Cusip finds new home at FactSet as industry watches warily
Though the standard has always been operated by a private entity, industry sources say its new operator could create a perception issue for FactSet. For its part, the vendor says the purchase (for a “stunning” total of nearly $2 billion) is meant to further its “open data” strategy.
FactSet ended its year with a bang—for its buck, that is. On December 27, the financial data provider announced that it would acquire Cusip Global Services (CGS), the operator of the Cusip reference data standard, for $1.925 billion. Once the deal is finalized, which is expected this quarter, FactSet will become the second entity to operate the Cusip system on behalf of the American Bankers Association (ABA), the standard’s founder and owner, in more than 50 years.
Last year, the European
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