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

Cusips Adopted as Numbering Scheme In New Syndicated Loan Service

Subscribe to our newsletter

The Loan Syndications and Trading Association (LSTA) has teamed up with Standard & Poor’s to launch a new service that provides Cusip and Cusip-based ISIN numbers along with core descriptive data for syndicated loan deals and facilities. Currently the syndicated loan market uses different IDs to represent in the same credit in proprietary systems used by administrative agents, lenders, traders, potential buyers, regulators and various pricing and ratings vendors. The new Syndicated Loan Service uses the Cusip system to establish a common numbering system to reference syndicated loans in the corporate loan market. The initial release contains approximately 2,000 Cusip numbers for deals and facilities. The subscription services contains daily additions and changes to deals as released by the 21 administrative agents currently applying for Cusip numbers (which covers 80 percent of the corporate loan market).

The LSTA, the trade association for corporate lending and loan trading, formed a committee back in November 1999 to address the issue of unique identifiers for syndicated loans. It was decided that adopting the Cusip numbering scheme, as well as being endorsed by the American National Standards Institute (ANSI) and the Association of National Numbering Agencies (ANNA), would provide a number of benefits. These include precise exchange of information, reconciliation and increased efficiencies and improved settlement times, among others.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

Alteryx QnA: Automating Data and Analytics Transformations

California-based Alteryx has been helping financial institutions solve complex analytical tasks for more than a quarter of a century. Data Management Insight spoke to Jon Pexton, chief financial officer, to find out what drives the company and how its services benefit its clients. Data Management Insight: Hello Jon, when was Alteryx created and how does...

EVENT

Eagle Alpha Alternative Data Conference, Fall, New York, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

The Data Management Implications of Solvency II

Bombarded by a barrage of incoming regulations, data managers in Europe are looking for the ‘golden copy’ of regulatory requirements: the compliance solution that will give them most bang for the buck in meeting the demands of the rest of the regulations they are faced with. Solvency II may come close as this ‘golden regulation’:...