ISO 10962

rdf:langString ISO 10962

rdf:langString ISO 10962, generally known as CFI (Classification of Financial Instruments) is a six-letter-code used in the financial services industry to classify and describe the structure and function of a financial instrument (in the form of security or contract). It is an international standard approved by the International Organization for Standardization (ISO). Since 1 July 2017, each financial instrument should receive a CFI at the same time it is allocated an ISIN (International Security Identification Number) by the respective National Numbering Agency (NNA). The CFI is attributed to a financial instrument at the time when the financial instrument is issued; it will normally not change during the life of that instrument. Each of the six letters of the CFI represents a specific characteristic of the financial instrument (e.g. ESVUFB is used to describe a typical registered share). Those capital letters are drawn from the ISO basic Latin alphabet. The first letter of the code is the Category: E for Equity (shares and other instruments of that nature), D for Debt (particularly bonds), C for Collective Investment Vehicles, (i.e. investment funds), etc. The purpose of the ISO 10962 standard is to provide a recognized standard for describing all financial instruments, which is recognized world-wide by all operators and computer systems in the financial and banking industries. Classification of financial instrument (CFI) Code is used to define and describe financial instruments as a uniform set of codes for all market participants.The code is issued by the members of ANNA, the Association of National Numbering Agencies. The group is currently working to simplify the structure so that as to increase its use by non-governmental market participants.