Standardizing Standards

IRD: What can be done to increase harmonization of instrument identification codes?

Karin De Ridder: Swift is not directly involved in the standardization of financial instrument identifiers, although we do recommend that the ISIN ISO standard be used as the primary identification number for a security in the Swift securities messages. The fact that more and more industry initiatives, such as the Markets in Financial Instruments Directive (MiFID) and Target2Securities, recommend the ISIN will