Definition of International Organization for Standardization (ISO)

The International Organization for Standardization or ISO is an international nongovernmental organization made up of national standards bodies; it develops and publishes a wide range of standards.

Understanding the International Organization for Standardization (ISO)

The International Organization for Standardization is comprised of 162 members, all national standards bodies, and is located in Geneva, Switzerland. The organization's short name, ISO, is not an acronym, but derives from the ancient Greek ísos, meaning equal or equivalent.

ISO develops and publishes standards for a vast range of products, materials, and processes. The organization's standards catalog is divided into 97 fields which include healthcare technology, railway engineering, jewelry, clothing, metallurgy, weapons, paint, civil engineering, agriculture, and aircraft.

ISO 4217 currency codes are the most commonly used abbreviations in forex trading: EUR for the euro, JPY for the yen, USD for the dollar, MXN for the Mexican peso.