Securities Identification: The Need for a “Register-level” Identifier

by Colin Gibson Merrill Lynch - London, additional comments by Richard Robinson, AVP Bank of New York

June 2000, additional comments added Sept. 2000

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Table of Contents

Securities Identification The Need for a “Register-level” Identifier

Instruments can be issued, traded and settled in many ways:

Example - Siemens Ord

Different identifiers are relevant at the different levels:

While “Market-level” identifiers may be appropriate for “Front Office” systems, they are not often appropriate for “Operations” systems.

Issues arising from Instrument identifiers

Standards Issues

Other Issues