Standard and Poor’s (S&P) has agreed to amend its pricing structure for the distribution of international securities identification numbers (ISINs) issued in the US. S&P, which holds the monopoly for ISIN issuance in the US, distributes to information service providers (direct supply) who redistribute them to banks across Europe for use in interbank communication, clearing and settlement (indirect supply). The European Commission sent S&P a Statement of Objections in November 2009, alleging that the prices were an abuse of S&P’s dominant position and inconsistent with an ISO standard. After prolonged discussions with the Commission, S&P agreed to supply ISINs via data feed with the initial price of the service set at around €10,101 per year, subject to inflation, and to abolish charges to indirect users. The Commission announced that it will market test the commitments before making them binding on S&P for the next five years.