The structure of the ISIN code is: 2-digit alphacountry code (ISO 3166) or XS for securities numbered by CEDEL or Euroclear; 9-digit alphanumeric code based on the national securities code or the common CEDEL/Euroclear code; a check digit computed according to the modulus 10 'double-add double'.
Issue price
The gross price placed on a new bond issue, expressed as a percentage of the principal amount.
Issuer
A corporation or governmental agency which borrows money through the sale of securities.
Issuing house
An organisation, normally a merchant bank, that arranges the details of an issue of stocks or shares, and the necessary compliance with the London Stock Exchange regulations in connection with the listing of that issue.
Istisna’a
Construction financing, where the financial institution funds the manufacturer during the construction of the asset, acquires title to that asset on completion and immediately passes title to the developer on agreed deferred payment terms.
Itayose
A method of trading employed on Japanese exchanges. Under the itayose method, which is used in the case of opening trades and the like, all orders reaching the floor before the opening are treated as simultaneous orders, and in accordance with the principle of priority, each buy order is compared with sell orders till its quantity and price are matched by a sell order and treat the price as a single price for the consumation of the transaction.
