What Is a VALOR Number? Swiss Securities Identifier Guide

Last updated: February 2026 · 7 min read

The VALOR number (also known as Valorennummer or Valoren) is Switzerland's national securities identifier. Assigned by SIX Financial Information, VALOR numbers are used to identify all financial instruments traded on Swiss exchanges. If you're investing in Swiss stocks like Nestlé, Novartis, or UBS, you'll encounter VALOR numbers regularly.

VALOR Structure

VALOR numbers are relatively simple compared to other national identifiers:

• Length: 6 to 9 digits (variable, unlike the fixed-length CUSIP or WKN)
• Format: Purely numeric — no letters
• Check digit: None
• Assignment: Sequential by SIX Financial Information

The lack of both a check digit and a fixed length makes VALOR somewhat unique among national identifiers. Validation can only be done by database lookup, not algorithmically.

Swiss Blue Chips: VALOR Reference

VALOR to ISIN Conversion

Swiss ISINs embed the VALOR number with zero-padding:

Swiss ISIN:  CH  003886335  0
             ^^  ^^^^^^^^^  ^
             |   |          |
             |   VALOR      Luhn check digit
             |   (zero-padded to 9 digits)
             Country code (Confoederatio Helvetica)

The conversion process:

1. VALOR → ISIN: Left-pad the VALOR with zeros to 9 digits. Prepend "CH". Calculate Luhn check digit. Append it.
2. ISIN → VALOR: Take characters 3–11 from the ISIN. Strip leading zeros. The result is the VALOR.

Where to Look Up VALOR Numbers

• SIX Exchange (six-group.com): Official source. Search any security → detail page shows VALOR, ISIN, and ticker.
• SIX Financial Information: The NNA that assigns both VALOR and Swiss ISINs. Paid data services for bulk access.
• finanzen.ch: Switzerland's largest financial portal. Every stock page displays VALOR prominently.
• Swiss brokers (Swissquote, PostFinance): Security detail pages show VALOR and ISIN.
• VZ Vermögenszentrum: Fund and stock lookup with VALOR display.

VALOR in Swiss Banking

Switzerland's banking sector has a unique relationship with securities identifiers due to its position as a global wealth management hub:

• Portfolio statements: Swiss banks display VALOR alongside ISIN on all account statements and portfolio reports.
• Tax reporting: The Swiss DA-1 form (for reclaiming withholding tax) identifies securities by ISIN, but bankers and clients commonly reference VALOR for brevity.
• Structured products: Switzerland has an enormous structured products market. Each product receives a VALOR number, and Swiss investors typically search by VALOR rather than ISIN.
• Fund identification: Swiss-domiciled investment funds all have VALOR numbers, making it the preferred lookup method for fund platforms.

VALOR vs Other National Identifiers

Frequently Asked Questions

Is a VALOR number the same as a Swiss ISIN?

No, but they're closely related. The VALOR is embedded within the Swiss ISIN. The ISIN adds a country code, zero-padding, and a check digit. You can always derive one from the other for Swiss securities.

Do Liechtenstein securities have VALOR numbers?

Yes. SIX Financial Information also serves as the NNA for Liechtenstein. Securities registered in Liechtenstein receive both a VALOR number and an ISIN (with country code "LI").

Can international securities have VALOR numbers?

SIX assigns VALOR numbers primarily to securities listed on Swiss exchanges. International securities not listed in Switzerland typically don't have VALOR numbers. However, some cross-listed or widely traded international instruments may be assigned a VALOR for Swiss market participants.