. However, events such as the changing of voting rights or ownership restrictions decided at a stockholder’s meeting can cause a CFI code to change.
As the maintenance agency for the CFI code, SIX is responsible for managing the modifications and enhancements of the code list. SIX is also responsible for publishing updates in a human- and machine-readable data formats like spreadsheets, pdf, csv, json-lD, ttl).
Modifications
Our Services as a Maintenance Agency Currency Code
ISO 4217 - Currency Code Maintenance: Get the Correct Currency Code
We Maintain and Update the Currency Code
Currency codes of the International Standard ISO 4217 are important in any information technology application related to trade, commerce and banking, as well as in the public sector. SIX Financial Information AG is the official Maintenance Agency of these currency codes under ISO 4217 and as such the only recognized, authoritative source on currency code designations. SIX provides these currency code services on behalf of the International Organization for Standardization (ISO) and its Swiss member SNV (Swiss Association for Standardization). We maintain the code lists, update them and make them available online and free of charge.
Current and Historical Lists
Amendments
Effective from 25 June 2024, the following change will be made to “List one: Currency, fund and precious metal codes”:
| Entity | Currency | Alphabetic code | Numeric code | Minor unit |
|---|---|---|---|---|
| ZIMBABWE | Zimbabwe Gold | ZWG | 924 | 2 |
The monetary authority of Zimbabwe (Reserve Bank of Zimbabwe) has confirmed that the new currency ZWG will replace the old currency ZWL. The name of the new currency ZWG will be Zimbabwe Gold with new numeric code 924 and is effective from 25 June 2024.
The old currency ZWL and new ZWG run two months concurrently. Zimbabwe Dollar ZWL will expire on 31 August 2024. Furthermore, the exchange rate between new ZWG and old ZWL currency will be: 1:2498.7242 (ZWG:ZWL). The Zimbabwe Gold will have two (2) minor units.
Effective from 1 September 2024, the following change will be made to “List three: Codes for historic denominations of currencies and funds”:
| Entity | Currency | Alphabetic code | Numeric code | Minor unit |
|---|---|---|---|---|
| ZIMBABWE | Zimbabwe Dollar | ZWL | 932 | 2 |
Changes to the currency codes lists occur if a currency is created, withdrawn or parts thereof altered.
News
Update: ISO 24165 for Digital Token Identifiers (DTI)
Currently, ISO is developing a new standard for digital assets that will be published at the end of September: ISO 24165 on Digital Token Identifiers (DTI). Read the news by ISO (News 1 & News 2)
The scope of DTI issuance covers all fungible digital assets which use distributed ledger technology for their issuance, storage, exchange, record of ownership, or transaction validation and are not a “fiat” currency (as defined by ISO 4217). This also includes digital currencies such as Bitcoins.
Some DTIs have already been assigned based on the draft DTI standard as part of a soft launch. Go to the DTIF Registry Search.
Market Expertise from SIX and Standardization Mandates
By using standardized financial information, global financial markets can make their processes more efficient, fulfill regulatory reporting obligations and achieve higher data quality, amongst other things.
SIX provides market expertise in national and international groups for more efficient business, beneficial regulations and customer focused products and services. In some committees SIX has the strategic leadership and the official mandate. SIX is a member of ASB (ANNA Service Bureau), and chairs the ISO Reference Data Sub-Committee and the DSB (Derivative Service Bureau).