CUSIP Global Services and American Bankers Association Joint Statement on FactSet Acquisition of CGS from S&P Global.
ENPNewswire-December 29, 2021--CUSIP Global Services and American Bankers Association Joint Statement on FactSet Acquisition of CGS from S&P Global
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Release date- 28122021 - Global provider of integrated financial information will become only the second operator of the CUSIP system in more than 50 years.
CUSIP Global Services and the American Bankers Association welcomed today's announcement that FactSet has reached a definitive agreement to acquire CUSIP Global Services from S&P Global. The transaction means that FactSet, based in Norwalk, Conn., would become just the second operator to manage the CUSIP system on behalf of ABA.
'The entire CGS staff looks forward to joining the impressive team at FactSet and to ensuring that the CUSIP system continues to deliver best-in-class securities identification and data management solutions,' said Scott Preiss, managing director and global head of CUSIP Global Services. 'Working closely with our partners at ABA, market participants can count on the talented professionals at CGS during this transition and into the future.'
ABA launched the CUSIP system with CGS in 1968 to improve operating efficiencies across the industry based on a standard method of identifying securities. Since then, CUSIP has been widely recognized as the gold standard identifier for securities. To date, more than 62.8 million CUSIP identifiers have been assigned to financial instruments, irrespective of trading venue, across a broad range of asset classes - with more than 9 million in active use today. At the request of the European Commission, S&P Global is divesting CGS in order to secure regulatory approval for its pending merger agreement with IHS Markit.
'We are excited to partner with FactSet and to build on the long, proud history of the CUSIP system to meet the evolving needs of the global capital markets,' said Rob Nichols, ABA President and CEO. 'We appreciate the close, working relationship we have had with S&P Global since CUSIP's creation more than 50 years ago, and we look to forward to exploring new opportunities to grow and expand the CUSIP system with FactSet.'
The acquisition is subject to customary closing conditions, including regulatory approvals and the consummation of the S&P Global and...
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