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After careful consideration, and in coordination with the EC, ESMA has concluded that an approach to the STO based only on the ISIN of the share would be more likely to minimise any such risk of disruption in the interest of orderly markets.
This statement is only meant to clarify the application of the EU27 STO to shares with an EEA ISIN. The application of the STO to shares with a different ISIN should continue to be determined taking into account the previous ESMA guidance, published on 13 November 2017.
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.