ISIN is basically the only internationally recognised standard that uniquely identifies securities.
"The BSE is now the only organisation in Bahrain that can issue ISIN numbers, where the exchange will be able to allocate and maintain ISIN numbers for all securities listed or non-listed in Bahrain.
"A precise instrument identification scheme like ISIN is needed to improve efficiency, reduce the risks of trade failure, and avoid the confusion that may result in case the names of securities and companies are similar," he said.
ISIN is the standard that provides a uniform structure for a number to uniquely identify securities.
Standard and Poor's (S&P), the ratings agency, is under formal investigation by the European Commission, which suspects it of abuse of dominant position (Article 82 of the EU Treaty) with regard to the use of ISIN (International Securities Identification Number) codes.
The ISIN standard, developed by the International Organisation for Standardisation (ISO), is a unique identification number assigned to securities: shares, bonds, monetary products, UCITS and warrants, among others.
The agency in the United States is the CUSIP (Committee on Uniform Security Identification Procedures), which selected S&P to run its ISIN service.