The Securities and Exchange Commission (SEC) said it recently gained membership as a partner in the Association of National Numbering Agencies (ANNA), a global association that seeks to foster standardization within the financial industry.
The agency’s membership in ANNA should help make the Philippine capital market more accessible and transparent, the SEC said in a statement over the weekend.
“Our joining ANNA as a partner is an important step in making the Philippine market more accessible, transparent and, most importantly, secure,” said SEC Chairman Emilio B. Aquino.
As a partner, the SEC will act as the national numbering agency for the Philippines.
“The commission will be primarily responsible for assigning ISIN (International Securities Identification Number), Financial Instrument Short Name (FISN) and Classification of Financial Instruments (CFI) codes to all market instruments, including unlisted securities,” the agency said. .
He noted that he has already developed a national numbering system that will assign securities identifiers – ISIN under ISO 6166, CFI under ISO 10962 and FISN under ISO 18774.
“The SEC’s National Numbering System (NNS) can assign securities identifiers to corporate securities and government-issued securities, such as those issued by the Office of the Treasury and the Bangko Sentral ng Pilipinas.”
According to Aquino, by adopting standard identifiers, recognized in more than 120 jurisdictions, securities originally issued in the country can be recognized and traded between buyers and sellers virtually anywhere in the world.
He added that the commission expects more robust activity in the domestic capital market. — Arjay L. Balinbin