CUSIP Request Volume Rebounds in October, Suggesting Possible Increase in Debt and Equity Issuance in Q4

NEW YORK, Nov. 13, 2018 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for October 2018. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, found across-the-board increases in monthly request volume for new municipal, corporate equity and corporate debt identifiers in October. This is suggestive of an increase in new security issuance.

CUSIP identifier requests for the broad category of U.S. and Canadian corporate offerings, which includes both equity and debt, totaled 4,491 in October, up 6.6% from September totals. On a year-over-year basis, corporate identifier request volume through October 2018 is 3.7% higher than the same period in 2017.

Municipal CUSIP requests also increased in October, following a downturn in September. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – saw a 9.6% increase versus September. On a year-over-year basis, total municipal identifier request volume is down 12.3% versus the same period last year.

"CUSIP request volume for October is consistent with the trend toward increased levels of capital markets activity we've been seeing throughout most of the second half of the year," said Gerard Faulkner, Director of Operations for CUSIP Global Services. "While we did see a great deal of volatility in the CUSIP indicator in the early months of 2018, current readings suggest we'll see a relatively healthy volume of new securities issuance as we make our way through the fourth quarter."

Request for new international debt and equity CUSIP International Numbers (CINS) also increased in October. International equity CINS were up 14.3% during the month, while international debt CINS rose 27.6% during the month. On a year-over-year basis, international equity requests were up 11.6% and international debt requests were up 2.7%.

To view a copy of the full CUSIP Issuance Trends report, please click here.

Following is a breakdown of New CUSIP Identifier requests by asset class year-to-date, through October 2018:

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 92 national numbering agencies and 27 partner agencies representing 255 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

Related Links

http://www.cusip.com

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