CUSIP Request Volumes for New Corporate and Municipal Securities Rise in October

NORWALK, Conn., Nov. 18, 2025 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for October 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 and municipal identifiers.

North American corporate CUSIP requests totaled 8,236 in October, which is up 8.2% on a monthly basis. On an annualized basis, North American corporate requests were up 8.3% over October 2024 totals. Requests for new U.S. corporate equity identifiers rose 12.9% while requests for new U.S. corporate debt identifiers declined 1.6% for the month of October.

The aggregate total of identifier requests for new municipal securities ? including municipal bonds, long-term and short-term notes, and commercial paper ? rose 19.1% versus September totals. On a year-over-year basis, overall municipal volumes were up 14.4% through the end of October. Texas led state-level municipal request volume with a total of 231 new CUSIP requests in October, followed by New York (113) and California (92).

?Corporate and municipal request volumes both rose in October, signaling a strong appetite for issuers to get new securities out into the marketplace,? said Gerard Faulkner, Director of Operations for CGS. ?The significant surge in new requests for corporate equity identifiers is particularly noteworthy, because it put total year-over-year volumes back into positive territory after trending down throughout most of the year.?

Requests for international equity CUSIPs fell 5.2% in October and international debt CUSIP requests fell 17%. On an annualized basis, international equity CUSIP requests were up 25.7% and international debt CUSIP requests were up 10.6%.

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

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

Asset Class	2025 YTD	2024 YTD	YOY Change
U.S. Corporate Debt	28,906	21,745	32.9%
International Equity	1,595	1,269	25.7%
Long-Term Municipal Notes	706	564	25.2%
Private Placement Securities	4,418	3,831	15.3%
Municipal Bonds	9,847	8,660	13.7%
International Debt	5,955	5,382	10.6%
Canada Corporate Debt & Equity	5,473	5,022	9.0%
U.S. Corporate Equity	10,059	9,731	3.4%
Syndicated Loans	2,557	2,494	2.5%
Short-Term Municipal Notes	925	989	-6.5%
CDs < 1-year Maturity	7,821	8,439	-7.3%
CDs > 1-year Maturity	6,394	7,298	-12.4%

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 $25 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.7 trillion in deposits and extend $13.1 trillion in loans.

For More Information:

John Roderick
john@jroderick.com
+1 (631) 584.2200

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Source: CUSIP Global Services