By
Nikita Bundzen Head of North America Fixed Income Department
Updated October 23, 2024
What is a CIC Code?
Complementary Identification Code (CIC) is integral to the identification and classification of financial instruments, particularly within the international financial community. Operating as a mandatory asset classification scheme, the CIC plays a crucial role in ensuring standardized and accurate financial reporting, aligning with the regulations outlined in the Insurance Supervision Act.
The CIC code is designed to identify a broad spectrum of financial instruments, with a specific emphasis on securities. Its application extends to bonds, where each individual bond is assigned its own unique CIC code. This distinctive code serves as a key to precisely identifying and categorizing various financial instruments, facilitating efficient management and reporting.
Structured as a four-digit alphanumeric code, the CIC incorporates geographic data alongside specific details about the instrument it represents. This dual functionality enhances the code's utility, providing not only a means of identification but also offering valuable insights into the geographical context or other relevant information pertaining to the financial instrument.

Structure of a CIC Code
Country Code (Digits 1 and 2). The first two digits of the CIC code are dedicated to indicating the country where the stock exchange related to the financial instrument is located. These digits adhere to the country code format specified by ISO 3166-1-alpha-2. This part of the code offers insight into the geographic origin of the financial instrument, providing a standardized reference for the country in which it was purchased.
Financial Instrument Type (Digits 3 and 4). The third and fourth digits of the CIC code function as identifiers for the specific type of financial instrument. For instance, if the third digit is 1, it signifies that the financial instrument falls into a particular category, such as government bonds. This segment of the code allows for a nuanced classification, enabling users to distinguish between different types of financial instruments based on their parameters.
Example
Let's illustrate the Complementary Identification Code (CIC) for a French government bond with the ISIN FR0000187361 acquired at the NYSE Euronext Paris stock exchange:
ISIN: FR0000187361
Stock Exchange: NYSE Euronext Paris
Representation via data field "Solvency 2 CIC":
CIC code: FR11
Explanation:
The first two digits "FR" in the CIC code represent the country code for France according to ISO 3166-1-alpha-2.
The following digits "11" specify the type of financial instrument. In this case, "11" corresponds to "Government bonds, Central Government bonds" as per the Solvency 2 CIC classification.