FIGI is not aligned to unique instruments
Source: Magtia Limited ( phil straszynski)
6.2.3 This is not sufficient to individuate the financial instrument,
however, as organizations issue financial instruments with exactly the same name but that trade on different exchanges.
This is a distinction that is absent in other identifiers, but serves as an individuating characteristic for FIGI.If FIGI is used a the master key in a reference database inconsistencies arise "
I do ot believe the FIGI implementation adheres to this - namely
1) All preferred's on North American Exchanges have the same FIGI yet these a discrete tradeabe instruments on different exchanges , exactly like cash equities
2) Multiple FIGI's can exist for the same Index Instrument
3) BBG create duplicate futures for option series , these all have different FIGI yet they link to the same instrument
EDZ1 Comdty GEZ1 Comdty
Reported: FIGI 1.0 — Tue, 31 Aug 2021 13:03 GMT
Updated: Wed, 8 Sep 2021 15:31 GMT