CUSIP Request Volume Rebounds in October

Traders Magazine Online News, November 26, 2018

John D'Antona Jr.

CUSIP Global Services (CGS) 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:

 

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