ASC X9 publishes the US Standard for the Financial Instrument Global Identifier
Today, the American National Standard (ASC) X9.145-2021 enables transparency and consistency throughout the trade lifecycle and across institutions, including market participants, third-party data providers, exchanges and regulators. The standard is now available for download.
FIGI is a set of open data standards that provides guidance for identifying and creating context-specific data models of financial instruments. Standard covers financial instruments globally and across asset classes, including common stock, derivatives, corporate and government bonds, and those that previously lacked standard identifiers such as crypto assets and loans. The financial instrument is supported by descriptive metadata, defining the context of the exchange or national jurisdiction where appropriate.
The X9.145 FIGI standard, approved and published by ANSI/X9, will allow for further alignment across worldwide standards organizations. FIGI was originally adopted as a formal standard in 2014 by the Object Management Group, whose open membership, not-for-profit technology standards consortium, and in July 2020, the Brazilian Association of Technical Standards (ABNT) accepted
"In today's highly interconnected environment, identifiers for financial products continue to grow, using tools like FIGI to connect these systems together and provide further granularity for asset class management and identification," said Steven Meiza FIGI is a unique and non-changing identifier that provides broad coverage of global financial instruments without performance and cost restraints. The use of FIGI as national standard by the US market - a key player in the global economy signals reshape to secure cross-border interoperability among financial markets worldwide.
"Accredited standards committee (ASC) X9 is pleased that we can work together with Bloomberg and our broader community to develop an industry standard for the FIGI identifier. As a standard development organization for the financial services industry in the United States, it's part of our mission to support emerging technologies," said Steve Stevens, executive director of X9.
The X9.145 FIGI standard is the first x9 data standard incorporated in the MIT Open Source License, in which the data created and identified in this standard will be available to the public. FIGI IDs are available free of charge, without material obstacles to use. The codes can be used for data mining, research and trading. Bloomberg will continue to build, update and administer the FIGI to ensure accuracy and effectiveness. He is the registration authority and certified provider of a Certified Provider, and will maintain the accuracy of the drawings and images, to maintain res
OpenFIGI is based on Bloomberg's Open Symbology released in 2009. Object Management Group voted unanimously in 2014 to adopt it as a standard methodology for identification of financial instruments across asset classes. The consortium also nominated Bloomberg as the Registration Authority and Certified Provider for the standard. Kaiko, a market data provider in the blockchain-based digital assets industry, was approved as Chartered Distributors of FIGI. For more information, please visit OpenFIGI.com.
About the Accredited Standards Committee X9 - About The Accreditation Committee. The Accredited Standards Committee (ASC) is a non-profit organization approved by the American National Standards Institute (ANSI) to develop and maintain national and international standards for the financial services industry. The subject of X9's standards is data security, retail, mobile and business payments, corporate treasury functions, block chain technology, processing of electronic legal orders issued to financial institutions, tracking financial transactions and instruments, financial X9 acts as the U.S. Technical Advisory Group (TAG) for the ISO TC68 (Financial), TS321 (Ecommerce) and TD322 (Sustainable For more information, please visit our website (x9.org).
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