S&P Global* reports that CUSIP* request volume surged significantly across corporate and municipal issuers, reversing a trend of flat to declining volumes of the prior two months.
- The September volumes were driven by an almost 85% monthly increase in requests for corporate debt identifiers and an 18% request for corporate equity identifiers.
- North American corporate requests were up 17.4% from August to September.
- On a year-over-year basis, corporate CUSIP requests were up 10.5%.
- Municipal volumes in September in aggregate, including municipal bonds, long- and short-term notes and commercial paper, rose 18% over August.
- The states of Texas, New York and California were among the top state issuers in September, with New Jersey and Illinois rounding out the top five.
- On a year-over-year basis, overall municipal volumes were up 12.6%.
- Record low interest rates and economic uncertainty have not materially slowed the pace of new capital creation in major fixed income and equity asset classes, a trend that is reflected by the overall positive direction in US securities issues for the year.
- International equity CUSIP requests were down almost 30% in September, but international debt CUSIP requests were up almost 67%.
* CUSIP numbers are unique identifiers used to identify securities, specifically related to US and Canadian registered stocks, US government and municipal bonds, exchange traded funds and mutual funds. CUSIP numbers provide for a standardized method of identifying securities to facilitate the clearance and settlement of trading market transactions.