Isins for swaps need ‘complete rethink’, say platforms

Three trading venues say Mifid II transparency objectives diminished by identifier choice

Discarding isins
Rethink needed? Some say Isin problems are diminishing transparency benefits

Trading platforms are warning that new European rules will struggle to fulfil their objective of improving financial market transparency without a total overhaul of the use of International Securities Identification Numbers (Isins) to identify derivatives trades.

“As industry requirements evolve, there should be an openness to review the current process, even if it involves a complete rethink rather than a small change,” says Simon Maisey, a managing director at electronic marketplace Tradeweb.

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