(MENAFN - Qatar News Agency) Qatar Financial Markets Authority(QFMA) is now capable of issuing and marketing the international number of securities in line with a partnership agreement with the Association of National Numbering Agencies.
As part of QFMA's strategy, The move aims to apply the best international practices in developing financial markets, achieve stability and transparency and reassuring dealers in securities and facilitate trading, a press release by the Authority said on Wednesday
"Upon this agreement, QFMA was authorized for the task of numbering of all domestic securities issued in the state with unified International Securities Identification Number (ISIN) and the CFI (Classification of Financial Instruments code) to have one number for each security used in domestic and foreign trading," QFMA said in the statement
The ISIN consists of a total of 12 characters (alphanumeric), as determined in accordance with the standard (ISO 6166), from left to right, The first two characters are taken up by the alpha-2 country code of the country where the issuer of securities
The purpose of the ISIN is to Identify and unite the securities to not reflect any characterization of the security in terms of nature, legitimacy, or motion mechanism, that is provided by the CFI which is considered as the classification of securities
The CFI consists of six alphabetical characters (alphanumeric) as determined in accordance with the standard (ISO10962, the first character indicates the highest level of security category such as equities and debt instruments, the second character indicates specific groups within each category such as preferred shares and bonds
The third to sixth character indicate the most important attributes to each group including voting rights and interest rate
All securities listed on Qatar Exchange must have the ISIN and the CFI, but it is optional and not mandatory for other issuers.