Corporate Equity and Municipal Debt CUSIP Request Volumes Climb Higher

NEW YORK, March 13, 2020 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for February 2020. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a significant surge in request volume for new corporate equity and municipal debt identifiers

CUSIP identifier requests for the broad category of U.S.- and Canada-issued equity and debt totaled 5,353 in February, up 23.7% from last month and 14.0% on a year-over-year basis. (Year-over-year stats and changes measure the year-to-date totals for 2020 and historical year-to-date totals for 2019.) The increase in volume was driven by a 22.9% monthly increase in request for new U.S. corporate equity identifiers and a 62.6% monthly increase in requests for Canadian corporate identifiers. Requests for new U.S. corporate debt identifiers fell 11.8% from January to February

Municipal CUSIP request volume increased in February. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – rose 10.8% versus January totals and 23.2% on a year-over-year basis.

"Through February, we are continuing to see strong request volume across most major asset classes, but we are not yet seeing what impact the market shock created by the COVID-19 outbreak will have on issuance," said Gerard Faulkner, Director of Operations for CUSIP Global Services. "We will be monitoring this data closely in the coming weeks."

Requests for international equity and debt CUSIPs were mixed in February. International equity CUSIP requests increased 27.4% versus January and increased 31.7% on a year-over-year basis. International debt CUSIPs decreased 12.1% on a monthly basis and increased 53.7% on a year-over-year basis.

To view the full CUSIP Issuance Trends report for February, please click here.

Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through February 2020:

About CUSIP Global Services

The financial services industry relies on CGS' unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 91 national numbering agencies and 25 partner agencies representing 120 different countries. CGS is managed on behalf of the American Bankers Association (ABA) by S&P Global Market Intelligence, with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.

About The American Bankers Association

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees.  Learn more at www.aba.com. 

SOURCE CUSIP Global Services

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