The Republican Central Securities Depository, being a partner of the Association of National Numbering Agencies (ANNA) since 2008, performs the functions of the National Numbering Agency (NNA) in the Republic of Belarus. This function provides for the assignment of international codes ISIN, CFI and FISN to issues of securities of Belarusian issuers. The Central Securities Depository is entitled to perform this function according to Art. 46 of the Law of the Republic of Belarus "On the Securities Market". In 2020, the Central Securities Depository received the status of a full member of ANNA. In 2021, it became the first NNA in the Eurasian Economic Union to join the ANNA and GLEIF project to link International Securities Identification Codes (ISIN) and Legal Entity Identifiers (LEI).
For reference. ANNA (Association of National Numbering Agencies, ANNA) is an international organization founded in 1992 by a group of 22 national numbering organizations from different countries. Today ANNA has 100 full members and 19 partners from 128 countries.
Assignment of international codes to financial instruments is regulated by ISO international standards. ANNA is the Registration Authority for ISO 6166 (ISIN - International Securities Identification Number), ISO 18774 (FISN - Financial Instrument Short Name); provides financial markets with uniform identification codes to securities for use in international trading, clearing and settlement systems; creates and maintains a single codes database; promotes the implementation of ISO 10962 (CFI - Classification of Financial Instruments), ISO 10383 (MIC - Market Identification Code), ISO 17442 (LEI - Legal Entity Identifier) standards.
On January 1, 2022, a new edition of the ANNA ISIN Uniform Guidelines came into force, taking into account changes in ISO standards. In accordance with the adopted amendments, NNAs were given the right to assign international identification codes to financial instruments issued on the blockchain. ANNA clarifies the concept of "investment tokens (security tokens)" as unique financial instruments that were first issued on the blockchain and do not have underlying fiat securities, but demonstrate similar economic characteristics.
Given the significant level of development of the markets and infrastructure of digital financial instruments in the Republic of Belarus, the Central Securities Depository, in accordance with the right granted to it by ANNA, launches a project to assign international identification codes to investment tokens issued by legal entities of the Republic of Belarus.
Participation in the implementation of this project will allow interested issuers of tokens to increase the investment attractiveness of their digital financial instruments by bringing the parameters of their emission (circulation) closer to international standards. International codes can be assigned to both already issued and planned tokens. The Central Depository is ready to provide token issuers with all the necessary information materials, provide consulting support and promote this feature in networks, systems, platforms and infrastructure.
Today, tokenized digital assets are the most diversified and actively developing group of digital investment instruments. Strengthening the infrastructure of investment tokens will increase demand for both traditional and digital financial instruments, increase liquidity and technological effectiveness of markets. Digital financial assets can and should become complementary tools in the system of transformation of savings into investments in the financial market of the Republic of Belarus.
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