CUSIP & ISIN Number Update – Novemeber
November 2011 CUSIP Issuance Trends Update
Following the strongest month for domestic corporate securities CUSIP requests since May 2008, identifier demand for domestic corporate debt and equity securities in October dropped by more than ‐17%, representing the sharpest monthly decline since January 2010. Municipal securities CUSIP volume remained unchanged in October from the previous month as 1,255 requests were completed.CUSIP requests among international securities delivered mixed results last month. International equity CUSIP orders totaled just 211 last month marking a ‐17.3% fall from September’s count of 255 CUSIPs and the lowest count since May 2009 when 168 CUSIPs were sought. Alternatively, international debt CUSIPs demand moved higher in October marking the first back‐to‐back monthly gains since the September‐October 2009 period.
Municipal securities CUSIP volume remained unchanged in October from the previous month as 1,255 requests were completed. The result also matched the second strongest month of 2011 in terms of identifiers sought according to data from CUSIP Global Services. Despite this occurrence, municipal CUSIP volume is off by more than ‐19% from the same period a year ago. However, both long term and short term municipal note CUSIP orders saw easing last month from September’s results.
CUSIP requests among international securities delivered mixed results last month. International equity CUSIP orders totaled just 211 last month marking a ‐17.3% fall from September’s count of 255 CUSIPs and the lowest count since May 2009 when 168 CUSIPs were sought. Alternatively, international debt CUSIPs demand moved higher in October marking the first back‐to‐back monthly gains since the September‐October 2009 period. Meanwhile, private placement note CUSIP requests jumped to 280 last month, the highest monthly request this year, propelling year to date volume to more than 15% ahead of he same period’s count a year ago.
“We’re seeing the fever pitch of new corporate debt issuance start to slow as we get to the end of the year,” said Richard Peterson, Director, S&P Capital IQ “While requests for new CUSIP identifiers are still showing strong volume in domestic and international corporate debt, the pace has slowed on a month-to-month basis as uncertainty about the US and European economies continues to weigh on issuers.”
Monthly CUSIP orders for domestic corporate securities experienced their sharpest percentage drop on sequential in more than a year as 1,645 identifier requests were processed last month, a 17.3% decline from September’s count of 1,988. Still, despite the recent drop, year to date CUSIP volume for domestic corporate debt and equity issues is up more than 10%.
Monthly municipal CUSIP requests were flat in October, ending a short two month stretch of increased identifier orders. Long term municipal note CUSIP requests dropped last month dragging year to date volume to nearly half the count from the same period a year ago.
International equity CUSIP volume declined in October to 211, the lowest monthly count for the year and slowest pace of requests since May 2009 when 168 identifiers were sought. On the other hand, international debt CUSIP requests moved higher for the second straight month.
About CUSIP Trends
CUSIP Trends Global Issuance Report is a monthly compilation of new securities issuance trends and insights compiled by CUSIP Global Services (CGS), the world leader in financial instrument identification. Each report provides an analysis of securities issuance activity on a sector- by-sector, asset class-by-asset class and regional basis, offering an early indicator of nascent market trends and burgeoning hot spots of new capital creation.
Data for the report comes from the CGS database, which contains issuer, issue and entity identifiers, standardized descriptions and related data for more than 9.1 million securities, IPOs, preferred stock, funds, CDs and competitive/negotiated deals.
CGS is managed on behalf of the American Bankers Association by Standard & Poor’s. For more information, visit www.cusip.com.
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