Subject: ECO
Corporate and Municipal CUSIP Request Volume Bounces Back in August
NEW YORK, Sept. 17, 2019 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for August 2019. 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 increases in CUSIP request volume across most major asset classes in August.
CUSIP identifier requests for the broad category of U.S.- and Canada-issued equity and debt increased 9.1% in August. The growth was driven by a 6.8% increase in requests for domestic corporate equity identifiers and a 27.9% increase in domestic corporate debt identifiers. On a year-to-date basis, total volume for North American corporates was down 3.9% through the end of August.
Municipal CUSIP requests also increased in August. The aggregate total of all municipal securities ? including municipal bonds, long-term and short-term notes, and commercial paper ? saw a 9.2% increase versus July 2019. On a year-to-date basis, municipal request volume is up 10.0% through August.
"While CUSIP request volume has shown some month-to-month volatility across all asset classes so far this year, we're still seeing a level of pre-market activity consistent with strong issuance volumes," said Gerard Faulkner, Director of Operations for CUSIP Global Services. "Historically low interest rates are clearly playing some role in this, but global economic volatility is also a factor."
Requests for new international debt and equity CUSIP International Numbers (CINS) were mixed in August. International equity CUSIP requests were up 12.7% from July to August 2019 and international debt CUSIP requests fell 17.3% during the month. Year-to-date international CUSIP request volume for all international securities is down 31.0% so far in 2019.
To view the full CUSIP Issuance Trends report for August, please click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through August 2019:
Asset Class | 2019 YTD | 2018 YTD | YOY Change |
Short-Term Municipal Notes | 1120 | 742 | 50.9% |
Private Placement Securities | 2221 | 1916 | 15.9% |
CDs < 1-year Maturity | 5858 | 5344 | 9.6% |
Municipal Bonds | 7452 | 6843 | 8.9% |
U.S. & Canada Corporates | 16,240 | 17,204 | -5.6% |
International Debt | 2241 | 2688 | -16.6% |
CDs > 1-year Maturity | 5275 | 6291 | -16.1% |
Long-Term Municipal Notes | 292 | 501 | -41.7% |
| 713 | 1526 | -53.3% |
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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