ISIN Issuance and Acceptance
ISIN: International Securities Identification Number: a twelve digit alphanumeric code which uniquely identifies a specific security.
CFI Code: Securities description code promoted by the Association of National Numbering Agencies (ANNA) which describes the characteristics defined when the concerned financial instrument is issued and remains unchanged during the whole life of the security (ISO 10962).
Clearstream, as National Numbering Agency for Luxembourg, issues ISIN and CFI codes for any Luxembourg-domiciled securities, according to ANNA guidelines and more specifically for Luxembourg-incorporated investment funds and companies.
Any appointed fund agent (as documented in the relevant prospectus), typically the transfer agent, registrar, fund manager or administrator can request the issuance of an ISIN code from Clearstream Banking Luxembourg (CBL).
Such a request should be sent by email to firstname.lastname@example.org accompanied by the following documentation:
- Final prospectus visa, stamped by the Luxembourg regulator Commission de Surveillance du Secteur; Financier (CSSF), or with confirmation that CSSF has verbally approved it, as evidenced by publication on the CSSF website;
- Draft prospectus if the ISIN is included in the prospectus for CSSF approval;
- Launch price;
- Confirmation for which specific sub-funds/classes an ISIN code is requested;
- Legal Entity Identifier (LEI) per sub-fund (see announcement A17145, dated 26 October 2017);
- Related Fund Processing Passport (recommended).
Fund agents registered at fundlook.kneip.com or at e-file.lu may also send their request via the related ISIN issuance request page. Such a request needs to be accompanied by the CBL extended FPP file .
At the same time, the fund agent may request eligibility in Clearstream for settlement and custody and/or order routing via Vestima.
Acceptance in Clearstream
Clearstream accepts investment funds - collective investment schemes that are ‘unitised’ as a security - for deposit and settlement. This is typically manifested by the existence of an ISIN or an equivalent local market securities identifier (such as CUSIP, SEDOL).
Investment fund shares must be eligible for book-entry transfer in Clearstream. We do not accept for deposit and settlement participations in collective investment schemes that are only expressed as pro-rata participations such as partnerships and other multi-person ventures.
Acceptance of investment fund shares in Clearstream is subject to the receipt of the final fund prospectus, or the last available draft prospectus if the ISIN is included. In the latter case, the final prospectus must be sent to Clearstream as soon as it is available.
In the case of umbrella funds, where some funds have already been accepted and for which no modifications have been introduced in the first version of the prospectus, only the relevant addendum is required to have an additional share class accepted in Clearstream.
In addition, for compliance and organisational requirements, Clearstream will request documentation in order to:
- have an overview of the legal structures behind asset managers and transfer agents
- validate the legal nature of the position that will be held by Clearstream with the entity appointed by the fund to hold and manage its books.
Relevant forms and requirements are available via email from email@example.com.
The eligibility assessment is performed by the Investment Fund Services/New Issues acceptance teams.
Further detailed information can be found in ' Operational Guidelines for Investment Funds Shares '.