In July 1964, the New York Clearing House Association approached the American Bankers Association to develop a way to improve operating efficiencies across the industry by developing a standard method of identifying securities. The Committee on Uniform Security Identification Procedures (CUSIP) was created to work on this issue.
This resulted in the establishment of the CUSIP system and, in 1968, the CUSIP Service Bureau was formed to administer the system. Over the years, the organization's core competencies in securities identification and data management, as well as their strong relationships with industry stakeholders positioned it as a catalyst for innovation. As coverage expanded to include new financial instruments and geographies, CGS emerged as the overarching entity for all CUSIP offerings.
The evolution
of CUSIP Global Services
1964
CUSIP system is established. The New York Clearing House Association approaches the ABA to develop the Committee on Uniform Security Identification Procedures (CUSIP).
1968
CSB (now CGS) was formed. ABA selects Standard & Poor’s (now S&P Global Market Intelligence) to manage CGS.
1972
All clearing corporations begin using CUSIPs, making them the mandatory identifier for all brokerage firms.
1975
The Federal Reserve Bank’s automated book entry system uses CUSIPs to accelerate the transfer of United States Treasury Securities.
1977
The SEC establishes a lost and stolen securities recovery program using CUSIPs.
1983
The MSRB rules that all trade confirmations of municipal bonds must have a CUSIP identifier
1983
CUSIPs are assigned to Certificates of Deposit (CDs).
1984
The National Securities Clearing Corporation establishes an electronic transfer program for municipal bonds based on CUSIPs, replacing paper certificates.
1989
CUSIP International Numbering System (CINS) is introduced for non-North American securities actively traded internationally.
1989
Private Placement Numbers (PPNs) for the National Association of Insurance Commissioners are assigned.
1990
CUSIPs are assigned to commercial paper issues.
1993
CUSIP Xpress enables one-hour requests for straight-through processing.
1994
CUSIPs are assigned to private limited partnerships for the Securities Pricing and Reporting Service (SPAR).
1994
CUSIPs are assigned to corporate transferable and non-transferable securities for the Midwest Securities Clearing Corporation.
1998
CUSIPs are assigned to bankers acceptances.
1998
CUSIPs are assigned to TBAs (To Be Announced) for Federal Agency Mortgage Pools.
2003
CLIPS/RED CUSIP-like identifiers are assigned to credit default swap entities in joint effort with Markit Partners.
2003
CUSIPs are assigned to indices.
2004
CUSIPs are assigned to syndicated loans.
2006
144A Service is launched providing CUSIPs for 144A, Accredited Investor and Registered issues, and CINS for Regulation S issues
2006
CGS Municipal Issuer Access is launched
2007
CGS CUSIP New Issue Alert is launched.
2009
CGS Business Entity Identifiers are launched.
2011
CGS expands TBA algorithm to cover new types of federal agency pools.
2012
CGS launches its Hedge Fund Service to uniquely identify over 11,000 hedge fund products.
2013
CGS takes prominent standards role in development of global Legal Entity Identifiers.
2014
CUSIPs are assigned to private placements (crowdfunding).
2016
CGS issues CUSIPs for physical precious metals.
2017
CGS becomes an investor in the Derivative Service Bureau (DSB).
2018
CUSIP PULSE, data feed offering real-time dissemination of CGS identifiers, is launched.
2020
CGS adds Government Stimulus Program coverage.
2021
CGS adds Green Bond Indicator fields.
2022
FactSet acquires CUSIP Global Services from S&P Global, becoming just the second operator to manage the CUSIP system.
2023
The CUSIP Entity Identifier (CEI) is launched to uniquely identify legal entities in the syndicated loan market.