Starting out
ISIN
Also called International Securities Identification Number
A twelve-character global code that identifies one security uniquely, anywhere in the world.
How it works
The format is a two-letter country code, nine characters identifying the security, and a final check digit. Unlike a ticker, an ISIN is not reused and does not depend on which exchange you are looking at.
Brokers use ISINs on contract notes and statements precisely because they are unambiguous. If you are matching a trade confirmation to a holding, the ISIN is the field to match on.
Where it misleads people
An ISIN identifies the security, not the listing. The same ISIN can trade on several exchanges in several currencies at slightly different prices, so it does not by itself tell you which market a trade happened on.
Worked example
US0378331005 identifies Apple’s ordinary shares: US for the country of issue, then the security identifier, then the check digit.
Related terms
- TickerThe short code that identifies a security on a particular exchange.
- CUSIPA nine-character code identifying a security issued in the United States or Canada.
- ExchangeA regulated marketplace where buyers and sellers of securities are matched under published rules.
- Contract noteThe document a broker issues after a trade, recording exactly what was bought or sold and at what price.
More in Starting out
Educational reference only. Nothing here is investment advice or a recommendation to buy or sell anything, and tax treatment depends on your own circumstances and the country you are in.