Now, BOVESPA is celebrating 10 years since ISIN codes were introduced in Brazil. In the period, 316,302 codes were allocated, 199,244 of which are now inactive, as the securities have matured. Still, on May 31, 2005, another 117,058 codes were active.
In the beginning, codes were assigned to shares, debentures and later to government bonds for which SELIC – (Central Bank’s Special System for Clearing and Custody) served as custodian. However, it was only on September 25, 2003 that the National Monetary Council (CMN) consolidated BOVESPA’s position as the National Numbering Agency through its Resolution 3121. This resolution stipulates that pension funds invest only in securities and shares that bear an ISIN code. Today, we assign ISIN codes to securities issued by financial institutions, like CDs, BOVESPA’s options market, BM&F – Brazilian Mercantile and Futures Exchange’s derivatives, not to mention units for the whole fund industry in Brazil and notes representing agricultural products.
To handle requests for ISIN codes, BOVESPA offers an Internet platform ISIN System, through which financial institutions (79 currently have a License Agreement) submit the characteristics of their securities and the system automatically allocates codes, replies files and has searching facilities available. Without this investment, BOVESPA would not be able to meet the demand for ISIN codes.
From January 1, 2004 through May 31, 2005, BOVESPA allocated 142,278 new ISIN codes, as shows the following table:
| Category | ISIN allocated |
| Debt Instruments | 112,121 |
| Options | 27,966 |
| Equities | 1,625 |
| Futures | 355 |
| Rights | 163 |
| Others | 48 |
BOVESPA believes that the assignment of ISIN for local securities will increase in years to come, as the Brazilian capital market now considers its use as an essential standard.
