Ipreo will serve as a point of origination for CUSIP requests, simplifying new-issue transactions for all participants
Ipreo, a premier global provider of market intelligence and productivity solutions to financial services and corporate professionals, and CUSIP Global Services (CGS), a leading provider of unique security and entity identifiers, announced the signing of an agreement whereby Ipreo's new-issuance systems will serve as a global, cross-asset class point of origination for CUSIP and ISIN requests on primary new-issue transactions.
Under the agreement, originators will be able to submit CUSIP and ISIN requests directly from Ipreo's global cross asset class bookbuilding systems. Furthermore, once created, the identifier will be automatically populated back into the system, allowing for the identifiers to be distributed in the most timely and seamless manner to both sell-side and buy-side participants involved in the new issue offering.
"Our central position in the capital-raising process allows us to receive a continuous stream of feedback from market participants, and this is a need we've been hearing loud and clear," said Allen Williams, EVP and Managing Director of Global Fixed Income at Ipreo. "We're pleased to be collaborating with CGS to provide the best way possible for transaction participants to manage securities in a more efficient manner at the most critical part of the origination process."
Ipreo and CGS already have a 20-year relationship of providing this type of direct connectivity to the Municipal market. The new agreement will enable similar integrated CUSIP functionality for the Equity and Fixed-Income markets globally.
"As a standards practitioner with over 45 years of experience, we are committed to making it as easy as possible for market participants to secure CUSIPs and related descriptive data as part of their natural workflow," said Scott Preiss, VP and COO at CGS. "We've been successfully working with Ipreo in the Municipal space for years, and we're delighted to extend this level of integration to the Equity and Fixed-Income markets."
The integration will benefit both sell-side and buy-side participants. "Timely access to industry-recognized identifiers is an essential component of every new-issue transaction," said Bill Sherman, EVP and Managing Director of Global Data Strategy at Ipreo. "The CUSIP integration is in line with our ongoing commitment to provide solutions that better connect market participants and streamline the capital-raising process."