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Category — Issue Parameters
WKN code (German: Wertpapierkennnummer) - Abbreviation for identification number used to identify financial instruments in Germany. Generally, it is six characters long, contains both alphabetic, excluding letters I and O, and numeric characters.
This code can only be assigned by WM Datenservice, which is a member of the Association of National Numbering Agencies (ANNA). According to the laws of the Federal Republic of Germany, without the assignment of WKN and / or ISIN, a security cannot be admitted to trading on the Stock Exchange. However, there are a large number of non-listed securities that also have a WKN and an associated ISIN.
Starting from July 21, 2003, alphabetic characters were added to the code, previously only numbers were used. This is due to the fact that this year Germany began to use the international ISIN code to identify securities.
For now it is accepted that if the first two or four characters of WKN are letters, then it is the abbreviation of the issuer. In some cases, the first letter may mean the classification of paper, for example, the letter F is assigned to futures.
For Domestic German securities, WKN is part of the ISIN code. ISIN consists of 12 alphanumeric values. The characters from 6 to 11 are WKN.

For example, Landesbank Baden-Wuerttemberg (LBBW), 0.6% 15jun2022, USD , ISIN is DE000LB13MW2, and its corresponding WKN is LB13MW. The first two letters of WKN correspond to the abbreviation of the issuer.

For Eurobonds, the assignment of WKN code occurs differently, such as BMW, 0.375% 24sep2027, EUR. The ISIN of the given bond is XS2055728054, and the WKN code is A2R76R.

A distinguishing feature of WKN codes is the absence of the check digit, unlike such codes as ISIN, SEDOL, or CUSIP.
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