What are Financial Instruments Global Identifiers (FIGI) primarily used for?

Financial Instruments Global Identifiers (FIGI) are specifically designed to provide a unique identification system for financial instruments, which includes a wide range of assets such as stocks, bonds, and derivatives. The primary purpose of FIGIs is to facilitate accurate and efficient data management and integration across various financial systems and platforms. By using FIGI, stakeholders can ensure precise identification of financial instruments irrespective of their type or the jurisdiction they belong to.

This unique identification system is particularly useful within the context of financial data services, like those provided by Bloomberg, where consistent and reliable reference data is critical. Each FIGI is unique to a specific financial instrument, which helps in avoiding confusion that may arise from overlapping names or ticker symbols across different markets and asset classes.

The other options refer to different aspects of financial data or classifications, but they do not encompass the primary function of FIGIs as identifiers for financial instruments. Transaction types, government bonds, and market trends may have their own identifiers or classifications, but they do not align with the unique identification purpose that FIGIs serve.