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WKN

Category — Issue Parameters
By Nikita Bundzen Head of North America Fixed Income Department
Updated October 24, 2024

What is Wertpapierkennnummer (WKN)?

The letters WKN stand for Wertpapierkennnummer, it is a German securities identification code designed to uniquely identify financial instruments, such as stocks and bonds. Composed of six digits or capital letters, excluding I and O, the WKN stands as a key tool for investors, financial institutions, and regulatory bodies to precisely identify and differentiate between different types of securities.

WM Datenservice agency plays a crucial role in the financial world by providing Wertpapierkennnummer (WKN) and DE-ISINs, which are codes used to uniquely identify securities. Acting as an authoritative source, WM Datenservice issues and administers these identification codes in Germany. Essentially, it ensures that each financial instrument has a distinct label, making it easier for investors, financial institutions, and regulatory bodies to manage and track securities effectively.

WKN

The Role of WKN in ISINs

The Wertpapierkennnummer (WKN) plays a notable role within the context of International Securities Identification Numbers (ISINs), showcasing a seamless integration between the traditional German identification system and the global standard. In the composition of a twelve-digit ISIN, the sixth to eleventh digits specifically represent the WKN. This incorporation ensures that the unique identifier assigned by WKN remains an integral part of the broader international identification framework.

While ISINs have become the universally accepted standard for securities identification, the inclusion of WKNs in the ISIN structure signifies a commitment to preserving the historical context and specificity embedded in the German system. Investors, financial institutions, and regulatory bodies can thus benefit from a harmonized approach that combines global compatibility with the detailed information provided by WKNs.

How to Get a WKN

  1. Identify the Security. Determine the specific financial instrument for which you need a WKN. This could be a stock, bond, or another type of security.

  2. Contact Your Broker or Financial Institution. Reach out to your broker or the financial institution through which you plan to conduct the transaction. These entities typically have access to databases that include WKNs for various securities.

  3. Securities Registries. Check securities registries maintained by regulatory authorities. In Germany, for example, BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) oversees financial markets, and their databases may include WKNs for registered securities.

  4. Consult WM Datenservice. WM Datenservice is a key institution that provides WKNs. If you're unable to obtain the WKN through other means, consider reaching out directly to WM Datenservice for assistance.

  5. Work with National Numbering Agencies. National Numbering Agencies (NNAs) play a role in assigning ISINs (International Securities Identification Numbers), which may include WKNs. Consult with the relevant NNA in your country or the country of the security issuer for information.

  6. Financial Statements and Documentation. Examine financial statements and documentation related to the security. WKNs are often included in official documents and reports provided by the issuer or regulatory bodies.

FAQ

  • What are the rules for WKN?

    Composition. WKNs are composed of either six digits or capital letters, excluding the characters I and O.

    Alphanumeric Format. Since July 21, 2003, WKNs have transitioned from numeric to alphanumeric, allowing for a more versatile identification system.

    Issuer Indication. The first 2–4 letters of the WKN may indicate the issuer of the financial instrument.

    Check Digit. WKNs do not include a check digit.

    Use in ISINs. WKNs are integrated into the structure of International Securities Identification Numbers (ISINs), with the sixth to eleventh digits of a twelve-digit ISIN representing the WKN.

  • What is the WKN number example?

    As an illustration, consider the Landesbank Baden-Wuerttemberg (LBBW) security with the details: denominated in EUR, and its ISIN is DE000LB4XMY2. The corresponding Wertpapierkennnummer (WKN) for this security is LB4XMY. Notably, the initial two letters of the WKN, 'LB,' align with the abbreviation of the issuer, Landesbank Baden-Wuerttemberg.
  • Will WKNs become obsolete in the future?

    The obsolescence of Wertpapierkennnummer (WKNs) is a possibility in the future. The shift towards International Securities Identification Numbers (ISINs) globally raises the prospect of WKNs being replaced. ISINs, a twelve-digit alphanumeric code, have become the prevailing standard for securities identification, providing a unified and internationally recognized system. While WKNs are still commonly used and integrated into ISINs, there is a gradual transition towards broader standardization. The financial industry might increasingly rely on ISINs, potentially making WKNs less prominent over time. However, the actual pace and extent of WKN obsolescence will depend on industry trends, regulatory decisions, and the continued evolution of global financial practices.

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