CUSIP Global Services Launches Municipal Pre-Refunded Linkage Service

NEW YORK, May 13, 2014 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the launch of its Municipal Pre-Refunded Linkage Service. Created to identify and link partially pre-refunded municipal bonds into one record, the new product will reduce clerical errors that could arise from the manual process typically followed in today's market. The service will also aid in the risk management of partially pre-refunded bonds, which are frequently backed by U.S. Treasuries.

The new service assigns CUSIP numbers when a municipal bond is partially pre-refunded, a situation that occurs when a portion of the outstanding principal amount of an issue is pre-paid before the scheduled maturity date. The service contains over 59,000 linked issues which include reference data for the partially pre-funded parent, the newly issued pre-refunded bond and the newly issued bond for the un-refunded balance. The service is delivered daily via FTP in the form of an initial master file along with daily updates.

"We are constantly surveying our clients for ways we can offer solutions to help in their daily operations," said Jim Taylor, Managing Director and Head of CGS. "This product underscores our commitment not only to the municipal market, but to all of those who are looking for easier ways to properly track municipal assets in their portfolio."

About CUSIP Global Services
The financial services industry relies on our unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets.

Our extensive focus on standardization over the past 45 years has helped us earn the reputation for being the trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly.

CGS is managed on behalf of the American Bankers Association (ABA) by S&P Capital IQ, 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 $14 trillion banking industry and its two million employees. Learn more at www.aba.com.

SOURCE CUSIP Global Services

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