Clearstream Banking updates CFI codes
Clearstream Banking1 would like to inform customers that the updated Classification of Financial Instruments (CFI) codes to the new standard (ISO 10962:2015) will be introduced on
10 July 2017
to be aligned with the recommendations of the Association of National Numbering Agencies (ANNA) which set a global start date for implementation of the new version of CFI standards for all National Numbering Agencies.
Clearstream Banking, as National Numbering Agency (NNA) in Luxembourg, assigns the CFI codes to the ISINs with LU and XS prefixes.
On10 July 2017, CFI codes on existing securities will be updated to the new standard and from this date, the CFI codes on new securities will be assigned following the new standard.
Customers can find the CFI code for an instrument via the Clearstream website (https://codelist.clearstream.com), Xact Web Portal and CreationOnline and alternatively via the ANNA service bureau (ASB) website.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
Background
The CFI code classifies financial instruments via a set of common descriptive terms, facilitating asset-class groupings. The CFI code is part of the reference data information of T2S and specified in various regulatory mandates such as MiFID II regulation and European Central Securities Depositories Regulation (CSDR).
The assignment of the CFI codes together with the allocation of the ISIN codes lies with the National Numbering Agencies. The CFI standards are defined by ISO, while the allocation rules are defined by ANNA via guidelines.
Main changes
The structure of the CFI code remains unchanged; it consists of six alphabetical characters with the first character indicating the category (for example equities, debt instruments) and the second character indicating specific groups within each category. The third to sixth character indicate the most important attributes to each group.
Among the changes to the updated CFI code is a dedicated new category for Collective Investment Vehicles and new groups for Depository Receipts.
Whenever the information to derive the CFI code properly is unknown, not available or not applicable, the default or other appropriate values will be assigned as per standards.
The changes will be applicable to the new and existing ISINs having LU and XS prefixes, if created by Clearstream Banking Luxembourg S.A.2
For the additional information about ANNA and CFI standards, please refer to the external links.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
---------------------------------------------
1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248
2. Clearstream and Euroclear Bank are sharing the NNA role for the XS ISINsThe update of CFI standards for the XS ISINs allocated by Euroclear Bank are subject to a migration schedule proper to Euroclear Bank. The ASB website provides the CFI for both XS ISINs and those generated under new standards will be flagged Y in the field CFI version 2015.