Factset data was not updating because the ISIN was changed

Overview:

International Securities Identification Numbering (ISIN) system, uniquely identifies a security. The ISIN is an international standard formed by the International Organization for Standardization (ISO), for the purpose of numbering specific securities.

A typical ISIN code consists of 12 alphanumeric characters. The first two are assigned by the country of origin and by the head office of the issuing company respectively. The 9 characters between the first and the last, are utilized for unique identification of the security. The last digit acts as a check digit to prevent errors and ensure authenticity of the code.

Points to remember:

1. The ISIN code is a 12 digit (alphanumeric) numbering system for unique representation of securities such as stocks and bonds.
2. It is issued by the National Numbering Agency, present in each respective country.
3. It is structured in a way that it includes the country code where the headquarters of the issuing company are present, the specific security identification number, and a check digit.

Example

Apple, Inc.: ISIN US0378331005. Here, the country code is US for the United States, the identification number CUSIP is 037833100 and the check digit is 5.

A company's International Securities Identification Number (ISIN) may change due to corporate actions, such as:

Name change: A company may need to update or issue a new ISIN if it changes its name. For example, if a company goes public with an initial public offering (IPO) or has a private offering, it may need to update its ISIN.

Replacing securities: A company may need to replace an old security with a new one, which requires a new ISIN. This includes mergers and acquisitions, when old stock ISINs become inactive and are replaced by securities with a new ISIN.

Redeemable or convertible debt securities: When these securities are redeemed, the bond ISINs become inactive.

Stock splits: When old certificates are exchanged for new ones, a new ISIN is required.

Description:

Factset data depends upon the ISIN and it’s mapping in the VirtuaMaster.Universe table and DWCONTROLDB"."PUBLIC"."FSCOMPANYMAPPING table. If the data is correct, it will flow in the BM properly.

Issue was reported that the Factset data was not updating for the peer in the BM editor. Analyst informed that the ISIN was updated for the peer. The data was also not found in the daily factset file.

Resolution:

1. Analyst informs that the ISIN of the company was changed. Create a case for DBA to update the ISIN in the tables appropriately.

Sample Redmine ticket: https://rm.virtuaresearch.com/issues/18627

1. After the ISIN is changed, check the data in the source table and DWH table.
2. Check in BM editor and click on update. The data should be reflected.

Written by: Shivani Zinjurke          

Date: 03/August/2024