FIGI — Historical Names

Raised by Tom Rutt:

6.2.4 Financial Instrument Name: if the name changes, and the FIGI identifier remains the same, how is the sequence of subsequent names managed and recorded by the RA?

Historical Names

One of the differentiating features of the FIGI is that it does not change through corporate actions. Since corporate actions can, and frequently do, include name changes, the request here is to clarify if and how FIGI addresses historical names. To address this, Section 6.2.4 shall have a paragraph added as follows:

"As it is the identifier that serves as the source of persistence through change, any changes in names are simply that, changes in names. The FIGI itself, which does not change, simply has the value of the Financial Instrument Name class change for a particular individual. Historical names are not part of the FIGI standard, though there is nothing precluding any organization from capturing and storing historical FIGI data for their own needs including, but not limited to, the Financial Instrument Name ."