TS ISO 10962

TS ISO 10962 addresses the CFI (Classification of Financial Instruments) code, an international coding system used to classify securities and related financial instruments. It is intended to support a common way of describing not only classical securities, but also innovative financial products that have emerged across different markets. In practice, that makes it easier to distinguish instrument types in trading and administrative processes.

How the CFI code works in practice

In general technical terms, a CFI code is designed to reflect core characteristics established when a financial instrument is issued and that normally remain stable throughout its life. Such classification systems complement identifiers such as ISIN because they do more than name an instrument: they summarize economically and legally relevant features in a structured code. The standard also recognizes that certain events may justify assigning a new CFI code to the same instrument.

Use in international securities operations

This standard is intended for use in trading and administration within the international securities business. It is especially useful where transactions cross national borders, while use in purely domestic contexts is left to the discretion of the relevant national bodies. Stock exchanges, banks, brokers, regulators and other institutions active in the securities field can use this shared structure to improve consistency in instrument description and processing.

• Covers both classical securities and newer financial products within one classification approach.
• Supports a common coding logic for international and domestic financial instruments.
• Builds on characteristics defined at issuance and normally stable over time.
• Acknowledges that some corporate or ownership-related events may require a new CFI code.