CDC as National Numbering Agency for Pakistan (NNA)
Association of National Numbering Agencies (ANNA) is the global association of National Numbering Agencies with a mission to provide reliable, accurate and trusted means to identify and describe securities that can be used by all nations and their markets. They have a crucial role in the financial markets of their own nations as well as global markets.
The service bureau at ANNA receives daily reports and updates from member and partner numbering agencies from around the world. It serves as the center point of information dissemination and collection of securities data since 2001.
Being a part of ANNA gives the NNA the opportunity of participating in a global association whose recommendations and decisions can have a direct impact on NNA local markets. Moreover, the NNAs local market & market participants gain more visibility and have easier & faster access to the exchange of ISINs on a global basis.
The NNAs are the primary sources of identification information in their local markets. For the last two decades, CDC serves as the sole National Numbering Agency (NNA) issuing ISINs (International Securities Identification Numbers) to standardize identification of local securities for trading and settlement in the country. Classifying financial instruments in a consistent, structured and standardized way is also beneficial for regulatory reporting requirements.
CDC assigns the ISIN which consists of a total of twelve alpha-numeric characters. The ISIN, is an International Securities Identification Number (ISIN) which is based on ISO 6166 that acts as the identifier for cross-border transactions and is supported and maintained by the recognized global numbering agencies that comprise ANNA.
In Addition to ISIN, CDC also issues FISN & CFI.
The Financial Instrument Short Name (FISN) code has been developed to provide a consistent and uniform approach to standardize short descriptions for financial instruments. The ISO 18774 standard incorporates the issuer short name and the abbreviated characteristics for the financial instrument. It has a maximum length of 35 alphanumeric characters. The total number of FISN assigned to Ordinary, Preference Shares & Right securities are 1289.
A Classification of Financial Instruments (CFI), the CFI code is a six-digit alpha-code which is issued to a group of financial instruments in a consistent manner. The Classification of Financial Instruments (CFI) defines the structure and describes codes for an internationally valid system to classify financial instruments. The total number of assigned CFI are 1,539.
The badge of global association representing Pakistan at ANNA is one of CDC’s many achievements as it continues to maintain its leading position in the country. Collaborating with ANNA allows CDC to continue its journey of progress and innovation while continuously building mechanisms that are pivotal to Capital Market development.