Corporate and Municipal CUSIP Request Volumes Rise in April
May 17 2024 - 8:30AM
CUSIP Global Services (CGS) today announced the release of its
CUSIP Issuance Trends Report for April 2024. 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 a monthly increase in request volume for new
corporate and municipal identifiers.
North American corporate requests totaled 7,606 in April, which
is up 12.6% on a monthly basis. On a year-over-year basis, North
American corporate requests closed the month down 2.7%. The monthly
volume increase was driven by a rise in request volume for Canadian
corporate identifiers, U.S. corporate equity identifiers and medium
term notes.
The aggregate total of identifier requests for new municipal
securities – including municipal bonds, long-term and short-term
notes, and commercial paper – rose 5.7% versus March totals. On a
year-over-year basis, overall municipal volumes are down 1.1%.
Texas led state-level municipal request volume with a total of 100
new CUSIP requests in April, followed by California (63) and New
York (61).
“The most noteworthy moves in this month’s CUSIP Issuance Trends
data set were in the municipal bond market, where volumes have
increased for the second consecutive month,” said Gerard Faulkner,
Director of Operations for CGS. “In the corporate segment, we see
some movement at the headline level, but the major asset classes,
like U.S. corporate debt and equity and certificates of deposit,
were largely flat this month.”
Requests for international equity CUSIPs fell 19.7% in April and
international debt CUSIP requests fell 5.8%. On an annualized
basis, international equity CUSIP requests are down 8.4% and
international debt CUSIP requests are up 83.1%.
To view the full CUSIP Issuance Trends report for April, please
click here.
Following is a breakdown of new CUSIP Identifier requests by
asset class year-to-date through April 2024:
Asset Class |
2024 YTD |
2023 YTD |
YOY Change |
International Debt |
1,846 |
1,008 |
83.1% |
Syndicated Loans |
892 |
734 |
21.5% |
U.S. Corporate Equity |
3,762 |
3,231 |
16.4% |
U.S. Corporate Debt |
8,234 |
7,253 |
13.5% |
Short-Term Municipal Notes |
292 |
261 |
11.9% |
Long-Term Municipal Notes |
104 |
98 |
6.1% |
Private Placement Securities |
1,188 |
1,123 |
5.8% |
Municipal Bonds |
2,690 |
2,745 |
-2.0% |
Canada Corporate Debt & Equity |
1,861 |
2,010 |
-7.4% |
International Equity |
499 |
545 |
-8.4% |
CDs > 1-year Maturity |
2,929 |
3,328 |
-12.0% |
CDs < 1-year Maturity |
3,336 |
4,583 |
-27.2% |
About CUSIP Global Services
CUSIP Global Services (CGS) is the global leader in securities
identification. 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 plus years has helped CGS
earn its reputation as the industry standard provider of reliable,
timely reference data. CGS is also a founding member of the
Association of National Numbering Agencies (ANNA) and co-operates
ANNA’s hub of ISIN data, the ANNA Service Bureau. CGS is managed on
behalf of the American Bankers Association (ABA) by FactSet
Research Systems Inc., 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 is the voice of the nation’s
$23.7 trillion banking industry, which is composed of small,
regional and large banks that together employ approximately 2.1
million people, safeguard $18.8 trillion in deposits and extend
$12.5 trillion in loans.
For More Information:
John Roderickjohn@jroderick.com+1 (631) 584.2200