Starting on October 1, Reuters is changing about 4000 of its 76,000 European equity Reuters Instrument Code (RIC) identifiers in order to prevent duplication of RIC names in advance of MiFID’s implementation. RICs from about four dozen exchanges will be affected.

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Concern among industry participants is growing about the possible operational and financial implications of the current lack of a standard International Business Entity Identifier (IBEI) for use in transaction reporting under MiFID. The issue raised its head (again) during a meeting of experts this month in London under the auspices of an ISO Working Group, but had been flagged as a matter of concern more than a year ago (MiFID Monitor, February 2006).

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