Corporate and Municipal CUSIP request volume surges in September

CUSIP identifier requests for the broad category of US and Canadian equity and debt totalled 4,816 in September, up 17.4 per cent from last month, according to the latest CUSIP Issuance Trends Report from CUSIP Global Services (CGS).

On a year-over-year basis, corporate CUSIP requests are up 10.5 per cent. September volumes were driven by an 84.9 per cent monthly increase in requests for corporate debt identifiers and an 18.1 per cent monthly increase in requests for corporate equity identifiers.

Municipal requests also climbed in September. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – surged 18 per cent versus August totals. On an annualised basis, municipal CUSIP identifier request volumes were up 12.6 per cent through September.

"Record low interest rates and lingering fears of a possible liquidity crunch throughout most of this year have not materially slowed the pace of new capital creation in the major fixed income and equity asset classes," says Gerard Faulkner, Director of Operations for CGS. "While we continue to see month-to-month volatility in CUSIP request volume, the overall direction in US corporate and municipal securities continues to trend positive so far this year."

Requests for international equity and debt CUSIPs were mixed in September. International equity CUSIP requests were down 29.1 per cent versus August. International debt CUSIPs increased 66.8 per cent on a monthly basis. Syndicated loan requests were up 37.9 per cent on a monthly basis and down 31 per cent year over year.