Dummy CUSIP Number
What Is a Dummy CUSIP Number?
A dummy CUSIP number is a transitory, nine-character placeholder utilized internally by a company to identify a security until its official CUSIP number is assigned. Real CUSIP numbers are utilized to identify U.S. what's more, Canadian securities while recording buy and sell orders.
Grasping Dummy CUSIP Numbers
A dummy CUSIP number is a transitory nine-character alphanumeric code that acts as a seat saver before the official CUSIP number is assigned. The dummy CUSIP — the abbreviation represents Committee on Uniform Securities Identification Procedures — is developed for internal company use, however it might never really be changed to an official identifier. Dummy CUSIPs may likewise be assigned to securities that are as of now not in presence.
The initial six characters of a CUSIP identify the issuer of the security, whether a company, government office or municipality. The next two characters assign the type of issue, meaning whether it is an equity or debt security. The last character is utilized as a mathematical check to guarantee the precision of the prior eight numbers.
A dummy CUSIP is supplied by CUSIP Global Services (CGS), managed for the benefit of the American Bankers Association by S&P Global Market Intelligence. CUSIPS were presented in 1964. Justifiably, these numbers are unique in relation to the real CUSIP numbers. There are two configurations that have been utilized to think of dummy CUSIPs:
- The 4th, 5th, and 7th characters are generally the number 9.
- Real issue number with the number 9 as the 7th character.
North American CUSIP and Foreign CINS
The CUSIP number is a unique ID number given to all equity and registered debt securities in the United States and Canada. The identifiers were developed to lay out a distinct difference between securities that are traded on public markets. They likewise work on the settlement and clearance of associated securities by providing a consistent identifier to assist with separating the securities inside a trade.
Foreign securities have a number like CUSIPs called the CINS number. CINS is an abbreviation for the CUSIP International Numbering System, which was laid out during the 1980s to stretch out the CUSIP system to securities markets outside of North America. Like CUSIP numbers, CINS have nine characters. Nonetheless, one unique feature of the CINS system is that the main character is dependably a letter, which implies the nation of origin of the issuer.
Finding a CUSIP Number
Finding a CUSIP number for a security can in some cases be a test. To see the whole database of CUSIP numbers generally requires paying a fee to Standard and Poor's or a comparable service that approaches the database. Nonetheless, there are presently several resources that can be utilized to find and access CUSIP numbers.
For example, individual companies habitually display their CUSIP numbers to investors on their sites. CUSIPs can likewise be gotten through the Municipal Securities Rule making Board (MSRB) by means of the Electronic Municipal market Access (EMMA) system. Besides, the data is many times listed on reports connecting with the security, like affirmations of purchase or periodic financial statements. CUSIPs can likewise be accessed through different securities dealers.
Features
- A dummy CUSIP number is a brief, nine-character placeholder utilized internally by a company to identify a security until its official CUSIP number is assigned.
- A dummy CUSIP is supplied by the CUSIP Global Services (CGS), which is managed for the benefit of the American Bankers Association by S&P Global Market Intelligence.
- Real CUSIPs are utilized to identify U.S. furthermore, Canadian securities while recording buy and sell orders.
