CFI
Classification of Financial Instruments
An ISO standard six-character code that classifies financial instruments by type, structure, and characteristics.
CFI codes, defined by ISO 10962, provide a standardized method for categorizing financial instruments across all asset classes. The six-character structure includes category (equities, debt, derivatives), group, attribute 1, attribute 2, attribute 3, and attribute 4, each providing specific classification details. This system enables consistent instrument classification across different markets, data vendors, and regulatory regimes. CFI codes are mandatory for regulatory reporting under MiFID II and other regulations, helping authorities monitor market activity and systemic risk. The classification covers everything from simple stocks and bonds to complex derivatives and structured products, providing granular detail about instrument characteristics and behavior.
Example
ESVUFR (Common Share) — E (equity) + S (shares) + V (voting) + U (unrestricted) + F (free) + R (registered)