Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 3

The industry worldwide must satisfy the need for efficient, fast settlement by full adherence to the International Securities Numbering process (ISO 6166) and uniform usage of ISO 15022 based standards for all securities messages. The industry should seek to introduce a global client and counterpart identification methodology (BIC - ISO 9362) to further facilitate straight through processing. Applications and programmes should be structured in such a way as to facilitate open inter-action between all parties.

1.	Does the market use ISIN as the primary securities identification code?	Although the Swiss market knows a national securities number (Valorennummer), all tradable securities also carry an ISIN for identification. The ISIN is the primary identifier used in all messages to/from SIS.
2.	Are the major participants in the market linked electronically?	All SIS participants are required to link to SECOM electronically. Instructions on paper and/or other media (e.g. tape) are only accepted under extraordinary circumstances (disaster) in line with established contingency procedures.
3.	Does the depository communicate using true (i.e. not bilaterally agreed on sub-standards) ISO standards for securities messaging?	True ISO standards are used where possible, however, in cases where the current ISO standard does not suffice in terms of information required SIS uses modified versions. SIS has already introduced ISO 15022 compatible message types.
4.	Does the market operate standard identification codes for counterparties or client accounts and, if so, how do (or could) these fit into a single global identification methodology?	SIS uses proprietary identification codes for client accounts ("Business Partner ID").