ISIN (International Securities Identification Number)

What is ISIN and how to search for ISIN of a security in India?

The International Securities Identification Number (ISIN) is a unique 12 digit alphanumeric code allotted to all the financial securities. This 12 digit code follows a fixed universal format and it is therefore recognized all around the world.

The ISIN code should not be confused with the stock symbol or the stock name because these values could change on different trading platforms. A separate number is allocated to all the types of securities, even if they all belong to the same company.

Example: Suppose that a company has listed Equity shares, Non-Convertible Debentures (NCDs) and Preference shares. Then a unique identification number will be allocated to these three securities.

Importance of ISIN

Suppose that a company from India (let us call it COMPANY AA) is listed on multiple stock exchanges.
    The shares could be listed on NSE as ‘COMAA’.
    At the same time, the shares could be listed on BSE as ‘CMPNYAA’.
    And it could also be listed in the USA stock exchange as ‘CYAA’.

In this example, although the name and symbols are different, they still refer to the same tradeable security (Equity of Company AA). Therefore, to avoid confusion and have a common symbol recognized all around the world, a unique identification number is allocated to this security. This unique number will help in:

Structure and format

As mentioned before, the ISIN is a 12-digit alphanumeric number. This means that it can contain both alphabets and numbers. It generally follows the following format:

  • The first 2 digits represent the country code (So, for the Indian securities, it will be IN)
  • The third digit usually represents the type of security (Example: In India, E is for Equity; F is for Mutual fund/ETF etc.)
  • The next 8 digits are the unique code generated for each security
  • The final digit is the ‘check digit’, which is used to verify the accuracy of the previous 11 digits
Sample ISIN in India - International securities identification number

In USA and Canada, the identification number for securities is  called as CUSIP number (Committee on Uniform Securities Identification Procedures). Even though it largely follows similar standards and is also 12 digits in length, it is referred to as CUSIP. Similarly, in United Kingdom (UK) and Ireland, the SEDOL is used for identifying the securities.

Example of a CUSIP number for a US security:
    US-123456ABC-0

How to check ISIN of securities in India?

In India, the National Securities Depository Limited (NSDL) is responsible for allocating the ISIN code to all the securities in the capital market. On the other hand, the Reserve Bank of India is responsible for allocating the number to government bonds and other government securities.

In case the investors would like to know the Identification number of a security, then they can use any of the following ways:

1. NSDL website

This method will perhaps give the most comprehensive list of the securities and their identification number. Investors can look for the companies using the Master Search available on the NSDL website.

An investor should be careful when viewing the results, because an exhaustive list of current and past ISINs (which could now be inactive) will be displayed. Moreover, if a search is done using the company name, then all the securities like Equity, NCDs etc. for the company will be displayed.

Note: Sometimes the ISIN of the company changes after Corporate Actions like Stock Split, Merger, Demerger etc. Therefore, please make sure to check the description, type and status of the security that is being searched for.

2. Stock Exchange website

This is a much easier way to check the current identification number that is being used for the securities of the company. Just follow these steps:

  1. Go to the website of the Stock Exchange on which the security is listed
  2. Enter the company name and type of instrument (Equity, Bond etc.) in the search bar on the website
  3. A new page will open, which is dedicated to the security that has just been entered
  4. Near the name of the company/security, the investor will be able to see the ISIN number of the company

3. Account statement of the Demat Account

By using the below-mentioned sources, it is possible to check the ISIN of the securities that are held by the investor.

On the website of the Stock Broker
Usually, the brokerages display it in the Portfolio Statement or the Holdings statement or the Contract Notes that are sent to the investor.

In the Demat Account statements
Even if the website of the Stock Broker does not display the ISIN or if the broker is an Offline Broker, then it is still possible to check the identification number by logging into the Demat Account, directly on CDSL or NSDL website.

These Depositories also include the International Securities Identification Number of the holdings of the investor, when they send the monthly portfolio statement and the Consolidated Account Statements.

ISIN vs LEI

Another popular idea is to allocate a unique identifier to all legal entities that are operating in a region. This is known as the Legal Entity Identifier (LEI) and it is a 20-digit alphanumeric code that is assigned to entities like Companies, Partnerships, Real Estate Investment Trusts (REITs) etc.

The major difference between ISIN and LEI is that the LEI is used for identifying the legal entities, whereas the ISIN is used for indicating the financial instruments that have been issued by these entities.

So, these two codes are used together, because there could be multiple securities mapped to one LEI. For example, when 1 company has different category of shares, then the ISIN for each category of shares will be linked to the LEI of that company.

Disclaimer

  • This page is for education purpose only
  • Some information could be outdated / inaccurate
  • Investors should always consult with certified advisors and experts before taking final decision
  • Some images and screenshots on this page might not be owned by FinLib

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