Bloomberg has argued the ISIN standard is unsuitable and bad for competition
Bloomberg has upped pressure on Europe to
drop the mandatory use of the International Securities
Identification Number under Mifid II by writing a letter to
The data and tech giant said in a letter
to Lord Hill sent in January but only published late last week
the ISIN standard should be dropped because of its technical
shortcomings and it does not foster competition.
Bloomberg has added its voice to those of
trade bodies the International Swaps and Derivatives
Association (Isda) and the Global Financial Markets Association
(GFMA) who previously asked the European Securities and Markets
Authority (Esma) to remove the mandate to use ISINs as an
instrument identifier under Mifid II.
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