CUSIP Global Services (CGS) today announced the launch of CUSIP FIRST, a new financial instrument request system which lets requesters fast-track new bulk CUSIP ID issuance in 15 minutes or less. Using XML technology, this innovative system allows underwriters to submit requests for new CUSIP numbers by extracting data already captured on their internal systems. The service returns CUSIP numbers and standardized data elements to requesters and disseminates this data to the industry through CGS distribution platforms faster than ever.
CUSIP FIRST (Financial Instrument Request SysTem) works by creating straight-through processing of debt and equity offerings to CUSIP Global Services, eliminating the need for requesters to manually duplicate issuer/deal information already captured in their internal systems.
âWe actively survey customers in order to gauge the pulse of the markets and improve our product offerings,â said Gerard Faulkner, CUSIP Director of Operations. âDifferent market participants have different needs and the CUSIP FIRST solution is ideal for corporate and municipal underwriters who make multiple CUSIP requests daily because it saves time and reduces the likelihood of error in the request process. This initiative has been critical to helping our customers stay one step ahead of the constantly evolving capital markets and to keeping those markets running efficiently.â
CUSIP FIRST follows on the success of CUSIP REACH (Retail CD Express Automated CUSIP Hub), a similar program launched in 2008 to streamline the issuance of Certificate of Deposit ID creation. CUSIP FIRST expands the CGS fast-track capabilities into corporate and municipal asset classes.