VPS Road Map 1.0 is part of the renewal within VPS 2.0 that provides an overview of the key activities in the securities registry business that will affect clients and VPS during the years 2016 to 2018. By implementing these activities, the Norwegian securities market will be compliant with the new regulations. At the same time, market participants will get access to both new services and improvements to the existing services.
During the autumn of 2016, many improvements were delivered and all of them were delivered within the time we envisaged. In the first quarter of 2017 we will among other things focus on some improvements that are triggered by new, impending regulations and reporting to the authorities. Consequently, we will see the introduction of new concepts and acronyms in our industry.
LEI
Legal Entity Identifier (LEI) is a global identifier. The LEI is used to identify legal persons who take part in financial transactions. The LEI is also used when reporting in the financial markets. From 1 April 2017 all new issuers will be registered with VPS with its LEI. The LEI consists of 20 characters, it is unique and can be applied worldwide. The issuers will find a list of LEI issuing organisations at gleif.org.
CFI
Classification of Financial Instruments (CFI) is an ISO standard that has been developed to classify financial instruments and standardise communication and registration. So far the ISO standard has consisted of 6 main categories. Today’s main categories will, however, be expanded to include a total of 14 main categories. The number of characters (6) for each CFI will be maintained.
FISN
Financial Instrument Short Name (FISN) is an abbreviation for a financial instrument, and is a brand new ISO standard that will be introduced due to new requirements for reporting to the authorities.
The abbreviation may have a maximum of 35 characters
- 15 characters represent the short name of the issuer
- Separator /
- 19 characters representing instrument characteristics
