Association of NationalNumbering Agencies scrl

Annual Report2013

Annual Report 2014

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Contents

3 Chairman’s Report 2014

5 Objectives and mission statements of ANNA

6 General meetings – ANNA administrative review 2014

13 ANNA Service Bureau – report for 2014

14 Securities business and state of ISIN implementation –

worldwide

16 Allocation of ISIN for new financial instruments

19 Working Groups, Task Forces and Reginal Groups

25 List of members by COUNTRY as per May 2015

Appendices

29 A ISO 6166 – an outline of the standard

30 B ANNA Guidelines for ISO 6166, Version 12, August 2014

40 C Geographical division of countries

among substitute agencies as per May 2015

50 D ISO 10962 – outline of the CFI-(Classification of

financial Instruments-) Code

Chairman’s Report 2014

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Dear ANNA Members and Partners,

The year 2014 has been referred to as the transitionary year from the Age of Recovery to the Age of Divergence.

Looking at the events of 2014, Central Bank actions and divergence have been the under-lying themes. The view remains that these two factors are having and will continue to have, significant influence on the global financial markets and the direction they will take in the near future.

One key observation from 2014 was the resurgence of the US dollar as one of the preferred currencies in the world. The in-creased important of the Chinese Renminbi must also be noted, as it moved to #7 of the most actively used currencies in trade finance. It is very likely that the IMF will make it one of the basket currencies for SDRs in the very near future.

Oil prices on the other hand crashed from a high of $116 per barrel to end the year around the $60 per barrel mark. Not good news for oil exporting countries around the world. Yet the stock markets continued to climb, achieve new highs and the financial markets continue to see growth – so there remains a degree of optimism for what 2015 has in store.

For ANNA, its members and their integral roles in the global financial marketplace – 2014 saw the launch of the next stages in our evolution and future global positioning strate-gy.

Below I summarise some of the main topics that the ANNA membership and the Board of Directors put focus on during the course of 2014:

- Most notable was the launch of the new ASB 2014 and the associated upgraded ASB database. This included launching a new ASB data record + associated elements (existing and new) which went live in No-vember 2014. We have already achieved critical mass in terms of member adoption;

- Directly linked to the above, the ANNA Board undertook a review of the current

Association strategy, re-evaluating the approved short, medium and long term direction. Some modifications were made and the Association strategy was presented for validation by the members at the last EGM;

- A growing number of ANNA members continued to contribute to the evolution of the ISO 17442 – Legal Entity Identifier (LEI) standard, to promote ANNA’s federated model and the value added benefits of our model and the National Numbering Agencies (NNAs). We have seen a considerable proportion of the appointed LEI Local Operating Units being taken up by the NNAs in their jurisdiction of responsibility. This illustrates clearly the benefit of the synergies of identifier numbering;

- ANNA’s continued development and appli-cat- ion of the Membership and Partner Guidelines has continued to bring a strong results by ensuring membership and partner compliance in key areas – with clear positive impacts being realised according to feed-back from the ASB operators;

- Work linked to the revision of the ISO 10962 (CFI) standard through Working Group 6 was successfully completed. We expect the FDIS to be published in late 2015. Although the Working Group decided not to keep an RA role for the standard, the role of the NNAs in the assignment of the CFI remains key for the future;

- Within WG14, revisions of the ISO 18773 and 18774 standards where completed – and we saw the merging the two standards into a single, more comprehensive standard encompassing both abbreviations and short name characteristics. ANNA remains the key candidate to be appointed as the Registration Authority when the standard is published and the ANNA Board continues to work with ISO to meet their requirements in this regard;

- At the end of 2014, we reached agreement on the long standing open item regarding ANNA’s tax status/treatment in Belgium. This brings to a close a file that has been in progress for a number of years – with a successful overall outcome for the Associa-tion;

- The ANNA Board again put more focus on aspects of visibility (both internally and

The ANNA Board of Directors

Chairman: Mr Dan KuhnelVice Chairman: Mr Uwe MeyerExecutive Secretary: Ms Emma KalliomäkiTreasurer: Mr György DudásMarketing Director: Mr Martín Paladino

Euroclear Bank Hong Kong BranchWM Datenservice GermanyLondon Stock Exchange United KingdomKeler HungaryCaja de Valores Argentina

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externally). A key development being to introduce new concepts into the General Meetings to create more input from the members. In addition, the ANNA Board identified a number of external conferences that offered visibility opportunities in the financial services space;

- Lastly, in respect of the ANNA Board com-position, Markus Heer left the ANNA Board at the end of the year. On behalf of the Association, I wish to thank him for his contributions to the Association’s objectives over the years.

I also take this opportunity to share the new members and partners that joined ANNA in the course of 2014. We look forward to further enhancing our working cooperation with them.

• Entidad de Deposito de Valores de Bolivia SA (Bolivia) – Full member

• Central Depository of Armenia OJSC (Armenia) – Full member

• CEVALDOM (Dominican Republic) – Full member

• Central Depository & Settlement Co. Ltd (Mauritius) – Full member

• Qatar Financial Markets Authority (Qatar) – Full member

• Maldives Securities Depository Company (Maldives) - Partner

These additions brought the composition of the Association at 2014 year-end to 89 full members and 27 partners representing 123 countries.

I am certain that 2015 will continue to present challenges to the ANNA Board, the ANNA Service Bureau, our dedicated Working Groups and Task Forces - as we continue our focus on data quality and accuracy related matters and continue our dedicated efforts to ensure the Association evolves and continues to meet the requirements of all financial standards users.

I look forward to continuing to work with the members as the Association continues to evolve.

Yours sincerely

Dan Kuhnel

Chairman

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Mission of ANNA:

ANNA (the “Association of National Numbering Agencies”) is a global industry association, with a presence in excess of 120 countries, comprising a membership of Central Banks, Central Securities Depositories, Data Vendors, Regulators and Stock Exchanges.

Mission Statement We are committed to providing actionable global ID and reference data products and services to global market participants, includ-ing Regulators and the financial services industry to uniquely identify, classify and describe entities and financial instruments. We proactively promote, implement and maintain standards for entities and related financial instruments and make related infor-mation available in a uniform and accurate structure for the benefit of global markets and the securities industry as a whole.

Our federated model uniquely positions us as the leading association able to offer local market expertise to the global community.

Objectives:

1. Global promotion of ISO standards under ANNA's Control

• Give assistance to members• Promote National Numbering Agencies

(NNAs) involvement• Give assistance and support to market

participants with regards to standards• Full ISIN coverage where no NNA exists• Support ANNA membership• Monitor ANNA members rights and

obligations• Define role of Partners and Substitute NNAs• Develop marketing strategies and increase

visibility of ANNA

2. Make available

• International Securities Identification Number (ISIN) allocation according to ISO Standard 6166

• Classification of financial instruments (CFI) allocation according to ISO Standard 10962

• Dissemination of ISIN and CFI through NNAs and ANNA Service Bureau (ASB)

• Products of the ASB: ISIN_Access (Look-up service) and ISIN_db (Daily datafeed)

3. Quality

• Develop and proactive maintenance of ISIN- and CFI-guidelines

• Monthly reporting by ASB and other statisti-cal information

• Ensure timeliness / accuracy / availability

4. Committed to work for the benefit of the financial industry

• ISIN- CFI- guidelines• Interaction of ANNA with the external world

Objectives and mission statements of ANNA

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General meeting – ANNA administrative review 2014

ANNA Annual General Meeting, Reykjavik / Iceland 22 & 23 May 2014

The Chairman, Mr. Dan Kuhnel, opened the meeting, welcomed the delegates and thanked the Icelandic Securities Depository for hosting this General Meeting.

Attendance consisted of 43 ANNA members present and an additional 28 members represented through a Power of Attorney. This resulted in an attendance of 84.5%; sufficient to establish the necessary quorum.

Ms. Guðrún Blöndal, CEO, Icelandic Securi-ties Depository Ltd. gave a warm welcome to all ANNA delegates and partners, as well as stating it was an honour to host the ANNA General Meeting.

An informative speech on “The Development and status of the Icelandic financial market” was given by the Rt Hon. Bjarni Benediktsson, Minister of Finance and Economic Affairs of Iceland. This was particularly insightful on the current status of the economic situation of the Icelandic financial market - particularly in light of the financial crisis that significantly affected the Icelandic banks. The outlook for Iceland after the crisis is very positive as Iceland is categorized by OECD as one of the fastest growing countries.

Chairman’s ReportMr. Dan Kuhnel presented an overview of the status of action items resulting from the last General Meeting in Cancun, Mexico, as well as on the activities of the ANNA Board. Among other items, key areas of focus for the Board were outlined as follows –

• Member/Partner compliance e.g. enforce-ment of Membership/Partner obligations

• Legal compliance matters (Belgian tax and relocation focused)

• Data quality and timeliness matters e.g. ASB Questionnaire (Dec 2013)

• Strategic matters such as ANNA position-ing in the LEI space (e.g. LOUs and COU)

• Continued work on assessment of re-lo-cation of the legal domicile of ANNA

Financial Report 2013The ANNA Treasurer, Mr. György Dudas, provided an overview of the financial docu-ments sent to members in advance of the meeting and also highlighted in his presenta-tion some key developments.

Resolutions were unanimously passed accepting the audited financial figures of ANNA for the financial year 2013, the auditor’s report and to give quietus to the ANNA Board. The presentation was concluded with an

outlook of the planned financial activities over the coming months.

Possible relocation of ANNA and related mattersMs. Emma Kalliomaki, ANNA Executive Secretary, provided a summary on the history of the issues leading to considerations about a possible relocation of ANNA to another jurisdiction.

Following receipt of recommendations from KPMG with 2 alternatives to move forward (dissolution & liquidation vs. migration & transfer of seat) further details were requested to understand the potential impact on the members. Migration and transfer was deemed the most appropriate way forward with minimal impact to members.Based on a 5 year forecast for both Belgium and Switzerland, including the respective costs and taxes for each location, Zurich was identified as the preferred jurisdiction. The membership unanimously agreed the resolu-tion to proceed with the next steps.

Membership matters

Membership Guidelines – UpdateMr. Martin Paladino, ANNA Marketing Direc-tor, provided an explanation for the need for these Guidelines which were adopted in 2011. Two proposed amendments, relating to election nomination procedures and Partner-ship status, were unanimously agreed.

Non-compliant NNAs - Overview and Actions TakenAn update on the status and actions taken regarding Membership and Partner non-com-pliance was presented by Ms. Emma Kallio-maki. This included items such as ISIN & CFI allocation, daily delivery and annual refresh master files to ASB, data quality, attendance to General Meetings, responsiveness to Board enquiries/questionnaires and Partners transi-tion to Membership.

Applications for full membershipAn application for full membership was received from Entidad de Depósito de Valores de Bolivia S.A. who was an ANNA Partner since 2008. Their application was unanimously endorsed by the membership.

As a result of the transition of Bolivia from Partner to full Member, the ANNA member-ship reached 85 full members and 30 part-ners; representing 122 countries (UEMOA representing several countries).

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Bloomberg´s “Financial Instrument Global Identifier” (FIGI)A presentation was given on the FIGI high-lighting the replication of the ISIN structure with a possible objective that it could substi-tute the ISIN and also threaten the CFI and MIC standards. As the 1st and 2nd digits of the 12-digit-code can be selected to repre-sent prefixes as used for ISIN (country codes) it could cause significant market confusion as there is a real risk of duplicate numbers being generated.

Bloomberg is aiming to gain endorsement of the FIGI as an OMG standard where, in case of a positive vote, FIGI could become an OMG standard by December 2014.

The membership agreed OMG should be contacted to make them aware of the existing scope and coverage of ISIN. The matter will also be raised to the SC4 Chair to follow up on the item raised by ANNA Chairman, Mr. Dan Kuhnel at the 2014 SC4 Plenary Meeting.

ANNA Service Bureau – Operators Report (Quality and ASB 2014)Scott Preiss, representing CUSIP Global Services as one of the ASB Operators, gave a presentation on data quality, including volume statistics and confirmation that that CFI gaps are reducing.

Nourredine Yous, representing SIX Financial Information Ltd also as an ASB Operator, introduced the current status of the prepara-tions for the ANNA Service Bureau upgrade due for release November 2014. Changes include the introduction of ISO standards LEI (ISO 17442), MIC (ISO 10383) and FISN (ISO 18774).

ASB Technical Committee Chairperson ReportElena Ulianova provided a summary of the ASB main tasks and activities of the ASB Technical Committee in 2013. These included details of the meetings held, review of the results of surveys undertaken and gathering the requirements for the upgrade to ASB.

Election of one Board Member and election of two ASB Technical Committee MembersEuroclear Bank SA was the only nominated candidate with the necessary number of nominations for the seat on the ANNA Board.

Mr. Dan Kuhnel, representing Euroclear Bank SA, gave a short verbal overview as to why he should be considered for (re-)election to the Board. Following an open ballot, Euroclear Bank SA was reappointed for another 3-years-period (until end of 1st General Meeting in 2017).

For the ASB TC election, three candidates received the necessary nominations for the two seats for election: Central Securities Clearing System Plc Nigeria, NSD Russia and KDD Slovenia. The three representatives gave short verbal overviews on their reasoning for standing for election.

Following a closed ballot, NSD Russia repre-sented by Ms. Elena Ulianova and KDD Slovenia represented by Mr. Iztok Klemenc were elected for a 3-years-period (until end of 1st General Meeting in 2017).

As with each year, the roles of ASB TC Chair and Vice Chair alternate between the Opera-tors and the elected ANNA representatives. Mr. Iztok Klemenc, of KDD Slovenia, has been agreed as ASB TC Vice Chair for the period until the spring meeting 2015.

Status and implementation of ISO Standards

ISO 6166 ISIN (International Securities Identification Number) including status on ISO 6166 revision and on ISO Registration Authority AgreementsAn overview and background on the revision process of the ISO 6166 standard was provided by Mr. Dan Kuhnel. The membership was advised that the new version of ISO 6166 standard was formally published by ISO in July 2013. Adoption by ANNA and thus the NNAs is still pending but the proposal on how to move forward will be addressed by ANNA WG2.

ANNA has an obligation to file an annual report with ISO Central Secretariat which must include several key elements such as the provision of ISO 6166 services are on a cost recovery basis (incl. providing an over-view of fees charged by all NNAs).

With regards to the outstanding Registration Authority Agreements for ISO 10962 (CFI) and ISO 18774 (FISN) some background details were provided on the drivers behind the new template introduced by ISO in January 2014. The ANNA Board awaits the outcome of the work of the Advisory Group on RAs before proceeding with the execution of the new Registration Authority Agreement template.

ISO 10962 CFI (Classification of Financial Instruments)Ms. Emma Kalliomaki gave an overview on the current status of discussions within ISO TC68/SC4/WG6 regarding the revision of the ISO 10962 standard. Key changes include a broadened scope to include OTC derivatives and structured products being merged into existing categories. There are also some category changes such as a new category

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introduced for collective investment schemes replacing the use of the ‘EU’ group.

The DIS submission is due 30 June 2014.

ISO 18773/18774 FISN (Financial Instrument Short Name)Mr. Oscar Garcia gave a presentation on the FISN structure (incl. examples), the current status of FISN and the progress made by ISO TC68/SC4/WG14 through bi-weekly confer-ence calls. It has been agreed by the ISO members that ISO 18773 (Abbreviations) would be cancelled (abbreviations would be maintained by the RA in an external list) and only ISO 18774 would be kept.

DIS voting will start on June 25 for a 3 months period.

The membership was advised that Target 2 Securities (T2S) will start in October 2014 and FISN is one of the reporting fields.

ISO 10383 MIC (Market Identifier Code)Following the implementation of the revised ISO 10383 MIC standard in March 2013, a short status update was provided on the operational MIC and segment MIC. Concerns have been raised by users regarding the inconsistent level of granularity that the MIC is being applied to as well as requests for new kinds of venues.

TC68 SAG (Standards Advisory Group)Mr. Uwe Meyer informed the members that the SAG is currently working on a proposal for a new work item to define classifications of entity legal forms that exist within jurisdic-tions. These are required for the LEI record.

ISO 17442 LEI (Legal Entity Identification)Mr. Markus Heer started his presentation by giving some background on the LEI (what is the LEI, guiding principles, overview of the system, how to become an LOU and the structure of the LEI). Developments include financing aspects for the GLEIF and the COU which will be run by the GLEIF.

The success of increased adoption is heavily reliant on future regulation prescribing the LEI. Upcoming regulations will include insurance companies and banks.

Marketing activitiesMr. Martin Paladino gave a presentation on ANNA’s marketing activities; outlining in the first part some historical aspects and provid-ing an overview of ANNA’s values.

More focus has been put on developing a public relations program with the goal to increase ANNA’s visibility. Two external parties (Intermediaction and Clearview Associates)

were hired. Recent activities included the representation ANNA at FIMA in Boston and the execution of an agreement with Mar-ketwired (a press release distribution service).

Suggestions were made for ANNA to consider speaking at the conferences of the World Federation of CSDs, WFIC and IOSCO to make ANNA known and to avoid develop-ments of additional parallel standards. A further suggestion was for an assessment of ANNA’s website to check the performance of hits, rank on search engines, and search engine optimisation including consideration of a website redesign. The Board will look into both proposals.

Reports from Working Groups, Task Forces and Regional Groups

WG1 – Assisting Emerging MarketsMr. Uwe Meyer advised that another Work-shop (focusing mainly on operational and practical matters) will be organized for No-vember 2014, in advance of the Extraordinary General Meeting.

WG2 – ISIN Quality and GuidelinesMr. Oscar Garcia, as convenor of WG2, provided an overview of the Guideline amend-ments as well as on the potential changes resulting from the new version of ISO 6166. The new version of the ISIN Guidelines were unanimously approved by the membership as well as agreement for adoption of the new version of the standard as of August 1, 2014.

WG5 LEIMr. Niels Hougaard, convenor of WG5, presented the current status of discussions amongst the WG5 members. Discussions have taken place around LEI establishment and the role of ANNA members as potential LOUs. ANNA and WG5 will support NNAs who are striving to be recognised as LOUs in their jurisdictions. The group will also discuss how to create the LEI and ISIN linkage within the ASB database as this is deemed an important exercise.

TF20 Implementation of new standardsMr. Nourredine Yous as TF20 convenor reported the steps related to FISN implemen-tation including the requirement to evaluate the presently implemented FISN volumes and the process for the exchange of FISNs between Substitute NAs and NNAs.

Regional Groups

ALARG (ANNA Latin America Regional Group)Mr. Martin Paladino gave a presentation on the activities of ALARG, including both historic aspects and the latest events of the Regional Forum. ALARG has accomplished

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one of its main objectives of having one NNA in each country of the region. The next goal is to transition Partners to full Membership.

APARG (Asia-Pacific Regional Group)Mr. Dan Kuhnel, acting as initial Regional Manager for both groups, provided an over-view of the progress. Focus has been placed on individual NNA needs & assistance. Focus needs to be put on finding two convenors to coordinate regional activities.

AMERG (African and Middle East Regional Group)Mr. Uwe Meyer was pleased to announce that AMERG members and partners agreed to elect Egypt as convenor. Dr Tarek Abdel Bary kindly accepted on behalf of MCDR.

MiscellaneousThe members were informed of the activities behind the domain www.isin.org. The owners of this domain create misleading requests portraying themselves as being a representa-tive of the issuer of the financial instrument. These ISINs are then sold at very high fees to the requestors. Cases have been identified in the UK, Netherlands and the US.

Next meetingMr. Syafrudin, on behalf of KSEI (Indonesia), invited the ANNA Membership to attend the next Extraordinary General Meeting and Workshop in Indonesia on 19th-21st Novem-ber 2014.

ANNA Extraordinary General Meeting, Bali / Indonesia 20 & 21 November 2014

The Chairman, Mr. Dan Kuhnel, opened the meeting, welcomed the delegates and thanked the KSEI for hosting this Extraordi-nary General Meeting.

Attendance consisted of 26 ANNA members present and an additional 40 members represented through a Power of Attorney. This resulted in an attendance of 77.6%; sufficient to establish the necessary quorum.

On behalf of Mr. Heri Sunaryadi, President of KSEI, Mrs. Margeret M. Tang gave a warm welcome to all ANNA delegates and partners, expressing the honour for KSEI to host the ANNA Extraordinary General Meeting.

Mrs. Tang gave an overview on status and activities of KSEI in its function as National Numbering Agency for Indonesia. Since becoming an ANNA member in 1994, KSEI has allocated 1600 ISINs primarily for equi-ties, debt instruments and mutual funds. KSEI was very pleased to welcome 39 delegates at the previous day’s ANNA workshop stressing

the growing importance of this information session on operational matters for existing and potential members and partners. Mrs. Tang closed her speech by wishing the delegates a successful meeting.

An industry presentation was provided by Mr. Sarjito, Capital Market Supervisory Commis-sioner Deputy of Capital Market Supervision (Indonesian FSA), on the topic of “Broadening issuer and investor base of Indonesian capital market”. The overview provided the current status and the measures being taken by the Indonesian supervisory authority to attract issuers and investors with a focus to provide a secure frame for investors in the Indonesian capital market.

Chairman’s ReportMr. Dan Kuhnel presented an overview of the status of action items resulting from the General Meeting in Iceland as well as on the activities of the ANNA Board during Q3/4 2014. Among other items key areas of focus by the Board were:

• Member/Partner compliance e.g. enforce-ment of Membership/Partner obligations

• Legal compliance matters (Belgian tax and relocation focused

• Data quality and timeliness, e.g. contin-ued work and support of the ASB 2014 launch

• Strategic matters such as new entrants into security numbering

• More interactive organisation of GMs as well as Public Relation matters (PR strategy, conference sponsorship, repre-sentation at conferences etc.)

ANNA’s short, medium and long-term strategyThe presentation was opened by Mr. Dan Kuhnel outlining the need to re-assess the basic assumption that most NNAs generate some added-value from their role as Registra-tion Authority Agencies in their respective markets.

The need to re-assess ANNA’s strategy is driven by several factors such as the Regis-tration Authority (RA) role for ISIN not being guaranteed by ISO, the RA role for CFI being removed, and particularly that ISIN and ANNA are being faced with competitive identification schemes.

Therefore, ANNA needs to revisit its vision and members need to express their expecta-tions and empower the Board to take action and move towards final decisions.

With regards to competing identification schemes a broad discussion took place on the aggressive marketing campaigns taking

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place where a lot of misinformation is being circulated; such as:

• “No global ID standard exists” this is clearly wrong as the ISO 6166 standard is a global standard

• A 12 character structure has been used to allow easier implementation which indicates their underlying intention to replace the ISIN

• “Coverage is higher than that provided by the ISIN” statement is untrue as ISIN is assigned at global level where the alter-nate identifier is assigned a market level. Combining ISIN with the ISO 10383 MIC standard provide the same level of granularity.

All NNAs will need to keep an eye on activities in their local markets and be ready to react.

Mr. Nourredine Yous informed the member-ship on his recent participation on behalf of ANNA in an OMG (Object Management Group) meeting. The Financial Instrument Global Identifier is currently in the voting process to be adopted as an OMG standard. Mr. Dan Kuhnel advised that the management of ISO TC68 are open to the initiative by viewing it as a possible alternative to the ISIN due to ISIN licensing discussions.

For more interaction with the members at a General Meeting, break-out sessions were introduced where delegates were split into 5 groups. Each group focussed on a different topic area, these being: • ANNA’s visibility• Role of the ASB• External threats to ISIN and ANNA• How does the external world view ANNA• Day to day challenges faced by ANNA

– operational/practical

The sessions proved to be extremely popular resulting in many ideas and proposals.

Financial forecast 2015The ANNA Treasurer, Mr. György Dudas, provided an overview of the financial docu-ments sent to members in advance of the meeting and also highlighted in his presenta-tion some of the significant aspects.

Resolutions as well as financial documenta-tion were sent to the membership before the General Meeting. The ANNA Treasurer, Mr. György Dudas (GD), highlighted in his presentation some of the significant aspects including no membership fee for 2015 and changes to the expenses in comparison to budget 2014.

Mr. György Dudas also outlined the current status of the Belgian tax case where a pro-

posal for a basis tax is being negotiated with the Belgian Tax Authorities.

Resolutions regarding the membership fee and 2015 budget were unanimously approved by the members.

Possible relocation of ANNA and related matters - statusIn light of the recent positive developments in discussions with the Belgian Tax Authorities, if formal agreement is reached, ANNA can remain in Belgium as the initial considerations for relocation will have been resolved. On this basis, the relocation topic can be closed at the next General Meeting.

Membership matters

Local market developments in AustraliaMr. John Williams gave an overview on devel-opments at Australian Securities Exchange. This included confirmation that the ASX code (ticker symbol) will be removed as part of the basic number of the ISIN. This issue has led to restrictions on ISIN assignment and reuse of existing ISINs. The change is a positive move to align with global practices.

Membership compliance – updateMs. Emma Kalliomaki started her presentation by giving an overview on the matters the Board has been focusing on such as ISIN and CFI allocation, data quality, attendance at General Meetings as well as membership status. The Board has decided to split geo-graphical responsibilities where members/partners need to be contacted with regards to compliance matters.

Applications for full membershipApplications for full membership were re-ceived by the following Partners; Central Depository of Armenia OJSC; CEVALDOM (Dominican Republic); Central Depository & Settlement Co. Ltd (Mauritius) and Qatar Financial Markets Authority

All applications for membership were unani-mously endorsed by the members.

Application for PartnershipMaldives Securities Depository Company applied for partnership. The application was unanimously endorsed by the members.

As a result of the applications, the ANNA membership now stands at 89 full members and 27 partners; representing 123 countries (UEMOA representing several countries).

ANNA Service Bureau – Operators Report (Quality and ASB 2014)Mr. Scott Preiss gave a presentation on some volume statistics as well as on the core quality

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issues on issuer and instrument data. A few examples on specific on-going operational challenges were presented. His presentation continued with an overview of current cus-tomers as well as an overview on the usage of the ASB website.

Mr. Nourredine Yous outlined the changes that led to the successful and timely release of the ASB new record structure; effective since November 2014.

The ASB Technical Committee will need to decide when all NNAs should have finalized the migration to the new format. It was proposed to have fixed release cycles so that NNAs could include these in their own internal planning.

Status and implementation of ISO Standards

ISO 6166 ISIN (International Securities Identification Number)Mr. Dan Kuhnel gave a brief update on the adoption of the revised ISO 6166 standard. The standard was now live – with official adoption by the ANNA members taking place from 1 August, 2014.

ISO 10962 CFI (Classification of Financial Instruments)An overview was provided by Ms. Emma Kalliomaki on the current status of ISO TC68/SC4/WG6 and revision of the standard. The current DIS version is in the ISO voting process until 1 January 2015.

Although ANNA has been removed as the ISO Registration Authority, the ISIN and CFI are still linked within the text of the standard. ANNA and the NNAs will remain fundamental to the CFI assignment process.

It was recommended that the new version of the standard needs an implementation plan where a timeframe needs to be considered by ANNA.

ISO 18774 FISN (Financial Instrument Short Name)Items were highlighted from the written report that had been provided by convenor Mr. Oscar Garcia. A new DIS version of the ISO 18774 standard was submitted at the end of June and ended in late September 2014 with a positive vote.

Currently WG14 is working on the comments received during the voting process and it is expected that the standard will be published during the 1st quarter of 2015. In addition, to working on the comments the WG is preparing the document outlining the Registration Proce-dures for the future Registration Authority.

ISO 10383 MIC (Market Identifier Code)A short presentation was given on the current status on MIC (operational MIC and segment MIC). The MIC is also included as a new (optional) data field with the new ASB record.

TC68 SAG (Standards Advisory Group)The SAG is currently working on a proposal for a new work item to identify entity legal forms that exist within different jurisdictions. This dataset is required for the LEI record. In addition, the convenor of the SAG has recent-ly sent a letter to the ROC (Regulatory Over-sight Committee) and the GLEIF (Global LEI Foundation) offering assistance in all potential standards related requirements of the LEI.

Legal Entity IdentificationMr. Uwe Meyer provided some background on the LEI as well as current developments; including the appointment of the GLEIF CEO Mr. Stephan Wolf, as of October 2014.

Marketing activitiesMr. Martin Paladino gave a presentation on ANNA’s marketing activities advising that more focus has been put on developing a public relations program with the goal to increase ANNA’s visibility. The Board is also more focused on gaining greater visibility for ANNA by participating, presenting, as well as spon-soring industry conferences, e.g. WFIC 2015.

A proposal was made to invite financial market participants of countries hosting the General Meeting to attend the workshop or morning sessions of General Meetings.

Reports from Working Groups, Task Forces and Regional Groups

WG1 – Assisting Emerging MarketsLaos has expressed possible interest in partnership within ANNA as a result of Mr. Dan Kuhnel’s participation in the Asian Bond Market Forum.

Ms. Elena Ulianova provided an update on contact with Uzbekistan.Another Workshop to focus on operational and practical matters will be organized for November 2015, prior to the Extraordinary General Meeting.

WG2 – ISIN Quality and GuidelinesOn behalf of Mr. Oscar Garcia an overview was provided on the adoption of the latest version of the ISO 6166 standard and new ISIN guidelines as of 1 August 2014.

WG5 (LEI)As there are currently no tasks for WG5 to deal with, the convenor and the ANNA Board have agreed to place the working group into a dormant status.

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TF20 (Implementation of new standards)Upon publication of the FISN an implementa-tion plan will be developed.

Regional Groups

ALARG (ANNA Latin America Regional Group)ALARG has accomplished one of its main objectives of having one NNA in each country of the region and continues to work on the objective to gain full Membership of each Partner.

APARG (Asia-Pacific ANNA Regional Group)During Q2 and Q3 2014 focus continued to be placed on individual NNA needs & assistance. Efforts continue to find two convenors to take over the coordination roles.

AMERG (African and Middle East Regional GroupA presentation was given by Dr. Tarek Abdel Barry convenor of the new Regional Group. Several partners have been contacted and reminded of their obligations as well as communication re-established. A prospective for new partnership is the Sudan Stock Exchange.

Appointment of nomination committee for ANNA Board and ASB TC election 2015The Nomination Committee was appointed for the spring meeting 2015 where three seats are open for election: Argentina and Hungary for the ANNA Board as well as Turkey for the ASB Technical Committee.

Caja de Valores (Argentina) advised the members that they have decided not to stand for re-election.

Next meetingOn behalf of the Irish Stock Exchange the Membership was invited to attend the next Ordinary General Meeting 4-5th June 2015 to be hosted in Dublin, Ireland.

Emma KalliomakiANNA Executive Secretary

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Status of ASB activities

The ASB TC members have held a couple of conference calls during the last calls. This report describes the status of the relevant topics.

Pricing: The Technical Committee Members agree that a potential price increase in the course of 2016 will be applied to all custom-ers, including the present ones.

Migration: The parallel processing to manage the old record structures and the NRS (New Record Structure) result in a big workload, high costs, and it makes the support groups at the operators’ sites more complex. Moreo-ver, neither a price increase can be applied nor can many potential customers be con-tracted before the NRS coverage is very close to 100%. For this reason, the operators have been asked to set a deadline for supporting the old record structures. It was agreed among the operators that the deadline for the implementation of the NRS would be Novem-ber 27, 2015. The old ISIN record will no longer be supported after this date.

While Euroclear planned to switch to the NRS in June 2015, and thus will cover 99% of the XS ISINs, we will need a solution to manage the Luxembourgish instruments. A letter was sent by Clearstream to both the ANNA and the ASB chairmen, informing them of Clear-stream's inability to implement the NRS before the first half of 2016.

There is no problem with the migration on the client's side. According to Scott Preiss, all customers will have implemented the NRS by

May 2015. There is solely an uncertainty relating to the ECB.

Bloomberg Contract: An overview of the conditions of termination to be outlined by the operators is in progress (CGS).

FIGI: The ASB TC members discussed the potential damage that could result from the FIGI marketing campaign. It is recommended that the ANNA members be requested to publish related press releases in their respec-tive countries. As an additional activity in this context, the operators will write a letter outlining the benefits of the ASB that can be used by all members.

ASB Contract Templates: It was agreed that a new template for end users will be drafted based on the template for vendors that is available as an annex to the basic ASB contract between ANNA and the operators. A new Italian customer has been acquired and is already using the ASB.

ASB Marketing Planning: It was agreed that the operators will make suggestions concern-ing the future marketing of ASB.

Nourredine Yous Chairman, ASB Technical Committee

ANNA Service Bureau – report for 2014

The ASB Network

Web ServerNew York

Web ServerZurich

Standard & Poor´s SIX Financial Information Ltd

ISIN DBNew York

ISIN DBZurich

Customers Customers

NNAsNNAs

Synchronization

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Securities business and state of ISIN implementation – worldwide

* including Structured Products** Traded Options and Financial Futures*** included in EquitiesItalic figures refer to previous years; no updated information received

Country EquitiesDebt instruments* Warrants Investment funds TOFF** Use of ISINsno. ISINs no. ISINs no. ISINs no. ISINs no. ISINs Domestic Cross border Primary Second. Not yet

Algeria 4 67 - - - X - X - -Angola - 649 - - - - - - - XArgentina 569 9.514 4 24 - - X - X -Armenia 550 8 - - - x X X - -Australia 8.612 8.958 5.976 14.025 - X X - X -Austria 567 14.223 3.090 3.856 1.028 X X X - -Azerbaijan 2.003 331 - - - X - - - -Bahrain 52 221 - 50 - X X - - -Bangladesh 292 378 - 41 - - - X - -Barbados 96 4 - 3 - X X X - -Belarus 15 6 - - - - X - - -Belgium 12.215 15.135 23 3.016 - X X X X -Bolivia 62 11.144 - - - - X - - -Botswana 26 89 - - - X - - - -Brazil 6.615 683.067 50 21.552 4.869 X X X X -Bulgaria 1.378 115 3 114 - X X X - -Canada 14.209 32.086 290 52 - X X X - -Cape Verde 7 243 - - - X X X X -Chile 362 337 - 314 - - X - - -China 3.056 8.821 33 411 - - X - - -Colombia 216 96.635 - 2.747 - X X X X -Costa Rica 20 388 - 128 - X - X X -Croatia 899 164 - 173 - X X - X -Cyprus 151 102 1 - - X X X - -Czech Republic 726 245 1 52 15 X X X X -Denmark 375 2.148 172 892 - X X X - -Dominican Republic - 267 - 3 - X - X - -Ecuador - 81 - - - - - - -El Salvador 101 387 - - - X - - - -Egypt 9.769 507 - - - X X X - -Estonia 6.129 167 - 100 - X X X - -Finland 505 2.995 1.046 469 - X X X - -France 1.169 1.999 40 8.128 - X - X X -Georgia 255 85 - - - X X X - -Germany 18.654 903.980 594.811 8.121 214.523 X X X - -Greece 297 517 4 112 - X X X - -Guatemala 5 27 - - - X - - - -Honduras - 160 - - - X X X - -Hong Kong 411 4.578 8 1.385 17 - - - X -Hungary 9.058 844 1.365 885 16.806 X X X - -Iceland 207 414 - 218 - X X X - -India 19.577 19.119 72 19.998 - X - X - -Indonesia 525 553 32 215 - - - - X -Iran 734 52 - 8 61 X - - - -Ireland 62 490 54 62.370 - X X X X -Israel 895 1.521 742 1.293 1.684 X X - X -Italy 11.021 26.604 4.378 5.893 59.190 X X X - -Jamaica 76 30 - - - X X X - -Japan 3.633 60.162 20 8.776 - X X - X -Jordan 268 223 - - - X - X - -Kazakhstan 101 417 - 1 - - - - X -Korea 9.274 80.421 288 21 3.741 X X X - -Kuwait 495 12 - 39 1.567 X X X X -Latvia 70 92 - 37 - X X X - -Lebanon 186 637 2 20 - X X - X -Libya 62 - - - - X - - - -Lithuania 513 236 - 26 - X X X - -Luxembourg 580 715 395 156.928 - X X X X -Macedonia 613 124 - - - X - X - -Malaysia 919 557 242 243 864 X X - X -Maldives - - - - - - - - - xMalta 49 152 15 1.444 - X X X - -Mauritius 1.230 90 3 9 - - x - - -Mexico 781 2.661 412 6.494 - X X - X -Mongolia 323 117 - - - - - - - xMontenegro 338 38 - - - X - - - -Mozambique 4 39 - - - X - - - -Morocco 93 742 - 381 - X - X - -Nepal 235 - - - - X - X - -Netherlands 229.820 2.060 *** *** - X X X - -Nicaragua 1 119 - - - X - - - -Nigeria 227 58 - 1 - X X - - -Norway 7.193 4.006 4.311 833 2.968 X X X - -Oman 260 23 - 3 - X - - X -Pakistan 748 117 - 51 - X - - - -Palestine 48 1 - - - X - - - -Panama 81 984 - 26 - X X X X -Paraguay - 356 - - - X X - -Peru 420 349 - 11 - X X X - -Poland 1.048 1.167 - 144 1.584 X X X - -Portugal 2.746 2.331 6 730 0 X X X - -Qatar 43 29 - 2 X X X - -Romania 4.308 110 - 100 866 X X X - -

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Securities business and state of ISIN implementation – worldwide

Country EquitiesDebt instruments* Warrants Investment funds TOFF** Use of ISINsno. ISINs no. ISINs no. ISINs no. ISINs no. ISINs Domestic Cross border Primary Second. Not yet

Russia 4.644 1.269 - 734 - X X X X -Saudi Arabia 169 35 - 3 - - - - X -Serbia 2.199 229 - - - X - X - -Seychelles 11 - - 10 620 X X X - -Singapore 622 1.219 313 45 - X X - X -Slovakia 2.005 436 - 13 - X X X - -Slovenia 670 92 - 126 - X X X - -South Africa 1.764 1.938 302 5.731 - X X X X -Spain 10.334 3.393 1.655 2.523 3.637 X X X - -Sri Lanka 302 310 5 1 - - X - - -Swaziland 7 31 - - - X - - - -Sweden 2.317 9.991 2.926 1.772 38.738 X X X - -Switzerland 40.895 85.165 141.504 5.344 3.359 X X X X -Syria 21 - - - - - - XTaiwan 2.138 1.469 14.300 977 5.275 X X - X -Tanzania 12 159 - - - X X - - -Thailand 2.464 2.000 304 5.140 - X X - X -Tunisia 455 230 - 43 - X X X - -Turkey 894 1.184 4.090 715 1.109 X X X X -UEMOA 40 52 - 20 - X X X - -Uganda 7 40 - - - - - -Ukraine 14.989 3.934 - 1.406 - X X X - -United Arab Emirates 173 12 - 21 - - - - - XUnited Kingdom 6.062 9.571 18.460 74.422 302.542 X X X - -Uruguay 3 161 - - - X X X X -USA 165.521 6.555.015 4.684 197.416 622.173 - X - - -Venezuela 49 219 - - - - - X - -Vietnam 1.045 623 - 3 - X X X - -Zambia 30 184 - - - X X - - -Zimbabwe 79 2 - - - - - -Clearing systems:Clearstream - 340.660 - - - X X X X -Euroclear - 340.660 - - - X X X X -Total 659.158 9.369.883 806.432 629.433 1.287.236

* including Structured Products** Traded Options and Financial Futures*** included in EquitiesItalic figures refer to previous years; no updated information received

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Options/Futures

Commodi-ties

Indexes Interest Rates

Currencies Cross Rates

Comments / Reasons for non allocation of ISINs for specific types of instruments

Algeria − − − − − − These instruments are not used yet in Algerian financial marketAngola − − − − − − We don‘t have any derived financial instruments yet.Argentina − − X − X − Since the allocation of the ISINs is currently done manually, it is difficult

to allocate ISINs for all specific types. Moreover, there‘s no requirement from the market.

Armenia − − − − − − The main reason is that this specific type of instruments is not circu-lated in the Armenian securities market.

Australia X − − − − −Austria X X X X − − We allocate ISINs upon request (no request/need for Currencies or

Crossrates at the moment)Azerbaijan − − − − − − These types of instruments are non-existent on the securities market

in Azerbaijan.Bahrain X X X X X XBangladesh − − − − − − Only currencies are traded in Bangladesh by bank & money changers

but no market practice to allocate ISINs.Barbados − − − − − − No requests made.Belarus − − − − − − We do not allocate ISINs for derived financial instruments as we have

not received any requests for such allocation.Belgium X X X X X XBolivia − − − − − − EDV is allocating ISINs and CFI to all the type of instruments listed in the

Bolivian Stock Market.Botswana − − − − − − N/A, not available in our market.Brazil X X X X X XBulgaria − − − − − − There are no derived financial instruments on the Bulgarian capital

market yet; allocation will start as soon as this type of instruments appears on the market.

Canada − − − − − − These types of instruments do not trade with ISINs in Canada.Cape Verde − − − − − − Not applicable.Chile − − X − X − We have not been requested to allocate such type of instruments as

of today.China X X − − − There is no request for ISINs of these specific types.Colombia − − − − − − These instruments are not cleared or settled through neither of the de-

positories available in Colombia (DCV or DECEVAL), thus DECEVAL does not assign ISIN codes. Clearing and settling happen in the depositories for the subjacent securities when applicable.

Costa Rica − − − − − − Instruments not available for the local market.Croatia − − X − − − These types of instruments are not issued by domestic security industry.Cyprus − − − − − − The Cyprus Stock Exchange (CSE) does not allocate ISINs for structured

products because CSE has not reveived any requests for specific types of Financial Instruments re.g structured products.

Czech Republic X − X − − − Not required yet.Denmark − − X X X X All Danish TOFF‘s are issued out of Sweden; Commidities are not traded

in DK.Dominican Republic − − − − − − At the moment Derived Financial Instruments do not exist in the Domini-

can Republic securities market.Ecuador − − − − − − We don‘t have those markets.El Salvador − − − − − − Instruments are not available in our market yet.Egypt − − − − − − We have no derived financial instruments yet.Estonia X X X X X XEuroclear − − − − − − ISINs are only allocated in accordance with the ISO 6166 standard and

ANNA ISIN Guidelines - therefore the instrument types above are out of scope of the area of our responsibility

Finland − − − − − − The market has not requested this yet.France − X X X X − Euroclear France is delegating the codification of Monep options to

Euronext and Matif futures are not identified under the AFC reference system and aren‘t officially coded. We didn‘t codify cross rates.

Georgia − − − − − − There are no such securities on the marketGermany X X X X X XGreece − X X − − − Technically is feasible to allocate ISIN codes for all instruments but there

is not such an interest by the local market.Guatemala − − − − − − The derived financial instruments market does not yet exist in

Guatemala.Honduras − − − − − − There is no derivative market in Honduras.Hongkong X − X X X X No requests were received so far for ISIN on commoditiesHungary X − − − − − The ISIN order does not oblige the issuers to identify the instruments

with an ISIN not marked on the left.Iceland − − X − X X No demand for them plus those types are not common in our market.India − − X − − − Commodity identifiers (C-Ids) were earlier generated for warehouse

receipts for commodities. This has now been discontinued and is in the process of being phased out; At present, ISINs are allocated to securities that trade in demat form and where a need has been felt for allocation of ISINs, especially for the purpose of clearing and settlement. No re-quest has been received from market participants viz. stock exchanges for allocation of ISINs for exchange traded futures and options. Further, several of the aforementioned instruments come under the purview of the banking regulator and the commodities market regulator and they have not desired allocation of ISINs for instruments under their purview.

Indonesia − − − − − − We only create ISINs for the financial instrumenst listed in KSEIIran X X X − − − The other types of instruments are not used in our area.Ireland − − X − − −Israel X − X X X −Italy X X X X X − Euro cross-reates are not under our competence.Jamaica − − − − − − Derived financial instruments are currently not available on the JSE.Japan − − − − X X The local codes (4 digits) are mainly used by the Japanese market

participants.

Allocation of ISIN for new financial instruments

TypeCountry

Italic figures refer to previous years; no updated information available

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Options/Futures

Commodi-ties

Indexes Interest Rates

Currencies Cross Rates

Comments / Reasons for non allocation of ISINs for specific types of instruments

Jordan − − − − X − Apart from currencies, such issues do not exist in the Jordanian Capital Market

Kazakhstan − − − − − − According to our Rules of ISIN allocation we do not allocate ISINs for derived financial instruments.

Korea X X X X X XKuwait X − − − X − Not offered in the Kuwaiti MarketLatvia − − − − − − Such types of financial instruments are not registered at the Latvian

Central Depository at the moment.Lebanon − − − − X − With the exception of Currencies these types of instruments do not exist

in the country.Libya − − − − − − The Libyan Stock Market is only dealing with ordinary shares.Lithuania − − − − − − Not existent in the market or not circulated publicaly via CSD.Luxembourg − − − − − − No market demandMacedonia − − − − − − These types of instruments are not introduced yet on the Macedonian

Capital MarketMalaysia X − X − − − ISINs are allocated for instruments that are listed and traded on the

Exchange or by request from the issuers.Maldives − − − − − − No such instruments introduced in the country.Malta − − − − − − No requests were made so far.Mauritius − − − − − − Allocation will begin as soon as the Stock Exchange of Mauritius starts

trading derivatives.Mexico − − − − − − The Derivate Mexican Market doesn‘t require the ISIN. Mongolia − − − − − − Some of the instruments are not available in the market and for others,

we are working on to allocate ISINs.Montenegro − − − − − − We don‘t have those type of financial instrumentsMorocco − − − − − − These types of instruments do not exist on the securities market in

Morocco.Mozambique − − − − − − Instruments not existing yet in the marketNepal − − − − − − Most of the instruments are not available in Nepalese market. Instru-

ments which are available are yet to come under regulatory bodies. Some of the instruments which are available are also not open for trade in the market.

Netherlands X X X X X XNicaragua − − − − − − No allocation due to market conditions. Allocation will start as soon as

the market will demand it.Nigeria − − − − − − Not existing yetNorway X X X X X XOman − − − − − − Not available in the Omani market.Pakistan − − − − − − Due to non-existance of such instrument type and/or due to no market

demand.Palestine − − − − − − None of these instruments listedPanama − − − − − − We do not have these financial instruments in our countryParaguay − − − − − − We do not trade any of those instruments.Peru − − − − X − Derived financial instruments are not traded at the BVL. In the case of

currencies, we have allocated an ISIN code only for our national cur-rency (Nuevos Soles).

Poland X X X X X XPortugal X − X X X − INTERBOLSA doesn‘t allocate ISIN codes to Commodities nor to Cross

Rates because there have been no requests. Qatar X X X X X XRomania X − X − X − No request received yetRussia − − X X X X ISINs for TOFFs and commodities have not yet been requested by the

Russian market. Once we receive the request from the market we will start allocation.

Saudi Arabia − − − − X −Serbia − − − − − − Derived financial instruments have not yet appeared on our market.Seychelles X X X X X XSingapore − − − − − − ISIN code not used in the market.Slovakia − − − − X − Allocation of ISIN for specific types of finacial instruments is not manda-

tory according to Slovak legislation. Slovenia − − X − − − The reason for not allocating ISINs is because these types of instru-

ments are not issued yet.South Africa − − − − − − Current system constraints.Spain X X X X − − As part of the Eurozone we are no longer in charge of assigning ISIN

codes for currencies and cross rates.Sri Lanka − − − − − − Products are not avavilable in Sri Lanka.Swaziland − − − − − − We need technical assistance on issuing ISIN codesSweden X − − − − − No market convention.Switzerland X X X X X XSyria − − − − − − We only have equity securites in Damascus Securities ExchangeTaiwan X − X − − − ISINs are allocated only for those derived financial instruments traded

on the exchange.Tanzania − − − − − −Thailand X X X X X − No cross rates derivatives products available in the exchange and no

request for the issuance of ISIN upon cross rates derivatives products.Tunisia − − − − − − These specific types are not traded in Tunisia.Turkey X X X X X XUEMOA − − − − − − These instruments do no exist in our juristiction.Uganda − − − − − − Not listed on the Stock ExchangeUkraine − X − − − − No market demandsUnited Arab Emirates − − − − − − DERIVRD FINANCIAL INSTRUMENTS are not yet used and regulated in

UAE markets. Allocating ISINs for Commodities is under process but the other menioned instruments are not licened in UAE markets yet.

Allocation of ISIN for new financial instruments

TypeCountry

Italic figures refer to previous years; no updated information available

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Options/Futures

Commodi-ties

Indexes Interest Rates

Currencies Cross Rates

Comments / Reasons for non allocation of ISINs for specific types of instruments

United Kingdom X X X X X XUruguay − − − − − − Some of these products are traded on stock exchanges without ISIN

which is the case of currencies.USA X X X X X XVenezuela − − − − − − These instruments are not negociated in our market.Vietnam − − − − − − VSD only allocates ISINs for financial instruments which are registered

at VSD. Allocation will start as soon as they are registered.Zambia We only have equities, debts and depository receipts; Allocation will

start as and when the instruments are introduced in the market.Zimbabwe Because we do not offer other productsNumber of allocating countries

31 24 39 25 34 20

TypeCountry

Allocation of ISIN for new financial instruments

Italic figures refer to previous years; no updated information available

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Working Groups and Task Forces

WG1 (Assisting Markets)

An important step for all Members and Partners was the development of the Mem-bership Guidelines by the ANNA Board that became part of the legal documents through voting at the General Meeting in Jordan in December 2012. The document outlines several aspects of the members and partners rights and obligations in more detail. Being a living document it is constantly updated, presented to the membership and voted at a General Meeting.

At the General Meetings in Iceland (June 2014) and Bali (November 2014) we were pleased to receive applications for full mem-bership from our ANNA Partners in Armenia, Bolivia, Dominican Republic, Mauritius and Qatar. Applications were voted unanimously bringing membership to 89 full members.

In addition, an application for Partnership was received for the November meeting by the Maldives.

Currently ANNA has 27 ANNA Partners:

• Algeria• Angola• Barbados• Belarus• Botswana• Cape Verde• Ecuador• El Salvador• Georgia• Ghana• Guatemala• Honduras• Jamaica• Kenya• Maldives• Mongolia• Nepal• Nicaragua• Paraguay• Seychelles• Swaziland• Syria• Tanzania• Uganda• Uruguay• Zambia• Zimbabwe

Organizations from these countries being appointed as National Numbering Agencies are mainly Central Securities Depositories (CSDs) or Stock Exchanges. ANNA Members and Partners allocate ISINs for 123 countries.

Countries not having appointed a National Numbering Agency yet are handled by the

Since its foundation in 1992 ANNA's tasks have been growing constantly. In order to structure the work of all existing Task Forces, ANNA decided to categorize the existing Task Forces into two categories:

• Working Groups (WG) and• Task Forces (TF)

While WGs are permanent and looking into strategic matters, TFs should present their results to the General Meeting in a limited period.

At present three Working Groups, one Task Force plus three Regional Groups are in operation:

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appointed SNAs (CUSIP Global Services, National Settlement Depository Russia, WM Datenservice and SIX Financial Information) which extend ISIN coverage to all countries worldwide.

Further prospects for 2015 or later are Cambodia, Gibraltar, Laos, Myanmar and Sudan.

A few other countries (e.g. Cayman Islands or Bermuda) have appointed NNAs but are currently neither ANNA Partner nor Member.

At each meeting the Board has put special focus on compliance issues that have to be followed by all Members and Partners such as ISIN and CFI allocation according to the latest version of the standards and the accompany-ing Guidelines, uploading of daily files as well as annual refresh master files to the ASB database and the adherence to the terms outlined in Membership Guidelines.

As a new version of the ASB record was established in November 2014 with a much broader coverage of detailed information (e.g. FISN, LEI, MIC etc.) all Partners and Members are currently adapting to this new version.

All Partners being fully compliant and being a Partner for more than two years will be asked to consider applying for full membership as this status should only be an interim status to get used to all operational and organizational aspects of the NNA function and requirements resulting from the ANNA membership.

Finally, another Workshop focusing mainly on practical matters related to the NNA functions was held on November 19 in conjunction with the Extraordinary General Meeting in Bali. We were pleased to see that many Partners took this opportunity to discuss practical items that usually could not be discussed during a General Meeting. ANNA will keep on offering such workshops mainly in conjunction with the Extraordinary Meetings that will take place outside of Europe.

Uwe MeyerWG1 Convenor

ANNA Working Group 2 (ISIN Quality and Guidelines) The WG2 is focused on topics related to the guidance on ISIN allocation and also in charge of the periodical review of the ISIN allocation rules, which are compiled in a live document named ISIN Uniform Guidelines. The Guide-lines are constantly updated and presented to the ANNA membership at General Meetings.

During 2014, the WG2 held several conference calls to address different matters related to ISIN allocation. The work done contributed to the preparation of a new version of the ISIN Guide-lines, the 12th one, which was approved by the ANNA membership during the General Meeting held in Reykjavik in May 2014. This new version was a revision of the previous one from 2011 and came into force in August along with the latest ISO 6166 edition to which it is linked.

Among others, this new edition of the ISIN Guidelines, available on the ANNA website, has included following novelties:

- Rewording of the point 2.2 from “Special cases relating to assignment rules” to “Guid-ance relating to allocation rules”

- Incorporation of two new instruments: “carbon & credit emissions” and “stock dividends” into Section 3: “Financial instru-ments other than securities”

- Elimination of the “domestic & international” differentiation in the Debt issues (point 2.2.2)

- Amendment of the item referring to “Deposi-tary receipts” by distinguishing the equity and debt cases (point 2.2.14)

- Inclusion of allocation rules for “structured products” and “combined instruments”

- Removal of Bank loans from “Section 8: Financial instruments out of scope of ISO 6166”

Whereas some of the preceding points (the first two) are a consequence of the ordinary activity and allow to cover the market needs, the last four ones come directly from the necessary alignment between the Guidelines and the last edition of the ISIN standard (ISO 6166) pub-lished in 2013.

Additionally, the WG2 dealt with other topics relating to guidance on ISIN allocation and specific market practices, trying to find the best possible solutions in order to adopt uniform and clear rules.

Lastly, I would like to give a reminder that all ANNA members are invited to contact the WG if they have any basic questions or need any assistance with regards to ISIN allocation matters.

Óscar GarcíaWG2 Convenor

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WG5 (Legal Entity Identifier - LEI)

WG5 was created October 2013. The mission statement is

➢ “The ANNA LEI Working Group will establish procedures that members of ANNA can follow to ensure the implementation of LEI in accordance with the rules and regulations pub-lished by the FSB and the ROC.

➢ The group will create a basis for members of ANNA to become a LOU, or to assist a LOU in its area of jurisdiction.

➢ The group will furthermore establish the necessary foundation for ANNA members’ contributions to establish-ing a COU, and will work together with the ROC to support the LEI implemen-tation project and to share its experi-ence.”

The WG was to focus on: ➢ Establishment of a basis for ANNA

and its members enabling the mem-bers to serve their own area of juris-diction

➢ Seeking contact with regulators, the ROC

➢ Investigating the possibilities of ANNA becoming COU

➢ Creating a model for updating LEIs on ASB

Due to latest developments the decision was reported at the Bali meeting to put the WG’s work on hold.

A reason for putting WG5 on hold was last year’s establishment of the GLEIF (Global LEI Foundation) by the ROC This entity has been commissioned to establish the COU as the LEI reference database. Therefore, it became clear for already appointed pre-LOUs (at least those which are ANNA members) that the possibilities for influencing the process were limited - if not impossible.

Moreover, the WG realised that becoming a pre-LOU is a local political issue/decision which neither ANNA nor WG5 in any way could influence.

Finally, it seems that the regulatory decision to extend the LEI beyond derivatives has been stopped even though regulators on a regular basis confirm that it is still the intention to expand the LEI to all institutions and legal persons playing a role in the financial industry.

However, the status on the LEI implementa-tion is the following:

As of 31 March, 25 entities were recognized as pre-LOUs ■ 23 of them are operational ■ 16 pre-LOUs are European based ■ So far, 11 ANNA members have been

appointed as pre-LOUs – all operational ■ Some regulators have decided to act as

pre-LOUs themselves without consider-ing the consequences and the impact.

■ There is a “wait and see” attitude in several countries

■ ROC established GLEIF which has presented the business model

■ COU will be formed as a legal entity responsible for establishing a central database for LEIs. Running costs are expected to be very high.

■ The GLEIF has announced the annual fee for assigned LEIs ($ 20 per LEI per year) and an additional fee for estab-lishing the COU ($ 10 per LEI per year)

■ On top of these fees additional fees are charged by the LOU

■ ROC has established a pre-LOU forum and invited to regular meetings.

Niels HougaardWG5 Convenor

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ANNA Task Force 20 (Implementation of new standards)

TF 20 dealt essentially with the FISN in the past. No activities have taken place during the last reporting period, due to two reasons.

First, the implementation of the new version of ISO 18774 is pending; An implementation of the previous version of the standard at the NNA’s sites does not make sense anymore. It is much more appropriate to implement the new version as soon as possible.

Second, many NNAs still need to implement the NRS (New Record Structure) to be able to feed the ASB once the new ISO 18774 has been implemented at their site. 

Nourredine Yous TF20 Convenor

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ANNA African and Middle East Regional Group (AMERG)

• Contacted the Libyan and the Syrian NNA to get update on their current situation and if they could attend an ANNA meeting or give a PoA (Libya).

• Rearranged dates and coordinated with members to allow members to attend AMIDA GM and ANNA GM.

• Invited the Sudan Stock Exchange to become a member in ANNA and have a meeting to provide them with all informa-tion about ANNA and how to become a member.

• Contacted Palestine, Tunisia and South Africa to ask them to submit their master files in the new record structure and attend the next ANNA GM in Dublin in because they hadn’t attended four consecutive ANNA meetings.

• Notified all AMERG members about the new ISO version of the CFI, and encour-age those members who don’t allocate yet to start the CFI allocation.

Dr. Tarek Abdel BaryAMERG Convenor

Regional Group Reports 2014

ANNA Latin American Regional Group (ALARG) Caja de Valores S.A., as ALARG’s Regional Manager, is very pleased to share with the ANNA Membership a summary of the ANNA related matters occurred during 2014 in the Latin American region.

Communication between Caja de Valores S.A. and the Regional NNAs has been continuous, mostly focused on the ASB New Release, and also resolving diverse questions with refer-ence to ISIN and CFI allocation.

During 2014 two NNAs became ANNA Full Members: Entidad de Depósito de Valores (Bolivia) and CEVALDOM (Dominican Repub-lic NNA). Caja de Valores S.A. provided assistance to both entities in the transition process.

The ACSDA General Assembly which took place on April in Santiago de Chile, gave us the possibility of giving a presentation on ANNA & LEI, and also to interact with other regional NNAs.

The ALARG 2014 Annual Meeting was held in Lima, Peru in October, and 11 regional

representatives attended the meeting. The main agenda items included the ASB New Release, Relocation and Membership Compli-ance. Standardization was also covered in the meeting (LEI, New ISO 6166 version, MIC).

The last ANNA meeting that was organized in Latin America was the one held in November 2013 in Cancun, Mexico. This was a very fruit-ful forum for the regional NNAs and all the ANNA community. That’s why we are very happy to have once more the opportunity of welcoming the ANNA family in a General Meeting to be held in Costa Rica, in Novem-ber 2015. On this occasion the meeting will be hosted by Central de Valores, the Costa Rican NNA. A workshop will also be organized prior to the meeting sessions.

As one of the most important objectives of ALARG (to have full coverage of NNAs in the Region) was reached during 2012, the new aim is to encourage those NNAs with a Partner status to become ANNA Full Mem-bers. Hopefully all Latin American NNAs will soon play an active role within the Associa-tion.

Eliana SanchezALARG Convenor

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Regional Group Reports 2014

APARG Report

The Asia-Pacific Regional Groups (APARG) were formed via an approved membership resolution which was endorsed at the ANNA AGM of June 2013 held in Rome Italy. Due to the large number of members and partners that are located in the Asia Pacific region, it was determined that two groups should be formed, namely APARG East and APARG West This would allow for more effective management of the discussion items and any arising actions.

The objective behind the formation of the two groups was in part, to mirror the success of the Latin American Regional Group by estab-lishing an information sharing forum in the APAC region. The main purpose was to establish a regional interface where ANNA related information and experiences can be shared amongst the members and partners – in the spirit of mutual cooperation.

Discussions amongst the participating mem-bers remain largely ad hoc through the course of 2014. Action items and assistance from APARG members therefore are initiated at the request of the convenor or APARG partici-pants when needed.

Focus was put on the following subjects during the course of 2014:

• Letters from ANNA Chairman to support specific ISIN assignment matters in certain jurisdictions;

• ASB 2014 release (preparation)• Joint meeting with Philippine Stock

Exchange and Regulator (coordinated by ANNA) to address ISIN assignment coverage and plans in the short to medi-um term;

• ISIN assignment coverage and accessibil-ity matters;

• ANNA Member and partner compliance matters;

• Presented ANNA overview at ASEAN+3 Asian Bond Market Forum;

• Main discussion topics arising at ANNA AGMs and EGMs

The organisation of the two groups is as follows:

APARG EAST

Organisation ANNA Membership StatusCentral Depository Bangladesh Ltd Full MemberSecurities and Exchange Board of India Full MemberSecurities Board of Nepal PartnerCentral Depository Company of Pakistan Ltd Full MemberColombo Stock Exchange, Sri Lanka Full MemberThailand Securities Depository Co. Ltd Full MemberVietnam Securities Depository Full Member

APARG WEST

Organisation ANNA Membership StatusAustralian Stock Exchange Full MemberChina Securities Regulatory Commission Full MemberHong Kong Exchanges and Clearing Full MemberKSEI – Indonesian Central Securities Depository Full MemberTokyo Stock Exchange Full MemberKorea Exchange Full MemberBursa Malaysia Full MemberMongolian Securities Clearing House and Central Depository Company

Partner Member

Singapore Exchange Limited Full MemberTaiwan Stock Exchange Corp. Full Member

Dan KuhnelAPARG Regional Manager

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List of members by COUNTRY as per May 2015

Caja de Valores S.A. Ms Eliana Sánchez, Ms Rosana Verdi, Mr Juan Carlos Mariano, Dr Martín Paladino 25 de Mayo 362 – 1er Subsuelo C1002ABH – Buenos Aires ARGENTINA Telephone: (54) 11 43 17 89 52 Telefax: (54) 11 43 17 89 99 E-Mail: cvsa.anna@cajval.sba.com.ar

Central Depository of Armenia OJSC Ms Nvard KarapetyanDepository System Servicing Dept. Specialist5b Mher Mkrtchyan0010 YerevanARMENIATelephone: +374 10 543 321 ext. 127 nvard.karapetyan@nasdaqomx.am

Australian Securities Exchange Mr John WilliamsGeneral Manager, Listings Operations Exchange Centre20 Bridge Street Sydney, NSW 2000 AUSTRALIA Telephone: (612) 9227 0463 E-Mail: john.williams@asx.com.au

Oesterreichische Kontrollbank AG Mr Gerald Kraft Strauchgasse 1-3 1010 Vienna AUSTRIA Telephone: (43) 1 531 27 2245 Telefax: (43) 1 531 27 4030 E-Mail: gerald.kraft@oekb.at

National Depository Center Mr Araz Aliyer CEO  19, Bul-bul Avenue Baku AZ 1000 REPUBLIC OF AZERBAIJAN Telephone: +99 412 493 4530   Telefax: +99 412 598 35 50 E-Mail: araz.aliyer@mdm.az

Bahrain Bourse B.S.C (c) Mr Abdulla Jaffar Abdin Head of Settlement & Central DepositoryP.O. Box 3203 Manama KINGDOM OF BAHRAIN Telephone: (973) 17 108844 Telefax: (973) 17 228061  E-Mail: Abdulla.abdin@bahrainbourse.com.bh  

Central Depository Bangladesh Ltd. Mr M H Samad Managing Director & CEO BSRS Bhaban (18th Floor) 12 Kawran Bazar Dhaha 1215 BANGLADESHTelephone: + 8802 9137756   Telefax: + 8802 812 4630   E-Mail: cdbl@bol-online.com

SIX Financial Information Belgium S.A./N.V. acting as numbering agency on behalf of Euronext Brussels as official National Numbering AgencyMr Wil KampertDirector Data Operations Benelux 29 Boulevard Louis Schmidt/Schmidtlaan 1040 Brussels BELGIUM Telephone: (32) 2 790 05 15 E-Mail: wil.kampert@six-group.com

Euroclear Bank S.A./N.V.Euroclear Bank Hong Kong Branch  Mr Dan KuhnelDirector - Primary Markets & Int‘l Fixed Income securities  20/F Central Plaza 18 Harbour Road Wanchai HONG KONG   Telephone: +852 3966 5623  Telefax: +852 3966 5500  E-Mail: dan.kuhnel@euroclear.com

Entidad de Depósito de Valores de Bolivia S.A. Ms Isabel Pantoja Barroso General ManagerAvenida 20 de Octubre y Campos Nº 2665Edificio Torre Azul, Piso 12La Paz BOLIVIATelephone: (591-2) 2110690 / 2145109 / 2145110Telefax: (591-2) 2110685E-Mail: ipantoja@edv.com.bo

BM&F – BOVESPA S.A. Mr Nelson Barroso Ortega   Issuer Relations Manager  Rua XV de Novembro, 275 – 6th Floor 01013-001 Sao Paulo-Sp BRAZIL Telephone: (55) 11 2565 6063  Telefax: (55) 11 2565 7061  E-Mail: nortega@bvmf.com.br

Central Depository AD Mr Julian Dinkov Head of Finance and Administration Directorate  6, Tri Ushi Str. 1301 Sofia BULGARIA Telephone: (359) 2 939 1988 Telefax: (359) 2 939 1998 E-Mail: J.Dinkov@csd-bg.bg

The Canadian Depository for Securities Ltd. Mrs Margaret ReidSenior Manager, Issuer Services  85, Richmond Street WestToronto, Ontario M5H 2C9 CANADA Telephone: (1) 416 365-3853 Telefax: (1) 416 365 7691 e-mail: MReid@cds.ca

Depósito Central de Valores Mr Claudio Garin Gerente de Operaciones y Servicios Huerfanos 770, piso 22 Santiago CHILE Telephone: (56) 2 393 9068 Telefax: (56) 2 393 9015 E-Mail: cgarin@dcv.cl

China Securities Regulatory Commission Mrs Juan DU Deputy Section Chief1019 Room Focus Place Tower A 19 Jin Rong Street Xi Cheng District Beijing 100033 P.R. CHINA Telephone: (86) 10 88060197 Telefax: (86) 10 88060574 E-Mail: dujuan@csrc.gov.cn

DECEVAL S.A. Mr Jorge Hernán Jaramillo OssaPresidencia Carrera 10 No. 72-33 piso 5 Bogotá COLOMBIATelephone: (571) 37 65 460 Ext. 1742 Telefax: (571) 3459949 E-Mail: jhjaramillo@deceval.com.co

Central de Valores de la BNV S.A. Mr José Rafael Brenes Vega General Manager  P.O. Box 1736 1000 San José COSTA RICA Telephone: (506) 22044910  Telefax: (506) 22044983  E-Mail: jbrenes@bolsacr.com

UEMOA c/o Bourse Régionale des Valeurs Mobilières - Afrique de l‘Ouest  Regional Stock Exchange - West AfricaMr Edoh Kossi AmenounveCEO01 BP 3802 Abidjan 01 18, Rue Joseph Anoma (Rue des Banques) Abidjan CÔTE D‘IVOIRETelephone: +225 20 32 66 85/86Telefax: +225 20 32 66 84E-Mail: brvm@brvm.org    

Central Depository and Clearing Company Inc. of Croatia Mrs Vesna Živković President of Management Board  Heinzelova 62 A 10000 Zagreb CROATIA Telephone: (385) 1 46 07 330 Telefax: (385) 1 46 77 696 E-Mail: skdd@skdd.hr

Cyprus Stock Exchange Mr Nondas Cl. MetaxasDirector General - CEO  Lordou Vironos Avenue N° 71-73 1096 Nicosia CYPRUS Telephone: (357) 22712526  Telefax: (357) 22 570 308 E-Mail: info@cse.com.cy

Central Securities Depository  Ms Helena Cacká CEORybná 14 110 05 Praha 1 CZECH REPUBLIC Telephone: (420) 221 832 803  Telefax: (420) 224 814 193 E-Mail: hruskova@pse.cz

VP Securities Services Mr Niels W. HougaardSenior Product Manager  P.O. Box 4040 2300 Copenhagen S DENMARK Telephone: (45) 43 58 8785  Telefax: (45) 43 71 20 03 E-Mail: nwh@vp.dk

CEVALDOMMr Freddy RossiGeneral ManagerAv. Gustavo Mejía Ricart No.54 Torre Solazar Business Center Piso 18, Ensanche Naco Santo DomingoDOMINICAN REPUBLICTelephone: (1 809) 227 0100 Telefax: (1 809) 562 2479  E-Mail: frossi@cevaldom.com

MISR for Clearing, Depository & Registry (MCDR) Mr Nader IsmailInformation Systems Auditor  70, El Gomhoria St. P.O. Box 1536 – Attaba Cairo EGYPT Telephone: (20)1006603454  Telefax: (20) 225971656  E-Mail: n.nabil@mcsd.com.eg

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Eesti Väärtpaberikseskus (Estonian CSD) Ms Hele ReinloRegistry specialist Tartu Mnt. 2, 14 Floor 10145 Tallinn ESTONIA Telephone: (372) 640 8857E-Mail: hele.reinlo@nasdaq.com

Euroclear Finland Ms Anu Saarinen Director, Product Management Urho Kekosen Katu 5 C P.O. Box 1110 00101 Helsinki FINLAND Telephone: (358) 20 770 6288 E-Mail: anu.saarinen@euroclear.eu

Euroclear France Mrs Sylvie Fournier  Operations 66 rue de la Victoire  75009 Paris FRANCE Telephone: (33) 1 55 34 58 24Telefax: (33) 1 55 34 58 67  E-Mail: sylvie.fournier@euroclear.com

WM Datenservice Duesseldorfer Strasse 16 60329 Frankfurt am Main GERMANY Telephone: (49) 69 27 32 226 Telefax: (49) 69 27 32 7226 E-Mail: secretariat@anna-web.com

Hellenic Exchanges S.A Ms Dimitra Tsampourianou Head of Issuer Support and Listing Dept. 110 Athinon Avenue 104 42 Athens GREECE Telephone: (30) 210 33 66 446 Telefax: (30) 210 33 66 670 E-Mail: d.tsampourianou@helex.gr

Bolsa de Valores Nacional, S.A.Mr Rolando San RománGeneral Manager7a. Ave. 5-10, Zona 4 Centro Financiero, Torre 2 Nivel 9 01004 Guatemala City GUATEMALA Telephone: +502-2332-2921 Telefax: +502-2332-1721E-Mail: rolando@bvnsa.com.gt 

Hong Kong Exchanges and Clearing Ltd Mr Henry LawHead of Corporate Communications  12/F, One International Finance Centre 1 Harbour View Street – CentralHong Kong HONG KONG Telephone: (852) 2522 11 22 Telefax: (852) 2868 4084 E-Mail: info@hkex.com.hk

KELER – Central Clearing House andDepository (Budapest) Ltd. Mr György DudásCEO  Rákóczi út 70-72  1074 Budapest HUNGARY Telephone: (36) 1 483 6116 Telefax: (36) 1 342 3575 E-Mail: dudas.gyorgy@keler.hu

Nasdaq CSD Iceland hf Mrs Guðrún BlöndalCEO  Laugaveg 182 Reykjavik 105 ICELAND Telephone: (354) 540 55 01 Telefax: (354) 540 55 19 E-Mail: gb@vbsi.is

Securities and Exchange Board of India - SEBI Ms Maninder Cheema Deputy General Manager, Market Regulation Department - Division of Policy  Plot No C4-A, „G” Block, Bandra Kurla Complex Bandra (East) Mumbai 400 051 INDIA Telephone: (91) 22 26 44 97 54Telefax: (91) 22 26 44 90 31 E-Mail: maninderc@sebi.gov.in

PT Kustodian Sentral Efek Indonesia (KSEI - Indonesian CSD) Mr SyafruddinHead of Research and BusinessDevelopment Division Indonesia Stock Exchange Building Tower 1, 5th Floor Jl. Jend.Sudirman Kav. 52-53 Jakarta 12190 INDONESIA Telephone: (62) 21 529 91041 Telefax: (62) 21 529 91052 E-Mail: alec@ksei.co.id

Tehran Securities Exchange Technology Management Company  Mr Abbas Ahmadi  No 2, 6th St; Sarafraz St; Beheshti Ave Tehran IRAN Telephone: (98) 21 8430 1393Telefax: (98) 21 88748120 E-Mail: a.ahmadi@tsetmc.com

The Irish Stock Exchange Mr James Ferguson Head of Operations 28 Anglesea Street Dublin 2 IRELAND Telephone: (353) 1 617 4200 Telefax: (353) 1 677 6045 E-Mail: james.ferguson@ise.ie

Tel Aviv Stock Exchange Mr Shlomo Friedman Head of Trading Methods Unit Ahuzat Bayit Street 2  Tel Aviv 6525216 ISRAEL Telephone: (972) 3 567 76 87 Telefax: (972) 3 560 70 78 E-Mail: shlomof@tase.co.il

Banca d´Italia Mr Mario PalazzoHead of Securities Database Division  Centro Donato MenichellaLargo Guido Carli 1 00044 Frascati ITALY Telephone: (39) 06 479 24041 Telefax: (39) 06 479 28542 E-Mail: mario.palazzo@bancaditalia.it

Tokyo Stock ExchangeMr Hideaki Odaka  2-1, Nihombashi - Kabuto-Cho Chuo-Ku/Tokyo 103-8220 JAPAN Telephone: +81 50 3377 8926   E-Mail: h-odaka@jpx.co.jp

Securities Depository Center of JordanMr Khalil Naser Acting Chief Executive Officer P.O. Box 212465 Amman 11121 JORDAN Telephone: (962) 6 567 2550 Telefax: (962) 6 567 2622 E-Mail: ceo@sdc.com.jo

Central Securities Depository JSC Republic of Kazakhstan (KACD) Mr Bakhytzhan Kapyshev  PresidentMicro-district „Samal“-1 House 28 050051 Almaty REPUBLIC OF KAZAKHSTAN Telephone: (7) 727 3909549  Telefax: (7) 727 3909549 ext 115  E-Mail: csd@csd.kz

Korea Exchange - KRX Mr Jung Min Suh Associate Bond Listing Team 33 Yeouido-dong, Yeongdeungpo-gu  Seoul 150 - 977 KOREA Telephone: (822) 3774 8684 Telefax: (822) 6234 2102 E-Mail: listing2@krx.co.kr

Kuwait Clearing Company Mr Othman Al-Issa General Manager  P.O. Box 22077 Safat – 13081 Kuwait KUWAIT Telephone: (965) 2246 7866/7 Telefax: (965) 2246 9457 E-Mail: info@maqasa.com

Latvian Central Depository Mr Raitis Vancans Deputy Chairman of the Management Board Valnu Iela 1 Riga, LV 1050 LATVIA Telephone: (371) 67 212 431 Telefax: (371) 67 229 411 E-Mail: raitis.vancans@nasdaqomx.com

Midclear S.A.L.  Mr Fouad El KhouryChairmanAresco Center, 15th Floor Justinien Street - Hamra P.O.B. 11-7971 BeirutLEBANON Telephone: (961) 1 74 95 94 Telefax: (961) 1 347 910 E-Mail: fkhoury@midclear.com.lb

Libyan Stock Market Dr Ahmad Karoud (Mr) Managing Director  Benghazi - Islamic Building Center Alshatea Street Hai Aljazeera (Juliana) LIBYA Telephone: (218) 21 336 5050 Telefax: (218) 21 336 5025 E-Mail: a.karoud@lsm.gov.ly

Central Securities Depository of Lithuania – Lietuvos centrinis vertybiniu popieriu depozitoriumas, AB  Mr Mindaugas BakasPresident Lvovo g. 25 09320 Vilnius LITHUANIA Telephone: (3705) 263 85 13Telefax: (3705) 2721676  E-Mail: mindaugas.bakas@nasdaqomx.com

Clearstream Banking Mrs Ioulia PettiVice President-Core Product Management 42, Avenue JF Kennedy 1855 Luxembourg LUXEMBOURG Telephone: +352.243.39223 Telefax: +352.243.639223  E-Mail: ioulia.petti@clearstream.com

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Centralen depozitar za hartii od vrednost AD Skopje -Central Securities Depository AD Skopje Mrs Elena Jakimovska Petrovska  CEO Kuzman Josifivski Pitu 1 1000 Skopje REPUBLIC OF MACEDONIA Telephone: (389) 2 3299 806 Telefax: (389) 2 3227781 E-Mail: ejp@cdhv.mk

Bursa Malaysia Ms Hui Yin Wong Senior Manager, Exchange Market Data 8th Floor, Exchange Square Bukit Kewangan 50200 Kuala Lumpur MALAYSIA Telephone: (603) 2034 7648  Telefax: (603) 2026 3699 E-Mail: wonghuiyin@bursamalaysia.com Malta Stock Exchange Ms Stephanie GaleaManager - Compliance  Garrison Chapel Castille Place Valletta CMR01 MALTA Telephone: (356) 21244051 Telefax: (356) 25696316 E-Mail: sgalea@borzamalta.com.mt

Central Depository & Settlement Co. Ltd Mr Vipin Mahabirsingh Managing Director4th Floor, One Cathedral Square Jules Koenig Street Port Louis MAURITIUSTelephone: (230) 2113507 Telefax: (230) 2116880  E-Mail: vipin.mahabirsingh@cds.intnet.mu

S.D. Indeval, SA de C.V. Mr Arturo Navarro PlascenciaChief Operation Officer - Capital and International Market   Paseo de la Reforma N°255 - 3 Piso Col. Cuauhtemoc México 06500 D.F. MEXICO Telephone: (5255) 53 42 96 70 Telefax: (5255) 57 26 67 83 E-Mail: anavarro@indeval.com.mx

Central Depository Agency of Montenegro Mr Miomir Jovanovic Deputy CEO Novaska Miloseva bb 81000 Podgorica MONTENEGRO Telephone: (382) 69 320 623 Telefax: (382) 20 230 053 E-Mail: miomirj@t-com.me

Maroclear S.A. Ms Fathia Bennis CEO Route d’El Jadida18 Cité Laia Casablanca 20000 MOROCCO Telephone: (212) 5 22 239 000  Telefax: (212) 5 22 99 44 64  E-Mail: bennis@maroclear.com

Euroclear Nederland Mr Stuart Horgan Senior Mgr. ENL Asset Servicingand Change Mgr. ESES  Herengracht 459 - 469 1017 BS Amsterdam THE NETHERLANDS Telephone: (31) 20 552 1452  E-Mail: stuart.horgan@euroclear.com

Central Securities Clearing System Ltd Mr Kyari Bukar Managing Director / CEO 2/4 Customs Street, Off Marina Lagos NIGERIA Telephone: (234) 8034 048 080  E-Mail: bukar.kyari @cscsnigeriaplc.com

Verdipapirsentralen (VPS) ASA   Ms Vigdis DiesenHead of Client Services P.O. Box 40051 Oslo NORWAY Telephone: (47) 22 63 52 86 Telefax: (47) 22 63 52 00 E-Mail: vig@vps.no

Muscat Depository & Securities Registration Co. Mr Abdulla A. Suliman Al-Nabhani General Manager P.O. Box 952 - PC. 112 Ruwi SULTANATE OF OMAN Telephone: (968) 24 82 22 22Telefax: (968) 24 81 74 91E-Mail: a.nabhani@mcd.gov.om

Central Depository Co. of Pakistan Ltd. Mr Aftab Diwan – Chief Operating Officer CDC House 99-B, Block B, S.M.C.H.S. Main Shahra-e-Faisal Karachi - 74400 PAKISTAN Telephone: (9221) 34326032  Telefax: (9221) 34326034  E-Mail: aftab_diwan@cdcpak.com

Palestine Exchange (PEX) Mr Khaled Hamdan Manager Clearing, Depository & Settlement Center (CDS) Amman St. P.O. Box 128 Nablus PALESTINE Telephone: (970) 923 909 76  Telefax: (970) 923 909 98 E-Mail: Khaled.hamdan@pex.ps

Bolsa de Valores de Panamá, S.A. Ms Myrna E. Palomo Deputy General Manager P.O. Box 0823-00963 Panamá 7 REPUBLIC OF PANAMA Telephone: (507) 269 1966 Telefax: (507) 269 2457 E-Mail: mepalomo@panabolsa.com

Bolsa de Valores de Lima Mr Francis StenningGeneral Manager Pasaje Acuña 106 - AP 1538 Lima 100 PERU Telephone: (51) 1 619 3333 Telefax: (51) 1 619 3350 E-Mail: fstenning@bvl.com.pe

National Depository for Securities Dr Iwona Sroka (Mrs) President & CEO 4, Ksiazeca Street 00-498 Warsaw POLAND Telephone : (48) 22 53 79 353 Telefax : (48) 22 62 73 112 E-Mail: kdpw@kdpw.pl

Interbolsa Mr Jyrki Leppänen Avenida da Boavista, 3433 4100-138 Porto PORTUGAL Telephone: (351) 22 615 84 00 Telefax: (351) 22 610 30 29 E-Mail: jtl@interbolsa.pt

Qatar Financial Markets Authority Mr Sami Boujelben Chief Advisor - CEO Office Al Wehda Street (West Bay) Doha QATAR Telephone: (974) 44289977 Telefax: (974) 44289925 E-Mail: s.boujelben@gfma.org.qa

Depozitarul Central S.A. (Romanian Central Depository)Ms. Silvia Buicanescu Acting CEOIBC Modern building34-36 Carol I Blvd. 3 rd, 8th, 9th floors 020922 Bucharest II ROMANIA Telephone: (40) 21 408.59.26 Telefax: (40) 21 408.58.14 E-Mail: silvia.buicanescu@depozitarulcentral.ro

National Settlement Depository (MICEX Group)  Dr Eddie Astanin (Mr)Chairman of the Executive Board  12, Spartakovskaya Str 107066 Moscow RUSSIA Telephone: (7095) 232 5573 Telefax: (7095) 956 09 38 E-Mail: astanin@nsc.ru

Saudi Stock Exchange - Tadawul Mr Ayed Al-Ayed Head of Research and Development Dept. P.O. Box 60612 Riyadh 11555 SAUDI ARABIA Telephone: (966) 1 218 9121 Telefax: (966) 1 218 9133 E-Mail: Ayed.ayed@tadawul.com.sa

Central Securities Depository and Clearing House of Serbia Dr Ana Jovanovic CEO Trg Nikole Pasica No 5 Belgrade REPUBLIC OF SERBIA Telephone: (381) 11 3331 380 Telefax: (381) 11 3331 381 E-Mail: ana.jovanovic@crhov.rs

Singapore Exchange Ltd. Mr Kok Leong Lai   Vice President 2 Shenton Way # 19-00 SGX Centre 1 Singapore 068804 SINGAPORE Telephone: (65) 6236 8344Telefax: (65) 6535 2644   E-Mail: kokleong.lai@sgx.com

Centrálny depozitár cenných papierov SR, a.s. Central Securities Depository SR, Inc.Ms Dagmar Kopuncová Head of the Section of InternationalRelations and Media Communication Ul. 29. Augusta 1/A 814 80 Bratislava 1 SLOVAK REPUBLIC  Telephone: (421) 2 5939 5125 Telefax: (421) 2 5296 8755 E-Mail: international@cdcp.sk

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Appendix A: ISO 6166 – an outline of the standard

Securities - International securities identifi -cation numbering system (ISIN)

Introduction The standard provides a uniform structure for anumber, known as the ISIN, that uniquely iden-tifies securities. It details organisations, knownas National Numbering Agencies (NNA’s) thatare responsible for issuing the ISIN in eachcountry. In those countries where no NNA is inoperation, three NNA’s have agreed, on aregional basis, to act as Substitute NumberingAgency (SNA). Details of these are included inAppendix C. The following NNAs are desig-nated as SNA:– CUSIP Global Services for the Americas– Wertpapier-Mitteilungen (Germany) for

Eastern Europe, Asia-Pacific and Africa– National Settlement Depository NSD (Russia)

for countries of AECSD (Association ofEurasian Central Securities Depositories) pro-vided agreement has been given by theSupervizory Authorities of respective coun-tries

– SIX Financial Information (Switzerland) forremaining countries

ISINISIN consists of a total of 12 characters as follows:

The first two digits are reserved for the alpha-2country code as issued in accordance with theinternational standard ISO 3166 of the countrywhere the issuer of securities, other than debtsecurities, is legally registered or where it hasits legal domicile. For debt securities, the rele-vant country is the one of the ISIN – allocatingNNA. In the case of depository receipts, suchas ADRs, the country code is the one of theorganisation who issued the receipt instead ofthe one who issued the underlying security.

The next nine digits are taken up by the localnumber of the security concerned. Where thenational number consists of fewer than ninecharacters, zeros are inserted in front of thenumber so that the full nine spaces are used.

The final space is a check digit computedaccording to the modulus 10 “Double-Add-Double” formula.

Who issues the ISIN In the case of securities, other than debt secu-rities, where a NNA recognised by ANNA oper-ates, this organisation issues the ISIN for secu-rities whose issuer is registered or domiciled inthe country where the NNA operates. For debtsecurities the NNA who issues the ISIN iseither one of the international securities clear-ing organisations or the responsible NNA inaccordance with ISO 6166.

ISIN structure� � Country code 2 digits alphabetical

� � � � � � � � � NSIN* 9 digits alpha-numerical

� Check digit 1 digit numerical

*National Securities Identification Number

KDD – Central Securities Clearing Corp. Mr Iztok Klemenc Tivolska Cesta 48 1542 Ljubljana SLOVENIA Telephone: (386) 5614 88 27 Telefax: (386) 5614 88 59 E-Mail: iklemenc@kdd.si

JSE Ltd Mr Chris Grove Head: Market Services One Exchange Square 2 Gwen Lane Sandown, 2196  SOUTH AFRICA Telephone : (27) 11 520 7350 Telefax : (27) 11 520 8592 E-Mail : chrisg@jse.co.za

Comisión Nacional del Mercado de Valores (CNMV) Mr José M. AlonsoSubdirector de Sistemas de Información  C/ Edison, 4 28006 Madrid SPAIN Telephone: (34) 91 585 1537 Telefax: (34) 91 585 1630 E-Mail: alonso@cnmv.es

Colombo Stock Exchange Mr Nalin Fonseka  Manager  # 4-01 West Block World Trade Center Echelon SQ Colombo 00100 SRI LANKA Telephone: (94) 11 23 56 430 Telefax: (94) 11 24 40 396 E-Mail: nalin@cse.lk

Euroclear Sweden AB Ms Annette Nyström Manager Operations – Account & Asset Services Box 191 101 23 Stockholm SWEDEN Telephone: (46) 8 402 91 12 Telefax: (46) 8 20 46 91 E-Mail: annette.nystrom@euroclear.eu

SIX Financial Information Ltd Mr Nourredine Yous Executive Director   Postfach 1521 8021 Zurich SWITZERLAND Telephone: (41) 58 399 5450  Telefax: (41) 58 499 5450  E-Mail: nourredine.yous@six-group.com

Taiwan Stock Exchange Corporation Ms Rebecca Chen Senior Vice President of Trading Dept. 10/F – 7, Xinyi Road, Section 5 Taipei 11049 REPUBLIC OF CHINA (TAIWAN) Telephone: (886) 2 8101 3021 Telefax: (886) 2 8101 3683 E-Mail: 0047@twse.com.tw

Thailand Securities Depository Co, Ltd. Ms Pataravasee SuvarnsornVP Post Trade Development Dept. The Stock Exchange of Thailand Building 62, Rachadapisek Road, Klongtoey Bangkok 10110 THAILAND Telephone: (66) 2229 2993Telefax: (66) 2 359 1259   E-Mail: pataravasee@set.or.th@set.or.th

Tunisie Clearing Mr Maher ZouariChief Executive Officer  5 Rue du Yen, Les jardins du lac II  Les Berges du Lac  1053 Tunis TUNISIA Telephone: (216) 71 193 593  Telefax: (216) 71 193 620 / (216) 71 193 621 E-Mail: maher.zouari@tunisieclearing.com

Takasbank - Ìstanbul Takas ve Saklama Bankası A.Ş Mrs Zeynep ŞahinManager, International Markets Department Merkez Mah. Merkez Cad. N° 6 Sisli 34381 – Istanbul TURKEY Telephone: (90) 212 315 2187 Telefax: (90) 212 315 2214 E-Mail: zsahin@takasbank.com.tr

National Depository of Ukraine – Public Joint-Stock CompanyMs Olga Dolgopolova Board Member; Head of Numbering Department  17/8, Nyzhniy Val Str.  Kyiv, 04071 UKRAINE Telephone: +38 (044) 591-04-11 Telefax: +38 (044) 482-52-07  E-Mail: dol@csd.ua

Securities & Commodities Authority – ESCA  Mr Abdullah Salem Al-TurifiCEO  P.O. Box 33733 Hamdan StreetAbu DhabiUNITED ARAB EMIRATES  Telephone: (971) 2 612 0140  Telefax: (971) 2 627 4600 E-Mail: alturifi@sca.ae

London Stock Exchange Mrs Emma KalliomäkiHead of SEDOL Masterfile   10 Paternoster Square London EC4M 7LS UNITED KINGDOM Telephone: (+44) 207 797 4156   Telefax: (+44) 207 920 4564  E-Mail: EKalliomaki@lseg.com

CUSIP Global ServicesMr Jim TaylorVice President & Managing Director CGS  55 Water Street, 45th Floor New York/N.Y. 10041 UNITED STATES OF AMERICA Telephone: (1) 212 438 1175 Telefax: (1) 212 438 6581 E-Mail: jim.taylor@cusip.com

Bolsa de Valores de Caracas, C.A. Mr Enrique RosalMarket and Listed Companies Manager Avenida Sorocaima entre avenidas Venezuela y Tamanaco Edificio Atrium, Piso 1, Urbanización El Rosal Apartado de Correos 62724-A Caracas 1060-A VENEZUELA Telephone: (58) 212 905 5703 Telefax: (58) 212 905 5721 E-Mail: erosal@bolsadecaracas.com

Vietnam Securities Depository Ms Hoang Lan Huong Phuong ChairwomanNo 15 Doan Tran Nghiep Street Hai Ba Trung District 10000 Hanoi VIET NAMTelephone: (84) 43 9747 116 Telefax: (84) 43 9747 126E-Mail: huongphl@vsd.vn 

ANNA Secretariat – c/o WM Datenservice Mr Uwe Meyer Duesseldorfer Strasse 16 60329 Frankfurt am Main GERMANY Telephone : (49) 69 27 32 226 Telefax: (49) 69 27 32 7226 E-Mail: secretariat@anna-web.com

Chairman’s Report 2014

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Appendix A: ISO 6166 – an outline of the standard

Securities - International securities identifi -cation numbering system (ISIN)

Introduction The standard provides a uniform structure for anumber, known as the ISIN, that uniquely iden-tifies securities. It details organisations, knownas National Numbering Agencies (NNA’s) thatare responsible for issuing the ISIN in eachcountry. In those countries where no NNA is inoperation, three NNA’s have agreed, on aregional basis, to act as Substitute NumberingAgency (SNA). Details of these are included inAppendix C. The following NNAs are desig-nated as SNA:– CUSIP Global Services for the Americas– Wertpapier-Mitteilungen (Germany) for

Eastern Europe, Asia-Pacific and Africa– National Settlement Depository NSD (Russia)

for countries of AECSD (Association ofEurasian Central Securities Depositories) pro-vided agreement has been given by theSupervizory Authorities of respective coun-tries

– SIX Financial Information (Switzerland) forremaining countries

ISINISIN consists of a total of 12 characters as follows:

The first two digits are reserved for the alpha-2country code as issued in accordance with theinternational standard ISO 3166 of the countrywhere the issuer of securities, other than debtsecurities, is legally registered or where it hasits legal domicile. For debt securities, the rele-vant country is the one of the ISIN – allocatingNNA. In the case of depository receipts, suchas ADRs, the country code is the one of theorganisation who issued the receipt instead ofthe one who issued the underlying security.

The next nine digits are taken up by the localnumber of the security concerned. Where thenational number consists of fewer than ninecharacters, zeros are inserted in front of thenumber so that the full nine spaces are used.

The final space is a check digit computedaccording to the modulus 10 “Double-Add-Double” formula.

Who issues the ISIN In the case of securities, other than debt secu-rities, where a NNA recognised by ANNA oper-ates, this organisation issues the ISIN for secu-rities whose issuer is registered or domiciled inthe country where the NNA operates. For debtsecurities the NNA who issues the ISIN iseither one of the international securities clear-ing organisations or the responsible NNA inaccordance with ISO 6166.

ISIN structure� � Country code 2 digits alphabetical

� � � � � � � � � NSIN* 9 digits alpha-numerical

� Check digit 1 digit numerical

*National Securities Identification Number

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Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

1. INTRODUCTION

The ISO 6166 standard describes the structure of the ISIN codes and which organizations are allowed to allocate ISIN codes to which securities.

The aim of the guidelines is to obtain a uniform process among the various National Numbering Agencies for the allocation of ISIN codes.

In line with the ISIN Quality Management concept, as defined by the Association of National Numbering Agencies (ANNA, registration authority for ISO 6166), we encourage the use of the list of Operational Contacts - as indicated on ANNA web for the majority of NNAs - to ensure timely and proper allocation of ISIN codes.

This document is a live document which shall be reviewed periodically.

1.1 Identification of a financial instrument

The allocation of an ISIN represents the identification of a financial instrument rather than the market a financial instrument trades on (except for options, futures and commodities). Fungible securities will be identified by one ISIN.

1.2 General definition of fungibility

Set of goods which are equivalent, substitutable, and interchangeable and which are not individualized.

Since securities can be individualized by numbers or through a registered form, we will use the following definition:

Fungibility within the securities industry means that a security ranks pari passu in all respects with a different version of the same security and can be exchanged into the other form and vice versa at any time.

1.3 Rights potentially attached to fungible securities

Right to sellRight to voteRight to receive a payment (coupon, redemption) on the same dateRight to participate in a corporate action in the same wayRight for any holder to hold any form

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Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

2. EXCEPTIONS

2.1 Specific cases relating to fungibility

Should the securities be considered as fungible in this case?

2.1.1 Different market places YES, if the security is tradeable in different market places.

2.1.2 Rights difference between different market places in case of corporate action, payment interest/dividends

YES, if it is only a technical difference.Technical differences are already managed by depositories and clearing organization for their deliveries.NO, if the securities are lodged in different codes to distinguish the different rights between holders of the various market places.

2.1.3 Subsequent tranches YES, if the securities have identical terms and may be used to settle trades in either tranches, forms or markets without any delay be-cause of possible actions.NO, in other cases until the assimilation.

2.1.4 Securities issued in bearer and/or registered form

YES, if the securities are fully exchangeable

NO, if the securities are not fully exchangeable

2.1.5 Change of issue from bearer to registered form or from registered to bearer form at the initiative of the issuer

NO, if the holder does not have the same rights until the exchange.

2.1.6 Representative certificates

YES, in France Euroclear France is allowed to rematerialize French securities to be delivered in some foreign countries. Euroclear France acts in substitution to the issuer and in fact replaces the dematerial-ized securities by a materialized form. Holders of representative certificates have the same rights as the previous ones.

Where share certificates are issued, two general rules will apply:

NO, if dematerialized (i.e. German, Swiss, Dutch certificates) or materialized (i.e. IDR, ADR) secondary paper is issued.YES, if no secondary paper is issued. An NNA may assign a „Dum-my“ (i.e. „Q“ range of ISINs) ISIN for use within their local market.

2.1.7 Corporate actions YES, if the securities confer to the new holders the same rights as to the previous ones (e.g. subscription of shares with the same rights as the old shares).NO, if the new shares are not fully exchangeable or if an exchange or a future assimilation is required. Another code permits a distinction between the old and the new securities and the rights attached to those.

2.1.8 Partly paid/fully paid/nil paid

NO, until the full payment if an additional payment is required.

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2.2 Guidance relating to allocation rules

2.2.1 Allocation of ISINs in terms of debt instru-ments, issued with warrant(s) (i.e. cum or technical cum)

Debt instruments cum and ex warrant(s) must be registered separa-tely by the depository bank. Accordingly, the financial instruments should get at least 3 ISINs:- 1 for the debt instrument cum warrant(s)- 1 for the debt instrument ex warrant(s)- 1 for each warrantN.B.: If several kinds of warrants are attached, the number of ISINs assigned increases accordingly. Moreover, all the above ISINs have the same prefix as the one used for the related debt instruments as stipulated in ISO 6166.

2.2.2 Debt issues where tranches are deposited in more than one (I)CSD

lf tranches are not fungible, then two ISINs should be assigned.Criteria of non-fungibility: transfer restrictions

2.2.3 Partial reimbursement of capital when repayment equally to all holders at the same time

There is no need to allocate new ISINs, even if the payment effects a change of denomination amount.

2.2.4 Issues with different denominations

SharesIf different categories of shares were issued, then each value should receive its own ISIN. If certificates consist of multiple of shares, only one ISIN should be assigned.

BondsOnly one ISIN for different denominations if fungible.

2.2.5 Taxable/Non-taxable securities

Tax considerations may not affect the allocation rules of ISINs, if the securities are fungible.

2.2.6 ISINs for rights ISINs should be allocated for rights (according to ISO 6166).

2.2.7 Issues with 2 or more tranches

Tranches with different issue prices get different ISINs upon issuance, but have to be assimilated after the first coupon payment.

2.2.8 Warrants issued by foreign branches of banks

When such branches have no separate legal entity the ISIN-prefix will be the one of the headquarters country. If the branch is a separate le-gal entity (i.e. within a specific local market), the country of the bran-ch should be considered for the allocation and the prefix accordingly (e.g. warrants issued by foreign bank branches).

2.2.9 European financial and referential instruments

Financial and referential instruments issued in the European Union but not relating to a specific EU country jurisdiction would be alloca-ted an ISIN with an EU-prefix by WM Datenservice.Examples- Financial instrument: EFSF medium term notes EU000A1G0A57- Referential instrument: Euribor 3 months EU0009652783

2.2 Guidance relating to allocation rules continued

2.2.10 Preferred shares Preferred shares issued in unit form (that are being treated as debt) will be assigned the relevant ISIN by the NNA located in the issuer’s country of incorporation and set up as equity.Preferred shares issued in nominal form (that are being treated as debt) will be assigned an XS ISIN (if being held directly with the ICSDs) and set up as bond.Preferred shares that are being treated as equity will be assigned the relevant ISIN by the NNA located in the issuer’s country of incorpora-tion and set up as equity.

2.2.11 RegS/144A debt issues The RegS and/or 144A portion is deposited with a US CSD (only), it will bear the US prefix.The RegS and/or 144A portion is deposited with Euroclear Bank / Clearstream Banking, it will bear an XS-ISIN.

Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

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Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

In case of a bifurcated structure or split note, a minimum of 2 and maximum of 4 unique ISINs will be allocated by the relevant numbe-ring agency in accordance with the place of deposit as described in Annex A entitled “ISIN allocation rules for debt instruments issued under rule 144A and Regulation S” which forms an integral part of these guidelines.

2.2.12 RegS/144A for war-rants

When RegS/144A rules apply to warrants they will exceptionally bear a US prefix without reference to the country of the issuer, as this is normally the case for instruments referenced under the category „Rights“.

2.2.13 Common investment funds

For funds, the issuer country means the country where the fund is registered. If this information is missing or not available at the time of the ISIN allocation, tax implications (i.e. country where tax is paid) would apply as the reference country for allocation of the ISIN.

2.2.14 Depositary receipts representing an equity instrument Depositary receipts representing a debt instrument

Equity rule applies where the depositary bank issues the depositary receipt representing equity. Allocation rule is Alpha-2 country code of the country where the depositary bank issuing the depositary receipt is legally registered or, in the absence of registration, has their legal domicile.

The rules applicable to the underlying debt instruments also apply to this instrument type.

2.2.15 Structured Products4 Allocation rule relating to Structured Products is “Alpha-2 country code of the country where the issuer is legally registered or, in the absence of registration, has their legal domicile”. However, current market practice being applied in major markets is based on Primary Place of Deposit:

2.2.16 Combined instruments3 The allocation rule for these instruments is “Alpha-2 country code of the country of the issuer”.

2.3 Country specific assignment practices – refer to point 7 ‘Numbering Agencies not in line with Guidelines’

2.3.1 Australia Delisted instruments - A temporary ISIN can be allocated in cases where a security is de-listed from the ASX (Australian Stock Ex-change).

Re-use of ISIN for warrants – ISIN codes for Australian warrants con-tain the ASX code for the issuer and characteristics of the instrument type. Re-use can occur after at least 45 business days.

2.3.2 Russia Separate ISIN allocation for new issue of equity shares, with same rights, until they are merged with the principal shares.New shares circulate separately from principal shares for several months and are not fungible during this time. The new shares can be cancelled by the Regulator during this period. Upon confirmation from the regulator, the new shares will rank pari passu and the ISIN for the new shares will be made inactive.

2.3.3 USA Allocate ISIN codes to bank loans.

2.3.4 Italy Different tranches of Italian debt securities subject to pro rata tempo-ris taxation under the provisions of Legislative Decree 239 of 1 April 1996 (LD 239/96) are only fungible, and can only bear the same ISIN, if the issue price, redemption price, issue date and redemption date to be used for tax purposes are identical (e.g. through application of Article 11 (2) of LD 239/96).

2.3.5 Hong Kong For all securities products (except debt securities) traded on the Stock Exchange of Hong Kong in multiple currencies, securities tra-ded in different currencies should receive its own ISIN.

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Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

3. FINANCIAL INSTRUMENTS OTHER THAN SECURITIES

Financial Instruments Example

3.1 Currencies The ISIN should bear the prefix of the issuer country in case of single currency. For cross rates, the prefix should correspond to the issuer country of the fixed currency of the ratio.

Euro EU0009656420

USD US9117941131

3.2 Indices Stock exchange indices: The allocation of ISINs should occur with the prefix of the domicile of the exchange.Other referential indices: The allo-cation of ISINs should occur with the prefix of the country of the calcula-ting agent.

FTSE 100 Index GB0001383545

IBEX 35 ES0SI0000005

S&P500 Index US78378X1072

3.3 Interest rates Referential interest rates as defined by term and currency, used in the financial sector and calculated by financial institutions.The ISIN should bear the prefix of the originator‘s country.

1-Year MIBOR ES0S00000018

12-Month LlBOR GB00B5M93442

3.4 Commodities One ISIN per good and domicile of the exchange, even if several exchanges exist in the same country. The different quali-ty degrees within the same good should not be taken into account.

Lampante Olive Oil ES0SM0032042

3.5 Options Each contract defined by expiration date, option type, strike price, cur-rency and underlying instrument will get an ISIN. The ISIN gets the prefix of the count-ry of the exchange or MTF issuing or registering and clearing the specific derivative instrument.

MEFF ES0A00482836OPC 06 2012 VTA TEF 16,00

LIFFE GB00DBYV2Y13PEARSONCALL OPTION 15/06/12 GBX100

3.6 Futures Each contract defined by expiration date, currency and underlying instru-ment will get an ISIN. The ISIN gets the prefix of the country of the ex-change or MTF issuing or registering and clearing the specific derivative instrument.

MEFF ES0B00017433FUT 12 2011 BBVA

TURQUOISE GB00D62FXB42GAZPROM ADR FUT 15/07/11 USD

3.7 Contracts for Differences (CfDs)¹

Each CfD defined by standardized contract specifications and traded on an organised exchange or market place will get an ISIN. The ISIN gets the prefix of the country of the ex-change issuing the specific CfD.

3.8. Carbon credits & emissions

Types of carbon instruments: -European Union Allowances, com-monly referred to as EUA, are issued specifically for the European Trading System (ETS) and in accordance with the Kyoto Protocol compliance regime. The ISIN assigned for each EUA gets the EU prefix.

-Certified Emission Reduction, com-monly referred to as CER, are issued as part of the Clean Development

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Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

Financial Instruments Example

Mechanism (CDM) projects and in accordance with the Kyoto Protocol compliance regime.  Projects are typically hosted in developing coun-tries. The ISIN gets the prefix of the country where the project is hosted.

-Voluntary Emission Reduction or Verified Emission Reduction, commonly referred to as VER, are issued outside of the Kyoto Proto-col compliance regime. VER credits are based on carbon off set pro-jects.  Generally, VER‘s are not liquid credits and do not have a transpa-rent and clear market for exchange.The ISIN gets the prefix of the count-ry where the project is hosted.

3.9. Stock dividends Stock dividends are eligible for ISIN allocation when referenced as under-lying of derivatives contracts (e.g. futures, options).The ISIN gets the prefix of the coun-try where the company is registered or, in absence of registration, has its legal domicile.

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4. CONSEQUENCES OF CORPORATE ACTIONS

Event and Definition ISIN rules for paperless securities

ISIN rules for physical certificates

4.1 Change of country domicile Domicile of company chan-ges to another country

No change of ISIN for securities already existing.

A new ISIN only if the old secu-rity is exchanged for a new one.

4.2 Merger Merger by absorption: One of the companies incor-porates the other(s) which legally disappear(s) Merger by amalgamation: The two companies merge to form a new legal entity after a certain period

ISINs of shares of the former companies must become inacti-ve after a certain period.

A new ISIN has to be allocated for the stock of the new com-pany and the former ISINs must become inactive.

ISINs of shares of the former companies must become inacti-ve after a certain period.

A new ISIN has to be allocated for the stock of the new com-pany and the former ISINs must become inactive.

N.B. In both above cases, for bonds, a new ISIN is created only if the old certificates are exchanged for new ones.

4.3 Assimilation Event which makes the use of an existing separate ISIN superfluous. For example: full dividend rights for new shares, call of outstanding amount on partly paid shares

The ISIN of the new stock has to become inactive when old and new shares become fungib-le unless a re-use is planned.

The ISIN of the new stock has to become inactive when old and new shares become fungib-le unless a re-use is planned.

4.4 Redemption Repayment of capital debt securities or redeemable shares (fully redeemed)

The ISIN has to become inactive after redemption date, unless the bonds are in default.

N.B. For convertible bonds, at the end of the conversion peri-od, when last conversion day is after the maturity.

The ISIN has to become inactive after redemption date, unless the bonds are in default.

N.B. For convertible bonds, at the end of the conversion peri-od, when last conversion day is after the maturity.

4.5 Bankruptcy Forced liquidation of a company - Full or partial compensati-on of shareholders/creditors - Discontinuation of the legal proceedings because of lack of assets

The ISIN has to become inactive after deletion of the company in the register of commerce.

The ISIN has to become inactive after deletion of the company in the register of commerce.

The ISIN has to become inactive after deletion of the company in the register of commerce.

The ISIN has to become inactive after deletion of the company in the register of commerce.

4.6 Event and Definition ISIN rules for paperless securities

ISIN rules for physical certificates

4.6 Change of share capital Change of issued capital (issued stock) of a company - Increase by issue of additional stocks

A new ISIN has only to be allo-cated for stocks with different rights.

A new ISIN has only to be allo-cated for stocks with different rights.

Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

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Event and Definition ISIN rules for paperless securities

ISIN rules for physical certificates

- Increase by change of nominal value - Decrease by change of nominal value

The ISIN code remains un-changed

The ISIN code remains un-changed

A new ISIN is required in case of exchange of the old certificates

A new ISIN is required in case of exchange of the old certificates

4.7 Liquidation Voluntary dissolution of a company

The ISIN has to become inactive after deletion of the company in the register of commerce.

The ISIN has to become inactive after deletion of the company in the register of commerce.

4.8 Change of name Renaming of a company

For shares:The ISIN code remains un-changed except for those ones where CUSIP Global Services is the relevant NNA.

For debt securities:The ISIN code remains un-changed except for those ones where CUSIP Global Services is the relevant NNA

For shares:A new ISIN is allocated for sha-res in case of exchange of the old certificates.

For debt securities:If the bonds have to be ex-changed for new certificates, the ISIN must be changed.

4.9 Stock split Subdivision

The ISIN code is changed only if necessary for technical reasons

A new ISIN is required in case of exchange of the old certificates

4.10 Reverse split Consolidation

The ISIN code is changed only if necessary for technical reasons.

A new ISIN is required in case of exchange of the old certificates

4.11 Renewal of coupons Not applicable. No new ISIN will be allocated in such a case provided that the certificate does not need to be exchanged.

4.12 Official stripping Separate trading of registe-red interest and principal of securities. In case of official stripping, the issuer designates the underlying issue as eligible for stripping and appoints strip dealers.

The rules applicable to the un-derlying debt instruments also apply to official stripping.

The rules applicable to the un-derlying debt instruments also apply to official stripping.

4.13 Unofficial stripping Unofficial stripping is generally issued by a Trust or SPV (special purpose vehicle) which repackages the underlying issue without the authorization of the issuer. In this case, evidence of ownership is in the form of a certificate issued by the Trust or the SPV. The certificates are not the primary obligation of the issuer of the underlying security and in the event of default of the Trust or the SPV no claim can be made by cer-tificate holders against assets of the issuer of the underlying bond in order to recoup their principal and interest.

Alpha-2 country code of the country of the entity that strips the issue.

Alpha-2 country code of the country of the entity that strips the issue.

Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

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Event and Definition ISIN rules for paperless securities

ISIN rules for physical certificates

4.14 Change of Primary place of deposit ² Place of deposit is changed from one (I)CSD to another (I)CSD

No change of ISIN for paperless/immobilised securities

For physical certificates, a new ISIN only if the old security is exchanged for a new one.

4.15 Change of Issuer There is a transfer of se-curities from one issuer to another.

No change of ISIN for securities already existing.

A new ISIN only if the old securi-ty is exchanged for a new one.

5. SUBSTITUTE NUMBERING AGENCIES (SNAs)

If a NNA - for whatever reason - does not allocate an ISIN for a certain financial instrument, the designated Substitute Agency would allocate an ISIN with prefix XA, XB, XC or XD (XA used by CUSIP Global Services, XB by NSD Russia, XC by WM Datenservice Germany and XD by SIX Telekurs) according to their geographical responsibilities and based on their own basic number.

In the event an SNA does not deal with a request it should take the responsibility to coordinate the distribution of such a request with other SNA.

6. RE-USE OF ISIN CODES

As a general rule, ISINs should never be re-used. Where this is unavoidable, such a re-use shall not occur before expiration of a 10-Years-period following the inactivation of the ISIN (e.g. after the maturity date of bonds, or bankruptcy date of the issuer in case of shares for instance). This rule applies to all kinds of financial instruments, except for options, futures and other short term money market instruments for which the re-use may occur one year after the expiration date.

7. NUMBERING AGENCIES NOT IN LINE WITH THE GUIDELINES

The Letter of Understanding will govern all ISIN allocations. Should this not be possible for certain events, the long term goal should be to come in line with the guidelines as soon as practical.

8. FINANCIAL INSTRUMENTS OUT OF SCOPE OF ISO 6166

Examples such as: - Bills for discount - Credit facilities (overdraft, revolving) - Documentary credits - Depository Interest (DI) and CREST Depository Interest (CDI) - Collection items, etc…

9. FOOTNOTES

1 Contracts for differences:

A CfD (Contract for Difference) is an agreement between a buyer and a seller to exchange the difference in value of a particular instrument from the moment in which the contract is opened until it is closed. That difference is determined by reference to an ‘underlying’ - a share, index, FX rate or commodity - and the period over which the CfD is held.

A CfD is a derivative instrument that allows investors to speculate on the price movements of an underlying without the need for ownership of it.

Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

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2 Primary Place of Deposit:

The primary place of deposit is the (International) Central Securities Depository which physical-ly holds the securities in custody or, for dematerialized securities, which hosts primary issu-ance and supports settlement of the security.

3 Combined Instruments:

Packages of different financial instruments issued and/or traded as one single unit. They can be separated during their life cycle and be traded individually.

4 Structured products:

Structured instruments can be divided into:

Structured instruments (capital protection) Capital protected structured instruments offer investors exposure to chosen underlying in various approaches and by a large variety of asymmetric pay-off profiles. There are one or more reference entities underlying in the product. Redemption is made at least in the amount of conditional capital protection at maturity, provided that no credit event of the reference entity has occurred. Conditional capital protection only applies to the nominal and not to the pur-chase price. The general functioning of a capital guaranteed structured instrument is as follows: the notional amount is split into a zero bond, that will deliver the capital guarantee at maturity, and the difference between the zero bond’s value (=present value of the guarantee level at maturity) and the notional amount is used for structuring he performance component with options which deliver the agreed pay-off profile of the structured instrument.

Structured instruments (without capital protection)A structured instrument without capital protection is a short-term note linked to an underlying stock. The security offers a steady stream of income due to the payment of a coupon rate. The redemption at the end of the term is determined on the basis of the performance and final fixing of the underlying: a redemption at the nominal value is guaranteed as long as the under-lying has not touched its barrier during the relevant barrier monitoring. If the underlying has touched its barrier but is again above the strike price at final fixing, the nominal price is also repaid. Nevertheless, if the underlying has touched its barrier during barrier monitoring and closes below the strike price at final fixing, the underlying is delivered or cash compensation paid, provided that no credit event of the reference entity has occurred. Depending on the characteristics of the product, either a coupon or a discount to the underlying can apply. A coupon is paid out regardless of performance of the underlying, provided that no credit event of the reference entity has occurred.

Structured instruments (Participation) The construction is generally based on a Low Exercise Price Option LEPO (base value less discount future dividends) or a direct investment in the Underlying or a LEPO combines with other options, which guarantee the desired disbursement profile.

Structured instruments (Entitlements : Mini-Future Certificates / Constant Leverage Certificates) MINI Futures combine the structure of open-end certificates with leverage option. MINI Futures have no fixed term. The leverage is therefore available without a term restriction. The price of a MINI Future always corresponds to its intrinsic value, i.e. the capital outlay, plus the bid-ask spread. The financing costs associated with building up the leverage effect are offset against the capital outlay on a daily basis, thereby eliminating the need for a premium. Investors have to pay only financing costs they actually utilize. In contrast to options, factors like volatility, have no influence at all on the price of MINI Futures.

For further information please consult http://www.eusipa.org/categorisation

Appendix B: ANNA Guidelines for ISO 6166, Version 12, August 2014

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Afghanistan The transitional Islamic State of Afghanistan

AF X

Åland Islands AX X

Albania People’s Socialist Republic of Albania

AL X

Algeria People’s Democratic Republic of Algeria

DZ X

American Samoa AS X

Andorra AD X

Angola People’s Republic of Angola

AO X Includes Cabinda Landana

Anguilla AI X

Antarctica AQ X The territory of 60 south latitude

Antigua and Barbuda AG X Includes Redonda Previous entry: Barbuda

Argentina Argentine Republic

AR X

Armenia AM X

Aruba AW X

Australia Commonwealth of Australia

AU X Includes Lord Howe Island, Mac-quarie Islands, Ashmore and Cartier Islands

Austria Republic of Austria

AT X

Azerbaijan AZ X

Bahamas Commonwealth of the Bahamas

BS X Turks and Caicos not included

Bahrain State of Bahrain

BH X

Bangladesh People’s Republic of Bangladesh

BD X

Barbados BB X

Belarus BY X

Belgium Kingdom of Belgium

BE X

Belize BZ X

Benin Republic of Benin

BJ X Previous entry: Dahomey DY Numbering by Cote d’Ivoire

Bermuda BM X

Bhutan Kingdom of Bhutan

BT X

Bolivia Plurinational State of Bolivia

BO X

Bosnia and Herzegovina BA X

Bonaire, Sint Eustatius and Saba BQ X

Appendix C: International Securities Identification Numbers (ISIN)Geographical division of countries among substitute agencies as per May 2015Countries which have a national numbering agency are in bold.

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Botswana Republic of Botswana

BW X

Bouvet Islands BV X Also called Bouvetoya Numbering Agency is Norway

Brazil Federative Republic of Brazil

BR X Includes Rocas, Fernando de No-ronha Archipelago, Trinidad, Ilhas Martim Vaz and San Pedro e Sao Paulo

British Indian Ocean Territory IO X Chagos Archipelago

Brunei Darussalam BN X

Bulgaria Republic of Bulgaria

BG X

Burkina Faso BF X Previous entry: Upper Volta Num-bering by Cote d’Ivoire

Burundi Republic of Burundi

BI X

Cambodia KH X

Cameroon Republic of Cameroon

CM X Previous entry: Cameroon, United Republic of

Canada CA X

Cape Verde Republic of Cape Verde

CV X Previous entry: Cape Verde Is-lands. Includes Boa Vista, Brava, Fogo, Maio Sal, Santo Antao, Sao Nicolau, Sao Tiago and Sao Vice-nte

Cayman Islands KY X Includes Grand Cayman, Cayman Brac and Little Cayman

Central African Republic CF X

Chad Republic of Chad

TD X

Chile Republic of Chile

CL X Includes Easter Island, Juan Fernandez Islands, San Felix and Sala y Gomez

China People’s Republic of China

CN X See also Taiwan, Province of Chi-na

Christmas Island CX X Australian Christmas Island

Cocos (Keeling) Islands CC X

Colombia Republic of Columbia

CO X Includes San Andres y Providen-cia, Malpelo Islands, Roncador Bk., Serrana Bk. and Serranilia Bk.

Comoros The Union of Comoros

KM X Previous entry: Comoro Isl. In-cludes Anjouan, Grande Comore Moheli and other Islands

Congo The Democratic Republic of

CD X

Congo People’s Republic of the Congo

CG X

Cook Islands CK X

Costa Rica Republic of Costa Rica

CR X Includes Cocos Islands

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Cote d’Ivoire Republic of Cote d’Ivoire

CI X Previous entry: Ivory Coast

Croatia HR X

Cuba Republic of Cuba

CU X

Curaçao CW X

Cyprus Republic of Cyprus

CY X

Czech Republic CZ X

Denmark Kingdom of Denmark

DK X

Djibouti Republic of Djibouti DJ X Previous entry: French Afars and Issas AI AFI

Dominica Commonwealth of Dominica

DM X

Dominican Republic DO X

Ecuador Republic of Ecuador

EC X Includes Galapagos Islands (Archipelago Colon)

Egypt Arab Republic of Egypt

EG X

El Salvador Republic of El Salvador

SV X

Equatorial Guinea Republic of Equatorial Guinea

GQ X Includes Rio Muni, Bioko, Annobon Corisco, Elobey Chico and Elobey Grande;

Eritrea State of Eritrea

ER X

Estonia EE X

Ethiopia People’s Democratic Republic of Ethiopia

ET X

Falkland Islands (Malvinas) FK X Includes West Falkland and East Falkland, South Georgia and South Sandwich Islands

Faroe Islands FO X

Fiji Republic of Fiji FJ X Includes Viti Levu and Rotuma Islands

Finland Republic of Finland

FI X

France French Republic

FR X

French Guiana Department of Guiana

GF X

French Polynesia PF X Includes Society Archipelago, Tuamotu Archipelago, Marquezas Islands, Gambier Islands, Austral Islands and Clipperton Islands

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

French Southern Territories TF X Includes Kerguelen Islands, Amsterdam, St. Paul, Crozet Island (ile des Apotres, ile aux Cochons, ile de la Possesion, ile des Pinqouins, ile d l’Est)

Gabon Gabonese Republic

GA X

Gambia Republic of Gambia

GM X

Georgia GE X

Germany, Federal Republic of DE – XX –

Ghana Republic of Ghana

GH X

Gibraltar GI X

Greece Hellenic Republic

GR X Includes Aegean Islands, Ionian Islands, Dodecanese Islands, Crete and Mount Athos autonomous area

Greenland GL X NNA via Denmark

Grenada GD X Includes Southern Grenadine Islands

Guadeloupe GP X Includes Grande Terre, Basse Terre, Marie Galante, Les Saintes, Iles de la Petite Terre, Désirade, Saint Barthélémy and Northern St. Martin

Guam GU X

Guatemala Republic of Guatemala

GT X

Guernsey GG X ISIN allocation by GB

Guinea Republic of Guinea

GN X

Guinea-Bissau Republic of Guinea-Bissau

GW X Numbering by Cote d’Ivoire

Guyana Republic of Guyana

GY X

Haiti Republic of Haiti

HT X

Heard and McDonald Islands HM X

Holy See (Vatican City State)

VA X

Honduras Republic of Honduras

HN X Includes Swan Islands

Hong Kong HK X Also called Hisiangkang and Xianggang

Hungary HU X

Iceland Republic of Iceland

IS X

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

India Republic of India

IN X Includes Amindivis, Laccadives, Minicoy, Andaman Islands, Nicobar Islands and Sikkim

Indonesia Republic of Indonesia

ID X

Iran Islamic Republic of Iran

IR X Previous entry: Iran

Iraq Republic of Iraq

IQ X

Ireland IE X

Isle of Man IM x ISIN allocation by GB

Israel State of Israel

IL X

Italy Italian Republic

IT X

Jamaica JM X Includes Morant Cays and Pedro Cays

Japan JP X

Jersey JE X ISIN allocation by GB

Jordan Hashemite Kingdom of Jordan

JO X

Kazakhstan KZ X

Kenya Republic of Kenya

KE X

Kiribati KI X Includes Fanning Islands, Wash- ington Island and Christmas Island in the Line Islands, Ocean Islands, Phoenix Island (Birnie, Gardner, Hull, McKean, Phoenix Sydney, Canton and Enderbury)

Korea, Democratic People’s Republic of Korea

KP X

Korea Republic of Korea

KR X

Kuwait State of Kuwait

KW X

Kyrgyzstan KG X

Lao People’s Democratic Republic

LA X

Latvia LV X

Lebanon Lebanese Republic

LB X

Lesotho Kingdom of Lesotho

LS X

Liberia Republic of Liberia

LR X

Libya LY X

Liechtenstein Principality of Liechtenstein

LI X ISIN allocation by CH

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Lithuania LT X

Luxembourg Grand Duchy of Luxembourg

LU X

Macao MO X Previous entry: Macao. Also called Ao-men

Macedonia MK X

Madagascar Democratic Republic of Madagascar

MG X

Malawi Republic of Malawi

MW X

Malaysia MY X Includes Peninsular Malaysia, Sabah and Sarawak

Maldives Republic of Maldives

MV X

Mali Republic of Mali

ML X Numbering by Cote d’Ivoire

Malta Republic of Malta

MT X

Marshall Islands Republic of Marshall Islands

MH X Previously part of entry Pacific Islands

Martinique Department of Martinique

MQ X

Mauritania Islamic Republic of Mauritania

MR X

Mauritius MU X Includes Rodriques, Agalega Island and Cargados Carajos

Mayotte YT X

Mexico United Mexican States

MX X

Micronesia Federated States of Micronesia

FM X Caroline Islands except the Palau Islands Group (Republic of Palau). Includes Yap, Truk, Ponape, Kosrae. Previously part of the Pacific Islands entry

Moldova Republic of Moldova

MD X

Monaco Principality of Monaco

MC X Numbering Agency is France

Mongolia Mongolian People’s Republic

MN X

Montenegro ME X

Montserrat MS X

Morocco Kingdom of Morocco

MA X

Mozambique People’s Republic of Mozambique

MZ X

Myanmar MM X Previous entry: Burma

Namibia Republic of Namibia

NA X

Nauru Republic of Nauru

NR X

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Nepal Federal Democratic Republic of Nepal

NP X

Netherlands Kingdom of Netherlands

NL X Includes Bonaire, Saba, St. Eustatius

New Caledonia NC X Includes Isle of Pines, Loyalty Islands, Huon Islands, Belep Archipelago, Chesterfield Islands and Walpole

New Zealand NZ X Includes Antipodes Islands, Auckland Islands, Bounty Islands, Campell Island, Kermadec Islands, Chatham Islands and Snares Islands

Nicaragua Republic of Nicaragua

NI X

Niger Republic of Niger

NE X Numbering by Cote d’Ivoire

Nigeria Federal Republic of Nigeria

NG X

Niue NU X

Norfolk Island NF X

Northern Mariana Islands Mariana Islands Commonwealth of the Northern

MP X Includes Mariana Islands except Guam. Previously part of the entry Pacific Islands

Norway Kingdom of Norway

NO X

Oman Sultanate of Oman

OM X Includes Kuria Muria Islands

Pakistan Islamic Republic of Pakistan

PK X

Palau Republic of Palau

PW X Previously part of the entry Pacific Islands

Palestine State of Palestine

PS X

Panama Republic of Panama

PA X

Papua New Guinea Independent State of Papua New Ginea

PG X Includes Bismarck Archipelago, Louisiade Archipela-go, Admiralty Islands, ’Entrecasteaux Islands, North - ern Solomon Islands (Bougainville, Buka etc.), Trobriand Islands, New Britain, New Ireland, Woodlark and associated Islands

Paraguay Republic of Paraguay

PY X

Peru Republic of Peru

PE X

Philippines Republic of Philippines

PH X

Pitcairn PN X Includes Henderson, Ducie and Oeno. Previous entry: Pitcairn Island

Poland Republic of Poland

PL X

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Portugal Portuguese Republic

PT X

Puerto Rico PR X

Qatar State of Qatar

QA X

Réunion Department of Réunion

RE X Includes Ile Europa, Bassas da India, Juan de Nova, Ile Glorieuse and Ile Tromelin

Romania RO X

Russian Federation RU X -XX-

Rwanda Rwandese Republic

RW X

Saint Barthélemy BL X

St. Helena SH X Includes Ascension, Gough Island, Inaccessible, Nightin- gale Islands and Tristan da Cunha

St. Kitts and Nevis KN X Previous entry: St. Kitts-Nevis-Anguilla

Saint Lucia LC X Previous entry: St. Lucia

Saint Martin MF X

St. Pierre and Miquelon Territorial entity of St. Pierre and Miquelon

PM X

Saint Vincent and the Grenadines VC X Includes Northern Grenadine Island

Samoa Independent State of Western Samoa

WS X Previous entry: Western Samoa

San Marino Republic of San Marino

SM X

Sao Tome and Principe Democratic Republic of Sao Tome and Prinicipe

ST X

Saudi Arabia Kingdom of Saudi Arabia

SA X

Senegal Republic of Senegal SN X Numbering by Cote d’Ivoire

Serbia RS X

Seychelles Republic of Seychelles

SC X Includes Alphonse, Bijoutier, St. François Islands, St. Pierre Islet, Cosmoledo Island, Amirantes, Aldabra, Farquhar and Desroches

Sierra Leone Republic of Sierra Leone

SL X

Singapore Republic of Singapore

SG X

Sint Maarten (Dutch part)

SX X

Slovakia SK X

Slovenia SI X

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Solomon Islands SB X Includes Southern Solomon Islands primarily Guadalcanal, Malaita, San Cristobal, Santa Isabel, Choiseul

Somalia Federal Republic of Somalia

SO X

South Africa Republic of South Africa

ZA X Includes Walvis Bay, Marion Island and Prince Edward Island

South Georgia and the South Sandwich Iskands

GS X

South Sudan Republic of South Sudan

SS X

Spain Kingdom of Spain

ES X

Sri Lanka Democratic Socialist Republic of Sri Lanka

LK X

Sudan Republic of the Sudan

SD X

Suriname Republic of Surinam

SR X

Svalbard and Jan Mayen Islands

SJ X Includes Bear Islands. (Bjornoy) NNA via Norway

Swaziland Kingdom of Swaziland

SZ X

Sweden Kingdom of Sweden

SE X

Switzerland Swiss Confederation

CH – XX –

Syrian Arab Republic SY X

Taiwan Republic of China

TW X Includes Penghu (Pescadores) Islands

Tajikistan TJ X

Tanzania United Republic of

TZ X Includes Zanzibar and Pemba

Thailand Kingdom of Thailand

TH X

Timor-Leste TL X

Togo Togolese Republic

TG X Numbering by Cote d’Ivoire

Tokelau TK X Previous entry: Tokelau Island

Tonga Kingdom of Tonga

TO X

Trinidad and Tobago Republic of Trinidad and Tobago

TT X

Tunisia Republic of Tunisia

TN X

Turkey Republic of Turkey

TR X

Turkmenistan TM X

Turks and Caicos Islands TC X

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Substitute Agencies

Entity (Short name in English) Official Name in English

Alpha-2 Code

CUSIP Global Services

Wertpapier-Mitteilungen

SIX Financial Information

NSD

Remarks

Tuvalu TV X Includes Funafuti, Nanumanga, Nui Nanomea, Nurakita, Niutao, Nukufetau, Nukulaelae and Vaitupu

Uganda Republic of Uganda

UG X

Ukraine UA X

United Arab Emirates AE X

United Kingdom United Kingdom of Great Britain and Northern Ireland

GB X Includes Orkney, Shetland Islands

United States United States of America

US – XX –

United States Minor Outlying UM X Includes Baker Islands, Jarvis Islands, Johnston Atoll, Kingman Reef, Midway Islands, Palmyra Islands and Wake Island. Previously partially covered by the United States Miscellaneous Pacific Islands (PU)

Uruguay Eastern Republic of Uruguay

UY X

Uzbekistan UZ X Substitute Numbering Agency is Russia

Vanuatu Republic of Vanuatu

VU X

Vatican City State (Holy See) VA X

Venezuela Bolivarian Republic of Venezuela

VE X

Viet Nam Socialist Republic of Vietnam

VN X Previous entries: Democratic Republic of Vietnam (VD) and Republic Vietnam

Virgin Islands (British) VG X Includes Anegada, Jost Van Dyke Tortola and Virgin Gorda. Previous entry: British Virgin Islands

Virgin Islands (U.S.) Virgin Islands of the United States

VI X Includes Saint Croix, Saint John, Saint Thomas. Previous entry: United States Virgin Islands

Wallis and Futuna Islands WF X Includes Iles Wallis (Uvea) and Ile de Hoorn (Futuna, Alofi)

Western Sahara EH X Previous entry: Spanish Sahara

Yemen, Republic of YE X

Zambia Republic of Zambia

ZM X

Zimbabwe Republic of Zimbabwe

ZW X

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Appendix D: ISO 10962 – outline of CFI-(Classification of financial instruments-) Code

Following a failed ISO revision process in 2011, the CFI has undergone significant review resulting in ISO TC68/SC4/WG6 submitting a revised DIS in June 2014.

A key focus of the revision process was to give consideration to the results of an ISO Study Group where the following topics were raised –

• Scope of asset classes / contract styles• Level of granularity • Structure e.g. hierarchy, code list, text

string• Inclusion of entity classification • Existing use / purpose • Semantics - common definitions /

glossary• Addressing DIS and FDIS comments

In addition to the above, there was also agreement that the 2011 FDIS version of CFI had inconsistencies with the use of mutually non-exclusive terms and omission or inaccu-rate representation of data. These elements require a detailed review in order to progress.

There was unanimous agreement that a category classifying derivatives needed to be introduced and that this would require input from participants with the right level of knowledge and experience. ISO TC68/SC4/WG6 has been fortunate to have received active and on-going participation from a large number of national and liaison members, ensuring that representation and input has been achieved from a broad user base.

In moving forward with proposed changes to the standards, WG6 has remained committed to minimising the impact on existing user communities; avoiding unnecessary granular-ity; ensuring classification provides global rep-resentation, as well as resolving any inaccura-cies and clarifying definitions.

The standard continues to provide a uniform and consistent method to classify financial instruments. The latest developments in-crease the efficiency, reliability, data consist-ency and transparency of financial services transactions for both market and reference data across a broader user community.

As the revised scope of the standard extends beyond exchanged traded/listed instruments to OTC derivatives, it was determined by ISO TC68/SC4/WG6 that the user communities of CFI operate under differing market practices. On this basis, it was approved that the formal role of a Registration Authority be removed from the standard with the introduction of clear text within the CFI allocation clause to support the continued relationship between ISIN (ISO 6166) and CFI assignment.

Whilst the user community awaits the out-come of the DIS ballot (ending in January 2015) work will continue by ISO TC68/SC4/WG6 to assist the market with implementation and adoption, such as creation of user guidelines. Additionally, an ISO Advisory Group will be established to further discuss and make recommendations on improved accessibility and address the long term structure and management of ISO 10962. These factors are critical to the evolution and usability of the standard to ensure it remains aligned with the needs of the industry/ user community.

The structure of the revised CFI code remains aligned with the original version of the stand-ard. The CFI consists of six alphabetical characters with an embedded hierarchy –

First character - CategoryIndicates the highest level of classification and differentiates between categories such as equities, collective investment vehicles, debt instruments and many more. The proposed categories are –

Equities Non-listed and com-plex listed options

Collective investment vehicles

Spot

Debt instruments Forwards

Entitlement (rights) Strategies

Listed options Financing

Futures Referential instruments

Swaps Others (miscellaneous)

Those Categories in bold are new

Second character – GroupsIndicates specific groups within each catego-ry; for example, Equities are broken down into common/ordinary shares, preferred shares, convertible etc. The category of Debt is broken down into groups such as bonds, convertible bonds, medium-term notes, money market instruments etc.

Last four characters – AttributesIndicates the most relevant attributes applica-ble to each Group. Whereas voting rights, ownership/transfer/sales restrictions, payment status and form are useful information in Equities, these features do not exist for Options, which have other attributes such as option style, underlying assets, delivery, standardized/non-standardized or trigger.

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Appendix D: ISO 10962 – outline of CFI-(Classification of financial instruments-)Code

CFI introduction (as of May 2015)

Country CFI allocation since Planned for

Argentina 2003

Algeria 2006

Angola – We look forward to start to allocate the CFI after the exchange is operating.

Armenia June 2010

Australia – Discussions progressing with regulator

Austria 1999

Azerbaijan April 2008

Bahrain November 2010

Bangladesh 2010

Barbados April 2010

Belarus December 2008

Belgium 2001

Bolivia September 2012

Botswana – We have yet to design our new numbering programme which will provide for all the requisites set out by ANNA

Brazil 1997

Bulgaria 1997

Canada 2008

Cape Verde –

Chile 2005

China – September 2015

Colombia June 2010

Costa Rica 2006

Croatia 2004

Cyprus December 2007

Czech Republic June 2010

Denmark 2001

Dominican Republic November 2011

Egypt April 2005

Ecuador August 2010

El Salvador January 2012

Estonia 2000

Finland 2000

France April 2005

Georgia 2010

Germany 1997

Greece November 2003

Guatemala October 2010

Honduras April 2011

Hong Kong 2005

Hungary September 2003

Iceland Januar 2005

India November 2011

Indonesia June 2008

Iran 2009

Ireland December 2007

Israel December 2005

Italy 2001

Jamaica 2013

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Appendix D: ISO 10962 – outline of CFI-(Classification of financial instruments-)Code

CFI introduction (as of May 2015)

Country CFI allocation since Planned for

Japan January 2007

Jordan January 2007

Kazakhstan November 2010

Kenya 2004

Korea December 2001

Kuwait 2008

Latvia 1997

Lebanon April 2013

Libya 2008

Lithuania 2002

Luxembourg March 2007

Macedonia February 2007

Malaysia –

Maldives – Hope to start by June 2015

Malta December 2006

Mauritius December 2004

Mexico December 2011

Mongolia May 2010

Montenegro November 2007

Morocco – We have already implemented the basics for the CFI codification but the start date have not yet been defi-ned.

Mozambique November 2014

Nepal January 2014

Netherlands December 2008

Nicaragua – We do not know yet.

Nigeria 2014

Norway 1999

Oman January 2015

Pakistan March 2013

Palestine April 2010

Panama 2005

Paraguay May 2010

Peru 2014

Poland 1997

Portugal 1997

Romania 2007

Qatar 2013

Russia June 2003

Saudi Arabia –

Seychelles August 2013

Serbia November 2001

Singapore – Work in progress.

Slovakia 2003

Slovenia June 2005

South Africa March 2008

Spain 1997

Sri Lanka June 2011

Sweden 2008 Only by request.

Swaziland – 2015

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Appendix D: ISO 10962 – outline of CFI-(Classification of financial instruments-)Code

CFI introduction (as of May 2015)

Country CFI allocation since Planned for

Switzerland 2001

Syria – Not defined

Taiwan 2004

Tanzania May 2011

Thailand – Discussions with relevant parties initiated

Tunisia –

Turkey October 1999

UEMOA – We plan to implement the CFI-code by the end of 2015

Uganda 2010

Ukraine 1999

United Arab Emirates May 2011

United Kingdom 2003

Uruguay January 2013

USA 1996

Venezuela 2004

Vietnam January 2009

Zambia –

Zimbabwe 2003/2004

International Clearing Systems:

Clearstream March 2007

Euroclear 2008