Esma's Mifir endorsement of ISIN identifiers questioned

Markit and Bloomberg claim Red codes and Figis should be used for trade reporting

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The European Securities and Markets Authority (Esma) has endorsed International Securities Identification Numbers (ISINs) as trade reporting identifiers for all instruments under the scope of the Markets in Financial Instruments Regulation (Mifir), but the move has been questioned by some market participants who say ISINs are not the best solution.

Regulators have bemoaned the poor data quality from trade repositories, while those mandated to report have described the system as a mess.

Mifir

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