Association of National Numbering Agencies scrl Annual Report 2013 Contents 3 Chairman’s Report 2013 5 Objectives and mission statements of ANNA 6 General meetings – ANNA administrative review 2013 13 ANNA Service Bureau – report for 2013 14 Securities business and state of ISIN implementation – worldwide 16 Allocation of ISIN for new financial instruments 19 Working Groups and Task Forces 25 List of members by COUNTRY as per May 2014 Appendices 29 A ISO 6166 – an outline of the standard 30 B ANNA Guidelines for ISO 6166, Version 11, November 2011 38 C Geographical division of countries among substitute agencies as per May 2014 48 D ISO 10962 ­– outline of the CFI-(Classification of financial Instruments-) Code 2 www.anna-web.com Chairman’s Report 2013 Dear ANNA Members and Partners, stages in ANNA’s growth, evolution and future global positioning. 2013 marked five full years since the collapse of Lehman Brothers – an event that almost Below I summarise some of the main topics tipped the global economy into free fall. Since that the ANNA membership and the Board of the occurrence of this event, global recovery Directors put focus on during the course of has been slow and for large segments of time, 2013: moved in the opposite direction of the hoped for recovery. For those that are more optimis- tic, 2013 did show some small signs that - Strategic planning work continued within the perhaps we may have turned the corner and ANNA Service Bureau (ASB) Technical the overall global economy will continue in Committee, preparing for the new ASB 2014 positive territory. record release. This included reviewing and agreeing upon the new ASB data record + The big financial event of 2013 turned out to associated elements (existing and new) be less of an impact than had originally been which will be launched in late 2014. There foreseen. In May, Ben Bernanke, the then are a number of changes that will impact the Chairman of the US Federal Reserve, hinted members, yet these are key to ensuring that policymakers could start to unwind the improved technical and data quality to the huge $85 billion per month bond-buying ASB clients; stimulus. Investors panicked as stock market - ANNA continued to focus on and contribute and bond prices plunged in what was termed to the evolution of the ISO 17442 – Legal the ‘taper tantrum’. The reality though was a Entity Identifier (LEI) standard, to promote very modest $10 billion a month reduction of ANNA’s federated model and the value the stimulus – which sent US Market soaring added benefits of our model and the Nation- and had positive spill over effects for many al Numbering Agencies (NNAs). With the other global financial markets. Unfortunately, increasing level of interest in this standard the economies of Brazil, Turkey, India, Indone- from within the ANNA membership, ANNA sia and South Africa faced the biggest impact created a dedicated Working Group to share of investors’ tapering paranoia – as the value best practices amongst NNAs that have of their currencies were heavily impacted as already been or seek to be appointed as LEI foreign investors withdrew funds from their Local Operating Units in their jurisdiction of economies. responsibility; - ANNA’s continued development and appli- China’s economy was deemed too big to be cation of the Membership and Partner impacted by the US tapering plans. China Guidelines has continued to bring a strong remained focused on maintaining growth and results by ensuring membership and partner the posted full-year growth was 7.7%, just compliance in key areas – with clear positive slightly above market expectations of 7.6% - impacts being realised according to feed- which is the slowest pace since 1999. The back from the ASB operators; year also witnessed a US Government shut- - The revision of the ISO 6166 standard, down over the budget – the first partial which began a few years ago, was conclud- government shutdown in 17 years. It impact- ed. The proposed Final Draft International ed nearly 700,000 federal workers for 16 days Standard (FDIS) was unanimously endorsed and is cited as causing ‘completely unneces- by the SC4 members and published by ISO sary damage’ to the world’s largest economy in July. Formal market adoption is planned – a cost estimated at $24 billion. for mid-2014 due to the need to create specific rules on ISIN assignment practices For ANNA, its members and their integral across all NNAs; roles in the global financial marketplace – - Excellent progress has been made with the 2013 can be summarised as a period where revision of the ISO 10962 (CFI) standard we were putting in place all the necessary through Working Group 6 and we anticipate preparatory elements to proceed to the next endorsement of the key findings will be The ANNA Board of Directors Chairman: Mr Dan Kuhnel Euroclear Bank Hong Kong Branch Vice Chairman: Mr Uwe Meyer WM Datenservice Germany Executive Secretary: Ms Emma Kalliomäki London Stock Exchange United Kingdom Treasurer: Mr György Dudás Keler Hungary Marketing Director: Mr Martín Paladino Caja de Valores Argentina www.anna-web.com 3 voted on in early 2014. Due to the extended members and 31 partners representing 122 scope and inclusion of derivatives - a time countries. limit extension was granted by ISO for the work to be completed; I am certain that 2014 will continue to present - Within the dedicated work of WG14, revi- challenges to the ANNA Board, the ANNA sions of the ISO 18773 and 18774 standards Service Bureau, our dedicated Working where completed – which includes the Groups and Task Forces - as we continue to concept of merging the two standards into a increase our focus on data quality and ac- single, more comprehensive standard curacy related matters and continue our encompassing both abbreviations and short dedicated efforts to ensure the Association name characteristics. ANNA remains a evolves and continues to meet the require- viable candidate to be appointed as the ments of all financial standards users. Registration Authority when the standard is published; I look forward to the challenges that are - The ‘visibility’ and ‘promotional’ efforts that presented through 2014 and beyond. the Board initiated in 2012 came to fruition during the course of 2013. The ANNA Board Yours sincerely successfully selected two external agencies to work in close cooperation with the ANNA Dan Kuhnel Board. One to focus on representation of ANNA and its members’ work in external Chairman of ANNA conferences/forums and the second to be a dedicated public relations officer to handle press relations to assist the Board with the development of a revised Public Relations strategy for the Association; - Assessments continued on ANNA’s tax status in Belgium, our governing language and other practical running matters; with our external provider (KPMG Belgium). This work was close to being finalised at the end of 2013 and the Board will present our findings to the members at the spring 2014 AGM; - I also would like to make note of the efforts put into supporting the ISO Standard review efforts of the SC4 through the Chairman’s Advisory Group and TC68 through the Advisory Group for Registration Authorities; and - Lastly, in respect of the ANNA Board com- position, the ANNA members were pleased to welcome the re-election of the London Stock Exchange to the open Board seat at the June AGM. I also take this opportunity to share the new members and partners that joined ANNA in the course of 2013. We look forward to further enhancing our working cooperation with them. • Bourse Regionale des Valeurs Mobilieres (Cote d’Ivoire) – Full member • Qatar Financial Markets Authority (Qatar) – Partner • Top-X Stock Exchange (Seychelles) – Par- tner • Bolsa de Valores Nacional Guatemala (Guatemala) – Full member • Mozambique Stock Exchange (Mozam- bique) – Partner These additions brought the composition of the Association at 2013 year-end to 84 full 4 www.anna-web.com Objectives and mission statements of ANNA Objectives: Mission of ANNA: 1. Global promotion of ISO standards under ANNAANNA ,(the the “Association"Association ofof NationalNational NumberingNumbe ring ANNA's Control as Registration Authority Agencies”)Agencies”, isis afu globallly com industrymitted t oassociation, proactively withprom ao tpresenceing, imple inm excessenting, mofa 120inta icountries,ning and • Give assistance to members comprisingmaking ava iala membershipble, standard sof f oCentralr secu rBanks,ities an d Central Securities Depositories, Data Vendors, • Promote National Numbering Agencies related financial instruments, in a uniform and Regulators and Stock Exchanges. (NNAs) involvement accurate structure for the benefit of their home • Give assistance and support to market par- markets and of the securities industry as a ticipants with regards to standards Mission Statement whole. • Full ISIN coverage where no NNA exists • Support ANNA membership We are committed to providing actionable • Monitor ANNA members rights and obliga- globalRegist rIDat iandon a referencend mainte ndataanc eproducts of intern andatio nal tions servicesstandard tos u globalnder A marketNNA’s rparticipants,esponsibility, includis - • Define role of Partners and Substitute NNAs ingena Regulatorscted accord anding ttheo r ufinancialles and rservicesegulation s set • Develop marketing strategies and increase industryout by IS toO ,uniquely the "Inte identify,rnationa lclassify Organi zandatio n for visibility of ANNA describeStandard ientitieszation” .and financial instruments. 2. Make available We proactively promote, implement and maintain standards for entities and related • International Securities Identification Number financial instruments and make related infor- (ISIN) allocation according to ISO Standard mation available in a uniform and accurate 6166 structure for the benefit of global markets and • Classification of financial instruments (CFI) the securities industry as a whole. allocation according to ISO Standard 10962 • Dissemination of ISIN and CFI through NNAs Our federated model uniquely positions us as and ANNA Service Bureau (ASB) the leading association able to offer local • Products of the ASB: ISIN_Access (Look-up market expertise to the global community.