🔄 CUSIP vs ISIN Differences

While CUSIPs are 9 characters for North American securities, ISINs are 12 characters for global securities. Apple's CUSIP 037833100 becomes US0378331005 as an ISIN by adding the country code 'US' and recalculating the check digit. ISINs provide global standardization, while CUSIPs focus on North American markets. Many securities have both identifiers for different trading venues.