CUSIP and ISIN Update
There was little in the way of summer doldrums with regard to CUSIP activity based on reports that several asset classes saw significant jumps in orders last month. According to information provided by CUSIP Global Services (CGS), the number of identifier requests for domestic corporate debt and equity securities totaled 1,851 in August, the best monthly showing this year for domestic corporate issues and the strongest monthly count since March 2010 when 1,915 requests were received. For the period between May and August, domestic corporate CUSIP orders have climbed 5.7% compared to results recorded during the first four months of 2011.
Similarly, CUSIP requests for municipal securities snapped back in August following a nearly 30% decline from the previous
month. August marked the third time in the past four months that monthly requests topped the 1,000 mark. According to CGS data, 1,101 CUSIPs were sought for municipal securities, excluding notes and other securities. Of note, municipal CUSIP requests during the past four months have climbed by 43.8% from the volume recorded in the first four months of the year.
Still, for the year‐to‐date period, total municipal CUSIP orders have slipped about ‐18% . Additionally, CUSIP requests for international equity securities rebounded in August after a four‐month slump. Specifically, volume totaled 325 last month, a 42.5% jump from July’s count of 228 requests and the first monthly increase since March 2011 when volume totaled 432. On the other hand, international debt CUSIP requests, reflecting the ongoing financial uncertainties permeating European markets, continues to be in the doldrums. Recent data from CGS indicates that international debt CUSIP volume slumped to 60, marking the fifth consecutive monthly decline in requests and the lowest point since April 2009. Yet, despite this recent trend, year‐overyear CUSIPs request for international debt securities is up by more than 28%. In summary, the past month saw heightened CUSIP orders which we expect to translate into a pick up in capital markets activity.
Domestic corporate CUSIP requests rebounded by 14.58% in August as 1,851
identifier orders were sought. That marked the strongest month-over-month
increase since March 2010 when total CUSIP requests for domestic corporate
equity and debt identifiers jumped 41.12% to 1,915. Contributing to the
advance was data revealing that domestic corporate debt CUSIP volume totaled
1,002 last month, marking the high water mark for 2011 besting the previous
current year monthly peak of 930 CUSIP requests in March.
Following July’s nearly -30% tumble in municipal CUSIP requests, the
past month saw a rebound of 13.5% as volume reached 1,101. That marked
the third time in the past four months that monthly municipal CUSIP
requests exceeded the 1,000 mark. Nonetheless, year-to-date total
municipal CUSIP volume is off almost -18% from the volume a year ago.
After four consecutive months of declining requests, demand for
international equity CUSIPs snapped back with a 42.5% increase to
325, the best monthly count since April 2011. On the other hand,
perhaps reflecting turmoil in European markets, CUSIP requests for
international debt securities slumped to their slowest pace since April
2009 as just 60 new identifiers were sought.
For the latest information and analysis on CUSIP activity please refer to CUSIP Global Services’ website www.cusip.com.
PPM can help assist in acquiring a CUSIP or ISIN number. Feel free to contact us for a free CUSIP or ISIN consultation.