With the ever growing complexity of the financial markets today, one method of identification that can be trusted is the industry standard APIR® Code. APIR® Codes remain the same for the life of the individual, business structure or product enabling them to remain identifiable even if their name, status, or ownership changes. APIR® Codes avoid the confusion, system errors and administrative complications the proliferation of numbering systems would cause.
APIR® Codes are used across the industry by fund managers, research houses, wraps and master funds and software houses to unambiguously identify fund managers and their products. They are also published freely and extensively on websites and portals, including Bloomberg Financial Planning software, Margin Lending firms, Fund Managers and Research Houses.
APIR® Codes are allocated to products and participants in the Financial Services Industry. APIR® Codes are primarily allocated to unlisted investments, such as managed funds or public offer and corporate superannuation funds, also Responsible Entities, Administrators and/or Trustees and Individuals.
APIR® is currently working with the research houses in the risk product area to identify and code all life/risk products.
APIR® Codes are allocated using a series of business rules to link the relationships that exist for products and participants. For example, a basic standalone product is linked to its Responsible Entity and if relevant, to its Administrator and/or Trustee.
APIR® provides product codes for over 146 fund managers in Australia and New Zealand, covering a significant proportion of the industry's funds and funds under management. With over 14,000 active codes, APIR® Codes are used extensively across the industry's open systems activities.
All APIR® identifiers and other services are based on international standards and are designed for international use. They have also been designed to meet industry and regulatory needs while being understood by, and accessible to, the public.
The initial development phase has focused on Australia and New Zealand, however discussions have already commenced for the adoption of the APIR® methods in other financial services industries in the region.
The Participant APIR® Code, Product APIR® Code and SPIN consist of nine alpha/numeric characters; the last two characters are the ISO 3166-2 country code for the country in which the Participant is legally domiciled.
Participant APIR® Codes, Product APIR® Codes and SPIN's are used widely throughout the financial services industry and in the media to improve information flow and business processing. Below we have listed some areas where APIR® Codes are found to be useful.
Annual Maintenance fees are for the annual re-registration and directory administration fee for all your codes, including: Participant APIR® Codes, Product APIR® Codes, SPIN's and ISIN's. This also includes any changes that may occur to your participant or products during the year e.g. name changes, entity changes etc.
NB. Product Terminations are charged separately, see 11 for more information
The one-off archive fee per code covers the ongoing maintenance of terminated products. APIR® maintains all codes for 'life' on the APIR® database. Whilst the code will no longer be visible on the public website or included in any data file transfers, many users in the industry require access to data on terminated products e.g. ATO, Centrelink, Research Houses, Financial Planners etc. This access is managed on an individual basis through our Client Services Department.
NO. APIR® Codes are issued for the 'life' of a Participant and/or Product. Even if the Responsible Entity or product changes name or the Responsible Entity of a product changes, the participant and/or product code will remain the same.
The Participant APIR® Code, Product APIR® Code or SPIN will normally be issued and/or changed within five working days from the time APIR® receives the correctly completed application form. Large bulk applications may take longer and APIR® will contact the Participant to notify them of the expected completion date.
To fast track an application please contact APIR® , contact details can be found by clicking here .
As soon as the application is processed, APIR® will issue a tax invoice. It will be mailed to the attention of accounts payable and to the business postal address or street address specified on the application, the contact person listed on the application will also be included on the invoice.
You should receive your APIR® Code within 5 working days of APIR® receiving a fully completed application form. If the information is not fully completed you will be contacted by a member of the APIR® Client Services Department and the application will not be processed until all necessary information is received.
If you have any queries regarding your application please contact the relevant staff member, contact details can be found by clicking here .
Our research indicated that PIC for product codes and PRI for participant codes in the industry are widely recognised but are almost universally published as *APIR® Code* and this is reflected in the new naming convention for a product and participant code.
Yes you do. The change in naming does not change the fact that our codes are the industry standard to identify products and, importantly, the relationships and roles of participants related to a product. Examples include a RE's, Trustee, and Administrator. Without an APIR® code, the industry cannot unambiguously identify the association between your business and/or role and your products. This is essential in research, transactions, reporting, and distribution.
A Participant APIR® Code is a unique code used to uniquely identify participants within the financial services industry and remains unchanged for the 'life' of the individual or business structure. These may be either organisations or individuals, such as, a Responsible Entity, a Trustee, an Administrator, a Dealer Group, a Financial Planning group, a Financial Planner, a Stockbroker and a Financial Researcher.
Participants include organisations or individuals conducting financial activities that are subject to regulation. These include Government Departments, Statutory bodies, Life Insurance Companies, Dealers, Brokers, Investment Managers, Proper Authority Holders, Insurance Agents, Finance Brokers Representatives, Accountants, Lawyers, Stockbrokers and others who need to be uniquely identified in transactions or messages.
The Person completing the application form must be a duly Authorised Person of the Organisation. They must have administrative rights to this product's details, which means they have authorisation to register the product/s and change details about the product/s. They will also be recognised as the APIR designated contact for this product.
The APIR® Code provides a standardised method of identification for unlisted investment products, including superannuation funds, for use in e-commerce and open systems data exchange. FSC (Financial Services Council of Australia) recommends the use of the APIR® Code to its members as the industry standard product identifier.
The Product APIR® Code is very widely used within the financial services industry in Australia and increasingly in New Zealand. Major systems managers, researchers and data suppliers use the APIR® Code. A few examples are AUSMAQ, AdviserLink (NZ), InvestmentLink, InvestmentLink (NZ), ASSIRT, Morningstar, IDT, Lonsdale, Bloomberg etc.
A Product APIR® Code can be allocated to any unlisted investment approved for distribution to the public, superannuation fund and wholesale investment pools that are accessed by other funds or which in any other way form part of an investment that has public participation.
While investments traditionally listed on a Stock Exchange have not normally been listed by APIR® , new generation products that are offered in both the listed and unlisted markets are increasingly being coded by APIR® .
In addition to the APIR® Code, each product is allocated a Shortened Name and an Abbreviated Name. We have found that software and data providers have a requirement to include shortened or abbreviated identification in performance tables, portfolio reports and data transfers. Sometimes the APIR® Code is insufficient but a Full Name is not appropriate. Under such circumstances the Shortened Name or Abbreviated Name is available.
Some retail superannuation funds offer member choice using a wrap administration service. Instead of using the traditional master trust method of striking their own prices for each investment option, these funds use the pricing of the underlying investments and add on their fees and charges, leaving the pricing disaggregated.
These superannuation funds therefore do not code their individual investment options but use the APIR® Code for the underlying asset.
A SPIN level product is the marketing name of the Superannuation product and is the level at which a superannuation funds bank account is held. This is usually the next level down from the Fund level that has the Superannuation Fund Number (SFN), the Australian Business Number (ABN) and the Trust Deed.
The APIR® SPIN is used as an alternative to the Destination Provider Member Account Number (DPMAN) for the transfer or rollover of funds between Superannuation Providers. Using this number allows for faster transactions between Superannuation Funds as no cheques have to be written. Having a SPIN is also an indication that your Superannuation Fund is a complying fund (for ATO purposes) as only complying funds can be issued with a SPIN.
*No.* Self Managed Super Funds (SMSF's) do not require a SPIN. The Destination Provider Member Account Number (DPMAN), the bank account from where the Superannuation Fund is run, can still be used by SMSF's to identify their funds.
If you would like to know if your Superfund has a SPIN and what that SPIN is, you can go to the following site www.spindirectory.com.au . The SPIN Directory website allows you to search by the name of your fund, and if you don't have that by the name of the superannuation provider.
In 2004 ASX appointed APIR® Systems Limited as a sub-numbering agency for the allocation of International Securities Identification Numbers (ISIN's). APIR® allocates ISIN's to Collective Investment Vehicle products which are:
products of issuers domiciled in Australia, and
not traded on the ASX or any other stock exchange, and
products for which APIR assigned product identification codes are recognised by the Financial Services Council (FSC) as the industry standard identifier in Australia.
ISIN codes are used Internationally for product identification purposes.
*Yes.* When details about a participant or product changes, it is important that you inform APIR® to ensure the information available on the Directories is current. You must also inform APIR® of the date that these changes occurred.
These changes are covered by the annual maintenance fee. If you do not pay your fees these changes can't be made and this could result in out of date information being displayed on our website and supplied in data feeds. NB. the termination of a participant or product incurs a one off fee additional to Annual Maintenance Fees, see 11.