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SCA Starts Numbering Stocks of Local Firms Listed on ADX/DFM.

Summary: The Emirates Securities and Commodities Authority (SCA) has started issuing National Securities Identifying Numbers (NSIN) to stocks of local companies listed on the Abu Dhabi Stock Exchange and DFM.

The Emirates Securities and Commodities Authority (SCA) has started issuing National Securities Identifying Numbers (NSIN) to stocks of local companies listed on the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM).

One hundred and nine (109) NSINs have so far been issued, in a move, the SCA said, is aimed at implementing the best international practices in facilitating smooth securities trading in the country.

The SCA gained the membership of the International Securities Identification Number (ISIN) in the later part of 2009.

By virtue of the ISIN membership, the SCA started issuing identifying numbers to securities being issued in the UAE under a unified ISIN code.

The move seeks to provide each security an international securities code which will be used in local and international trading of that security.

The UAE ISIN consists of two letters and 12 digits, beginning from left to right (AE A0001 0000 01 01 #).

The first two letters represents the code of the country issuing the security, as the AE represents the UAE code.

This is followed by a letter and four digits, which represent the code of the issuer of the security, as the letter preceding the four digits represents the first letter in the English name of the company issuing the security.

This is also followed by another four digits representing the serial number of the security, followed by two digits which identify the type of the security, followed by another two digits which represent the issuance number and the final digit represents the confirmation number.

The SCA urges all those using the old ISIN to switch to the new one before December 1, 2010.

The numbers can be found at the SCA website: www.

sca.

ae.

2010 Al Bawaba (www.

albawaba.

com)

2010 Al Bawaba (Albawaba.com)

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Publication:Albawaba.com
Date:Nov 9, 2010
Words:336
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