About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

CGS Reach Agreement with European Commission

Subscribe to our newsletter

CUSIP Global Services (CGS), a leading provider of securities identifiers and other solutions that enable efficient trading, clearing and settlement in capital markets throughout the world, today announced it has reached an agreement with the European Commission (EC) to create and distribute a new data feed of US ISINs tailored specifically to the needs of certain market participants domiciled in the European Economic Area (EEA). The agreement follows a formal EC investigation of how CGS licenses and charges financial institutions for use of the US ISIN identifier within the EEA during which the EC made no findings of infringement.

“We welcome the EC’s decision to allow CGS to market a new US ISIN service designed for market participants in the EEA who have unique, regional requirements and therefore require less comprehensive security identifier data than has been previously made available,” said Jim Taylor, Global Head, CUSIP Global Services. “CUSIP Global Services is continually looking at market needs and for ways to better address local investor requirements.”

Containing limited descriptive data for certain publicly traded US securities, the new data feed, called the US ISIN Basic Service, brings to conclusion nearly three years of dialogue between CGS and the EC. Within the next five months, CGS will offer the new feed on a cost-recovery basis for participants taking it directly from CGS. If a market data vendor chooses to integrate the new feed on behalf of its EEA customers, the end customers of that vendor could use the ISIN data from the feed, with some reasonable restrictions, without incurring any additional fees from CGS.

Apart from implementing the new data feed CGS will continue to reinvest in and add value to the more comprehensive data products with which most global financial institutions are familiar, whether they consume them directly from CGS or via a market data vendor. CGS will also continue to expand its asset classes; support other identification initiatives such as the push for a common legal entity identifier; and enrich the descriptive data upon which so many firms rely for efficient idea-generation, trading, clearing, and settlement.

EEA-domiciled institutions interested in gaining access to the new feed should contact CGS or their preferred market data vendor for availability. Larger institutions with concerns about how the new Service and its limited descriptive data may impact global securities processing are encouraged to contact CGS for clarification or further discussion.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Streamlining trading and investment processes with data standards and identifiers

Financial institutions are integrating not only greater volumes of data for use across their organisation but also more varieties of data. As well, that data is being applied to more use cases than ever before, especially regulatory compliance and ESG integration. Due to this increased complexity of institutions’ data needs, however, information often arrives into...

BLOG

Data’s Role in AI Transition and Value Creation: Data Management Summit London Preview

The rapid adoption of artificial intelligence by financial institutions has required a heavy data management uplift as organisations have upgraded their systems to incorporate the new technology. It has also provided greater opportunity to squeeze even more value from data by enabling its efficient deployment across enterprises. Just how companies manage data for AI to...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...