Difference Between ISIN and CUSIP
Codes are primarily designed to change a letter, phrase or word to another form that is used in security, signals, communication and other purposes. State agencies and financial institutions use them. ISIN and CUSIP are two codes used in commerce and finance.
Alphanumeric code containing 12 characters is International Securities Identification Number (ISIN). ISIN code consists of country code of two letters, made a national identifier of nine alphanumeric characters, and a check digit. Mainly it is used for uniform identification of securities traded and settled.
The country code is released by the ISO. The national security identifier is ensured by the National Numbering (nna) in each country.
Committee on Uniform Security Identification (CUSIP) is usually used in the U.S. It has first six characters identifying the issuer; these characters are assigned in alphabetical order.
1 “International Securities Identification Number” is for ISIN and “Committee on Uniform Security Identification purposes.” refers to CUSIP
2 CUSIP is mainly used in North America and U.S. while ISIP is used at international level.
3 CUSIP has nine alphanumeric characters while ISIN has twelve.
4 Two character code issued by ISO is used by ISIN to denote countries, while the CUSIP has no such feature.