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

CUSIP Global Services Makes its CABRE Business Entity Database Freely Available to CUSIP Customers

Subscribe to our newsletter

CUSIP Global Services (CGS) today announced plans to make its CABRE business entity identifier database freely available to CUSIP customers, effective 1 December. The new standard code, known as a CABRE (CUSIP Avox Business Reference Entity identifier), was created through a strategic partnership between CGS and Avox Limited, a DTCC company. The CABRE database is currently generated and maintained for more than 335,000 issuers, obligors and counterparties on a global basis.

By providing free access to CGS customers – a group that includes over 1,000 financial firms worldwide –the CABRE initiative addresses the growing market need for a universally accepted business entity identification system.

“Accurate, well-maintained reference data on securities and legal entities is a growing priority for the financial services industry,” said Scott Preiss, vice president, CUSIP Global Services. “With the unprecedented focus by global market participants – including the regulatory community – on a common language for business entity identification, we recognise the need to provide transparency and unrestricted access to such a standard. Free access to the CABRE database represents the latest reinvestment by CGS in a mission-critical, industry-wide requirement.”

The CABRE has been designed as a 10-character code that is available as an adjunct to existing services, and is also available to global market participants in a variety of distribution options, including portfolio, bulk-file and web-based applications. The format also lends itself to a collaborative industry model in the event there is coalescence around an emerging ISO standards scheme, such as the Issuer & Guarantor Identifier (IGI or ISO/CD 16372) or an updated version of the Business Identifier Code (BIC or ISO 9362).

“Identifiers are at the core of every financial transaction and, increasingly, they have become a fundamental component of the risk management process,” said Jim Taylor, managing director, CUSIP Global Services. “Individual companies will always have proprietary identifiers within their own organisations, but it is now essential that the industry and regulators have access to a standard to which everyone can cross-reference. This is foundational to efficient global markets.”

The strategic partnership between CGS and DTCC/Avox is part of an industry-wide effort by CGS to collaborate with market asset experts to quickly and cost-effectively create industry standard identifiers for complex asset classes. Over the past two years, this effort has led to the creation of unique identifiers for listed equity options, syndicated bank loans and hedge funds. DTCC and CGS have worked together in the past to bring unique instrument identification to the capital markets for commercial paper, medium term notes, institutional CD’s and other money market instruments. Moreover, DTCC has had a standing representative on the CUSIP Agency Board of Trustees for more than a decade, helping fuel the exponential growth of asset classes and geographic regions covered by the CUSIP system during that time.

“As we have done with recent asset class expansions and associated reinvestments, CGS has worked closely with our industry board of trustees to augment our understanding of the market’s entity identification requirements”, said C Diane Poole, senior vice president, data management and policy at the American Bankers Association. “This unique insight from senior industry leaders has been instrumental in making today’s announcement a reality.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Are you making the most of the business-critical structured data stored in your mainframes?

Fewer than 30% of companies think that they can fully tap into their mainframe data even though complete, accurate and real-time data is key to business decision-making, compliance, modernisation and innovation. For many in financial markets, integrating data across the enterprise and making it available and actionable to everyone who needs it is extremely difficult....

BLOG

Being Prepared for Tomorrow Requires an Advanced Data Architecture Today

By Don Huff, Global Head of Client Services and Operations, Bloomberg and Maureen Gallagher, Head of Enterprise Reference Data, Bloomberg. Data has quickly become the hottest commodity in the financial sector: trading and investment teams are laser-focused on accessing the best, newest data to get an edge on the competition. While this arms race for...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook – Fourth Edition

Need to know all the essentials about the regulations impacting data management? Welcome to the Fourth edition of our A-Team Regulatory Data Handbook which provides all the essentials about regulations impacting data management. A-Team’s series of Regulatory Data Handbooks are a great way to see at-a-glance: All the regulations that are impacting data management today A...