CINS Number - Explained
What is a CINS Number?
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Table of ContentsWhat is a CINS Number?How is a CINS Number Used? Academic Research for Cusip International Numbering System (CINS) Number
What is a CINS Number?
A CINS number is an identification number for international securities, securities that are non-US or non-Canadian. CINS is an acronym for the CUSIP International Numbering System, it is a numbering system that aids easy identification of securities offered outside of Canada and the United States. CINS provides unique identification numbers for securities of this nature.
How is a CINS Number Used?
CUPS means CUSIP International Numbering System, it is an identification number for securities issued from countries outside of North America. A CINS number has nine characters which are used for the identification of international securities whether they are corporate or municipal securities. Commercial or local securities offered form places outside of the U.S and Canada are also assigned the CINS identification number. CINS is an extension of the CUSIP number, it was introduced in the 1980s for the easy identification of international securities. Avbout 1.3 million entries of securities are identified by CINS. CINS consists of 9 characters, these characters inform people of the country where the security issuer comes from and the peculiar security problem of each security.
Academic Research for Cusip International Numbering System (CINS) Number
- The Electronic Product Code™(EPC™) as a Meta Code, Brock, D. L. (2003). Massachusetts Institute of Technology. The EPC™ (Electronic Product Code™) is used as a source of identifying physical objects. It includes retail products but packages, containers, shipments, assemblies, components and more common physical systems. It is an extensible, simple and short code basically designed to reference to network data efficiently. Many other identification coding systems perform the same function, e.g. the UPC (Uniform Product Code), the VIN (Vehicle Identification Number) and the GTIN (Global Trade Item Number). This paper suggests referencing other ID codes in other coding systems, means, using the EPC™ as a meta-code to identify objects uniquely and correlate disparate numbering systems.
- Financial Services and Data Heterogeneity: Does Standardization Work?, WP, C. (2000). This paper discusses big regulatory and technological changes happening in the Financial Services (FS) sector and how it is changing the data needs of FS companies. The author illustrates the idea of data heterogeneity and provides related examples in many key categories and why to introduce such categories into data sources of a firm. Then, he examines standardization examples between FS firms and one leading FS firm. He applies a Standards-Based method to resolve the issue of data heterogeneity. Finally, he suggests a few potential shortcomings showing how alternative approaches may help, such as the one developed at MIT.
- Morrison, the Restricted Scope of Securities Act Section 11 Liability, and Prospects for Regulatory Reform, Grundfest, J. A. (2015). J. Corp. l., 41, 1. The research has been carried out to evaluate the limited scope of section 11 liability and prospects for RR (Regulatory Reform) of the Securities Act on Morrison. The strict liability has been imposed on issuers for materials omissions or misrepresentation in the registration statements checked by the SEC (Securities & Exchange Commission). A negligence liability sliding scale form has also been created which applies to accountants, directors of the issuers, underwriters and other defendants. Section 11 liability is a mean of several largest class-action securities recoveries in the past. It may act as the most plaintiff-friendly provision of the FSL (Federal Securities Laws), in case, the plaintiffs meet the requirements of section 11.
- An analysis of data standardization across a capital markets/financial services firm, Bader, J. (1999). This article analyzes the issue of information-sharing within and across an organizations various hierarchical levels. Specifically, the authors emphasize the effect that data structures have on decisions at the managerial level in CMFS firms (Capital Markets/Financial Services). Its senior management makes decisions continually which require low-level data aggregation. As businesses, based on the expertise, are mostly separated, different guidelines have been provided about the data. The result is a large array of data structures in the organization. Different data structures may be incompatible and impede the data aggregation and flow across the businesses. Consequently, there is limited communication in subunits.
- The design of global financial systems: a case study, Krishna, S. (1990). (Master's thesis, Massachusetts Institute of Technology, Sloan School of Management). This paper examines the main problems arising in the Global Systems design. Particularly, it is a case study of such custody system recently implemented at a big international bank in New York. It includes trades clearing, portfolios accounting and reporting on actions of the corporate for international securities. Presently, this business is being conducted applying costly labour intensive and error-prone methods. It commits to improving QoS by allowing direct connections to depository systems, online real-time access to aggregate portfolio data and preparation of custom summary reports. Finally, the author addresses 3 main problems, i.e. data administration, organization and deployment.
- An analysis of data standardization across a capital markets/financial services firm, Joan Bader, C. H., Razo, J., Madnick, S., & Siegel, M. (1999). This article analyzes the issue of information-sharing within and across an organizations various hierarchical levels. Specifically, the authors emphasize the effect that data structures have on decisions at the managerial level in CMFS firms (Capital Markets/Financial Services). Its senior management makes decisions continually which require low-level data aggregation. As businesses, based on the expertise, are mostly separated, different guidelines have been provided about the data. The result is a large array of data structures in the organization. Different data structures may be incompatible and impede the data aggregation and flow across the businesses. Consequently, there is limited communication in subunits.
- Competition in the credit rating Industry: Benefits for investors and issuers, Morkoetter, S., Stebler, R., & Westerfeld, S. (2017). Journal of Banking & Finance, 75, 235-257. This article is an empirical investigation of the advantages of multiple ratings at the time the debt instruments are issued and during the monitoring phase subsequently. The authors use a monthly record of credit rating migration data on all United States residential mortgage-backed securities. The findings are that the rating agencies struggle in outlook revisions and rating when tranches are allocated multiple ratings. In such a case, the agencies discriminate tranches w.r.t default risk. The authors find a move in collateral to senior tranches incentives, on the downside, for issuers to involve in rating shopping activities. But, there is no evidence that the agencies exploit this behaviour to trap more rating businesses.
- Rating agencies and information efficiency: Do multiple credit ratings pay off?, Morktter, S., Stebler, R., & Westerfeld, S. (2015). This paper empirically analyzes why issuers pay and solicit for multiple ratings at issuance as well as during the debt instrument monitoring phase. The authors use a monthly unique record of credit rating migration data on all United States residential securities from 1985-2012 ever rated. The findings are that the rating agencies struggle in outlook revisions and rating when tranches are allocated multiple ratings. In such a case, the agencies discriminate tranches w.r.t default risk. Moodys presents the most conservative credit analysis in case of multiple ratings and this pattern maintains consistency throughout the life of tranches.
- SECURITIES EXCHANGE ACT OF 1934, Morgan, H. SECURITIES EXCHANGE ACT OF 1934. In this paper, the author describes the important points of the SEA (Securities Exchange Act), 1934. He states many omissions by the registrant and the rules made for them. These are deficiencies in the form, S-18. The SEA determines that a stop order must be issued to suspend the effectiveness of this form. An order is passed to grant the application of the BSE incorporation (Boston Stock Exchange) for the trading privileges not listed in the common stock of the issues registered on the national securities exchange and reported on the CTS (Consolidated Transaction System). Similarly, the orders have been issued to other stock exchanges, such as the Philadelphia Stock Exchange (PSE).
- Selected FINRA notices and disciplinary actions, June-August 2012, Davis, H. A. (2012). M Journal of Investment Compliance, 13(4), 44-65. This study presents selected FINRA (Financial Industry Regulatory Authority) disciplinary actions and regulatory notices issued in the months of June, July and Aug in 2012. It discusses communication with the public, FINRA regulatory notice 12-29 and short interest reporting notice 12-38. The findings are that the SEC approves the rule changes proposed by FINRA for introducing new communication rules w.e.f 4th Feb 2013. The author mentions 3 categories of communication, i.e. correspondence, retail communication and institutional communication. The rules are related to the approval, revision and recordkeeping requirements. The short interest reports of member firms have to reflect only the settled positions.