NEW YORK, Oct. 22, 2021 /PRNewswire/ -- CUSIP Global Services (CGS) and the American Bankers Association (ABA) today reaffirmed that CUSIP operations will be unaffected by S&P Global's commitment to divest CGS as a condition for European Commission approval of its proposed merger with IHS Markit.

"The dedicated, professional team at CGS will continue to deliver the world-class service, reliability and innovation the global securities market has come to expect of CUSIP for more than 50 years," said Scott Preiss, managing director and global head of CUSIP Global Services. "CUSIP operations will remain unchanged, and we look forward to supporting market participants in every way."

ABA launched the CUSIP system with CGS in 1968 to improve operating efficiencies across the industry by developing a standard method of identifying securities. Since then, CUSIP has been widely recognized as the gold standard identifier for securities. To date, more than 62.8 million CUSIP identifiers have been assigned to financial instruments, irrespective of trading venue, across a broad range of asset classes – with more than 9 million in active use today. CGS manages the CUSIP system on behalf of the ABA.

"For more than 50 years, the American Bankers Association and S&P Global have worked together as partners to successfully operate the CUSIP system," said Rob Nichols, ABA president and CEO. "We will continue to work together to find a suitable buyer for CUSIP Global Services that is capable of onboarding the current staff and operations of CGS and committed to seamlessly delivering CUSIP's trusted service and reliability. We look forward to sharing more on CUSIP's bright future in the days ahead." 

About CUSIP Global Services

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 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 116 national numbering agencies providing ISIN coverage across more than 200 jurisdictions. CGS is managed on behalf of the American Bankers Association (ABA) by S&P Global Market Intelligence, with an advisory 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 $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

For More Information:

Farhan Husain
farhan.husain@spglobal.com
212-438-3271

Jeff Sigmund
jsigmund@aba.com
(202) 663-5439

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SOURCE CUSIP Global Services