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: An update on data standards and global identifiers

Data standards and global identifiers have been parts of capital markets’ practices for many years, and more are being developed, reviewed and shaped as the industry acknowledges their role in streamlining data management, reducing risk, improving transparency, and achieving compliance. This webinar will discuss data standards and identifiers in play, as well as those in...

BLOG

ESG Data is “in a Key Moment” – Industry Responds to Upbeat Bloomberg Survey

In a year when headlines focused on political pushback gave the impression that sustainability-focused investment strategies may be in decline, a survey from Bloomberg paints an altogether different picture. ESG data investment is growing and set to continue growing at least into the next 12 months, the financial data giant’s ESG Data Acquisition and Management...

EVENT

RegTech Summit New York

Now in its 8th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...