01 October 2014

Cusip introduces cross-referencing data service for portfolio validation

10 October 2012  |  1252 views  |  0 Source: Cusip

CUSIP Global Services (CGS), the world's largest provider of security identifiers, today announced the launch of the CGS Portfolio Service, a new portfolio validation solution designed to help financial firms quickly cross-reference their holdings with the CGS database of 14 million global securities.

The new service was designed to help firms who require a fast and flexible mechanism for confirming the validity of the identifiers in a portfolio and downloading descriptive data for the same securities. Market participants using the new services can send CGS their portfolio constituents using CUSIP, CINS or ISIN identifiers and receive validation flags and corresponding issue and issuer level data in return. This additional layer of validation ensures that portfolio holdings are accurate and linked to critical reference data used in clearing, settlement and risk management processes without the need for rigorous in-house database maintenance requirements. The process also ensures the accuracy of identifiers used in TRACE, MSRB and NAIC reporting.

"Accurate, timely reference data is the lynchpin to efficient markets in this era of high-speed, high volume trading," said Joel Nadelman, Product Director at CUSIP Global Services. "With these requirements in mind, CGS is committed to continually developing new solutions that help market participants of every size achieve that level of efficiency. The CGS Portfolio Service helps level the playing field by allowing large and small firms achieve the rigorous level of portfolio validation they need and which global markets demand."

The CGS Portfolio Service supports standard delivery via FTP utilizing pipe delimited text files. Processing time is under an hour, but usually less than 15 minutes depending on the size of the inbound file. There are over 90 descriptive data elements returned in the validation process including, but not limited to, CUSIP, CINS and ISIN validation flags, issuer and issue description, issuer and issue status, CFI classification codes, ticker, coupon rate, maturity date, currency and domicile.

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