Classification of financial instruments
EFIC – Enhanced Financial Instruments Classification
In light of the ever increasing innovation in the financial markets, the ability to compare financial instruments based on uniform criteria is crucial. While the names of financial instruments may have hinted at their risk and cash flow structures in the past, this can no longer be taken for granted. Previously, no classification scheme in which all available securities were identified on a comparable basis was available in the German market.
As the central service provider to the financial market, WM Datenservice was motivated to create such comparability, based on the financial industry mandate of 9 June 2005.
For an overview of the system and its field descriptions, click here.
For codes, decodes and the changeover from securities categories/types, click here.
Minutes of the respective committee meeting and the introduction timetable.