The Irish Stock Exchange (ISE) will commence a new process for the application of International Security Identification Numbers (ISIN) for Irish domiciled debt securities and investment funds intending to list on the ISE’s markets from 27 June 2016.
Currently, when an application is made to the ISE to list new shares, the ISIN codes for those shares are issued as part of the listing application, with no additional charge per ISIN code, regardless of the number of share classes applying to list as part of a single application.
From 27 June 2016, listing sponsors will be required to apply separately for ISIN codes for each share class applying to list prior to making an application to list on the ISE. ISIN codes will be issued within 24 hours of application which means that issuers will receive ISIN codes at an earlier stage of the listing process. A fee will be incurred for each ISIN code issued. The cost per code will be €123, inclusive of VAT, which is in line with the current fees payable for non-listing ISIN codes.
These changes have been implemented by the ISE as a result of changes implemented by the Association of National Numbering Agencies (ANNA), of which the ISE is a member. ANNA is a global membership organisation which sets the industry standard for codes that enable the identification and classification of financial instruments internationally. The ISE is the National Numbering Agency for Ireland with responsibility for issuing ISIN codes for all Irish securities, both listed and unlisted.