Sicovam
Encyclopedia
Sicovam, an acronym for Société Interprofessionnelle pour la Compensation des Valeurs Mobilières, is both a security identifier system used to identify French
securities listed on French stock exchange
s, as well as the company set up to assign them. Sicovam was merged into the European-wide Euroclear
and as of July 1, 2003 SICOVAMs are no longer issued, ISIN
s being used instead.
was assigned 13000.
Sicovams could be directly converted to ISINs as with other older systems, including CUSIP
and SEDOL
. To do so the number was padded out with three zeros on the front, then the country code "FR" was added to the front and the ISIN check digit
to the end.
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
securities listed on French stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s, as well as the company set up to assign them. Sicovam was merged into the European-wide Euroclear
Euroclear
Euroclear is a user owned and governed Brussels, Belgium based financial services company that specializes in the settlement of securities transactions as well as the safekeeping and asset servicing of these securities. It was founded in 1968 as part of J.P...
and as of July 1, 2003 SICOVAMs are no longer issued, ISIN
ISIN
An International Securities Identification Number uniquely identifies a security. Its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper, equities and warrants...
s being used instead.
Description
Sicovams consist of a six-digit identifier, assigned by the Sicovam group "by hand" in order of issue. For instance, AlcatelAlcatel
Alcatel Mobile Phones is a brand of mobile handsets. It was established in 2004 as a joint venture between Alcatel-Lucent of France and TCL Communication of China....
was assigned 13000.
Sicovams could be directly converted to ISINs as with other older systems, including CUSIP
CUSIP
The acronym CUSIP historically refers to the Committee on Uniform Security Identification Procedures, which was founded in 1964, during the paper crunch in Wall Street. This 9-character alphanumeric code identifies any North American security for the purposes of facilitating clearing and settlement...
and SEDOL
SEDOL
SEDOL stands for Stock Exchange Daily Official List, a list of security identifiers used in the United Kingdom and Ireland for clearing purposes. The numbers are assigned by the London Stock Exchange, on request by the security issuer...
. To do so the number was padded out with three zeros on the front, then the country code "FR" was added to the front and the ISIN check digit
Check digit
A check digit is a form of redundancy check used for error detection, the decimal equivalent of a binary checksum. It consists of a single digit computed from the other digits in the message....
to the end.