What Is a Valoren Number?
Let me tell you directly: a Valoren number is an identification number assigned to financial instruments in Switzerland. You can think of it as similar to the CUSIP numbers used in Canada and the U.S. Typically, a Valoren number ranges from six to nine digits in length.
How a Valoren Number Works
A Valoren number is just a numeric code with no intrinsic meaning. When you need a new one, the next available from the list gets allocated—it's that straightforward. The number itself tells you nothing about the instrument. Market data firms and financial institutions across Europe use Valoren numbers to refer to Swiss companies or store trade data, treating them as a key means of security identification. Unlike ISINs or CUSIPs, there's no data embedded in Valoren numbers.
These Swiss Valoren numbers come from SIX Financial Information, which is a subsidiary of SIX Group, a multinational financial data vendor headquartered in Zurich, Switzerland. The company operates offices in over 20 countries and gathers market data directly from major trading venues in real-time. Its database includes structured and encoded securities administration data for more than 20 million financial instruments.
The History Behind SIX Financial Information
SIX Financial Information started out as Telekurs. In 1996, it restructured into a holding company and expanded its product range. Then, in 2007, Telekurs acquired part of the Fininfo Group. The big change came in 2008 when Telekurs Group merged with SWX Group, SIS Swiss Financial Services Group, and SEGA Intersettle to form SIX Group. At that point, Telekurs Financial became SIX Telekurs, serving as the Financial Information division of SIX Group. Finally, on April 23, 2012, the 'Telekurs' name was phased out entirely.
Purposes and Uses of a Valoren Number
You can use a Valoren number for various purposes in identifying financial instruments. Globally, it's allocated to any financial instrument that meets the rules. Combine it with the Market Identifier Code (MIC) and currency code, and you get a unique way to identify a traded instrument. It's also handy for transaction reporting and position keeping.
In Switzerland and Liechtenstein, the Valoren number acts as the main identifier in the Swiss Value Chain. Financial institutions in the region and beyond rely on it as their primary tool. Note that for derivatives, Valoren numbers may be reused once the derivative expires.
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