# CUSIP Key: `finance.securities.cusip` Committee on Uniform Securities Identification Procedures identifier. 9-character alphanumeric code for US and Canadian securities. Format: 6-character issuer code + 2-character issue number + 1 check digit. Page: Samples: `037833100`, `17275R102`, `594918104` ## Background ### Origin The origins of the CUSIP system go back to the securities settlement paper crunch on Wall Street in 1964.[[1]](https://en.wikipedia.org/wiki/CUSIP) During the paper crunch, rising trading volumes of equity securities settled by the exchange of paper stock certificates caused a backlog in clearing and settlement.[[1]](https://en.wikipedia.org/wiki/CUSIP) The New York Clearing House Association approached the American Bankers Association to develop a more efficient system for trading, clearing and settling securities by uniquely identifying all current and future securities.[[1]](https://en.wikipedia.org/wiki/CUSIP) The first CUSIP directory was published in December 1968.[[1]](https://en.wikipedia.org/wiki/CUSIP) CUSIP is an American national standard designated ANSI X9.6.[[1]](https://en.wikipedia.org/wiki/CUSIP) The American Bankers Association and Accredited Standards Committee X9 announced the approval of the updated ANSI X9.6 (CUSIP) standard on February 3, 2021.[[2]](https://x9.org/cusip-re-approved-as-u-s-standard-for-securities-identification/) The 2021 approval of ANSI X9.6 followed a review of the market by Accredited Standards Committee X9 as part of the customary five-year maintenance cycle.[[2]](https://x9.org/cusip-re-approved-as-u-s-standard-for-securities-identification/) The CUSIP system is owned by the American Bankers Association and operated by FactSet Research Systems Inc.[[1]](https://en.wikipedia.org/wiki/CUSIP) CUSIP Global Services administers the CUSIP system on behalf of the American Bankers Association.[[2]](https://x9.org/cusip-re-approved-as-u-s-standard-for-securities-identification/) CUSIP Global Services describes a CUSIP as a 9-character identifier for issuers and their financial instruments in the U.S. and Canada.[[3]](https://www.cusip.com/identifiers.html) The first six characters of a CUSIP identify the issuer.[[3]](https://www.cusip.com/identifiers.html) The next two characters of a CUSIP identify the issue within the issuer.[[3]](https://www.cusip.com/identifiers.html) The final character of a CUSIP is a check character calculated from the previous 8 characters.[[3]](https://www.cusip.com/identifiers.html) CUSIP Global Services gives 303075105, the common stock of FactSet Research Systems Inc, as an example CUSIP.[[3]](https://www.cusip.com/identifiers.html) The check digit of a CUSIP uses the Modulus 10 Double Add Double technique, which is based on the Luhn algorithm.[[1]](https://en.wikipedia.org/wiki/CUSIP) In the CUSIP check digit calculation, every second character's value is multiplied by two.[[1]](https://en.wikipedia.org/wiki/CUSIP) In the CUSIP check digit calculation, letters are converted to numbers by their position in the alphabet, starting with A equal to 10.[[1]](https://en.wikipedia.org/wiki/CUSIP) ### Use The first security issued by an issuer is given the issue number 10.[[1]](https://en.wikipedia.org/wiki/CUSIP) In general, CUSIP issue numbers use digits for equities and letters for fixed income.[[1]](https://en.wikipedia.org/wiki/CUSIP) The letters I and O are not used in fixed-income issue numbers, because they might be mistaken for the digits 1 and 0.[[1]](https://en.wikipedia.org/wiki/CUSIP) The issue number 01 is used for all options on an issuer's equities.[[1]](https://en.wikipedia.org/wiki/CUSIP) Wikipedia gives Apple Inc.'s CUSIP as 037833100.[[1]](https://en.wikipedia.org/wiki/CUSIP) Some clearing bodies ignore or truncate the last digit of a CUSIP.[[1]](https://en.wikipedia.org/wiki/CUSIP) An eight-character code in a column of CUSIPs may be a CUSIP with its check digit dropped, so it is worth checking before treating it as an error. (Meridian's view) The CUSIP International Numbering System (CINS) is a 9-character identifier that puts a letter in the first position for the issuer's country or region.[[3]](https://www.cusip.com/identifiers.html) A CUSIP or CINS identifier always appears in positions 3 to 11 of an ISIN assigned by CUSIP Global Services.[[3]](https://www.cusip.com/identifiers.html) CUSIP Global Services gives US0231351067 as the ISIN for Amazon.com Inc common stock, built around the CUSIP 023135106.[[3]](https://www.cusip.com/identifiers.html) ### Where you'll meet it The SEC publishes the Official List of Section 13(f) Securities for use in preparing reports filed under Rule 13f-1.[[4]](https://www.sec.gov/rules-regulations/staff-guidance/division-investment-management-frequently-asked-questions/official-list-section-13f-securities) An updated Official List of Section 13(f) Securities is published on a quarterly basis.[[4]](https://www.sec.gov/rules-regulations/staff-guidance/division-investment-management-frequently-asked-questions/official-list-section-13f-securities) The text file of the SEC's Official List of Section 13(f) Securities carries the CUSIP Number in character positions 01 to 09.[[4]](https://www.sec.gov/rules-regulations/staff-guidance/division-investment-management-frequently-asked-questions/official-list-section-13f-securities) The American Bankers Association reported, on the CUSIP identifier's 2021 re-accreditation, that more than 62.8 million CUSIPs had been issued across a broad range of instruments.[[5]](https://bankingjournal.aba.com/2021/01/cusip-identifier-re-accredited-as-u-s-standard-for-securities-identification/) ## Sources 1. [CUSIP](https://en.wikipedia.org/wiki/CUSIP) — secondary source 2. [CUSIP Re Approved as U.S. Standard for Securities Identification](https://x9.org/cusip-re-approved-as-u-s-standard-for-securities-identification/) — organisation 3. [About CGS Identifiers - CUSIP Global Services](https://www.cusip.com/identifiers.html) — documentation 4. [Official List of Section 13(f) Securities](https://www.sec.gov/rules-regulations/staff-guidance/division-investment-management-frequently-asked-questions/official-list-section-13f-securities) — organisation 5. [CUSIP Identifier Re-Accredited as U.S. Standard for Securities Identification](https://bankingjournal.aba.com/2021/01/cusip-identifier-re-accredited-as-u-s-standard-for-securities-identification/) — organisation