CUSIP Request Volumes for New Corporate Securities Increase in June

Municipal Request Volume Slows

NORWALK, Conn., July 16, 2025 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for June 2025. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a monthly increase in request volume for new corporate identifiers, while monthly request volume for new municipal identifiers declined slightly.

North American corporate CUSIP requests totaled 8,160 in June, which is up 4.1% on a monthly basis. On an annualized basis, North American corporate requests were down -1.9% over June 2024 totals. The monthly increase was driven by a 21.3% increase in request volume for new corporate equity identifiers, a 17.6% rise in request volume for U.S. corporate debt identifiers and a 6.4% increase in requests for Canadian corporate identifiers.

The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 1.2% versus May totals. On a year-over-year basis, overall municipal volumes were up 16.8% through the end of June. New York led state-level municipal request volume with a total of 233 new CUSIP requests in June, followed by Texas (151) and California (136).

“We’re continuing to see a healthy volume of new issuance activity, particularly in the corporate asset classes which have now seen monthly increases for two consecutive months,” said Gerard Faulkner, Director of Operations for CGS. “Against a backdrop of uncertainty about the future of interest rates and the economy, it will be instructive to see if issuers continue to bring new securities to market at this pace as we enter the second half of the year.”

Requests for international equity CUSIPs rose 3.8% in June and international debt CUSIP requests rose 8.2%. On an annualized basis, international equity CUSIP requests were up 17.5% and international debt CUSIP requests were up 7.2%.

To view the full CUSIP Issuance Trends report for June, please click here.

Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through June 2025:

About CUSIP Global Services

CUSIP Global Services (CGS) is the global leader in securities identification. The financial services industry relies on CGS’ unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 plus years has helped CGS earn its reputation as the industry standard provider of reliable, timely reference data. CGS is also a founding member of the Association of National Numbering Agencies (ANNA) and co-operates ANNA’s hub of ISIN data, the ANNA Service Bureau. CGS is managed on behalf of the American Bankers Association (ABA) by FactSet Research Systems Inc., with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.

About The American Bankers Association

The American Bankers Association is the voice of the nation’s $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans.

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