At Issuance

ISIN Allocation and Eligibility in the ICSDs – security draft documentation requirements

To have a security accepted and eligible for issuance and settlement in the ICSDs, some specific securities information is required in draft documentation to reduce acceptance and eligibility review times.

  • The Stand Alone Acceptance and Eligibility Checklist, to be used by Lead Managers, contains the minimum information requirements for ISIN allocation and eligibility review for securities to be issued in the ICSDs.
  • The Programme Acceptance Checklist, to be used by Issuers/Legal Counsels/Arrangers, contains the minimum information requirements for a programme number allocation and eligibility review in the ICSDs.
  • For issuances under programme, please refer to the facilities under the European Pre-Issuance Messaging (“EPIM”) at

Asset Servicing – security final documentation requirements

To ensure adequate asset servicing, some specific securities information is required per event in the issue final documentation, ensuring completeness of data and alleviating interpretation risks.

The ISMAG Asset Servicing “Checklist A” – Final Documentation Items, is to be used by Issuers/ Legal Counsels/ Arrangers, contains information requirements, for each event that will/could happen during the life of a security, i.e. the ‘predictable events’ such as put and call options, coupons, conversions, redemptions, etc.

Additionally specific recommendations are defined for :

  • Confidential securities
  • Units/Nominal
  • Paperless instructions
  • Non English Documentation
  • Naming convention
  • Day Count Convention
  • Adjustment of Coupon Period
  • Fixed Coupon amount
  • Payment Business days
  • Record dates
  • Partial redemption