SEDOL vs CUSIP: Equities Identification Codes Compared

In the world of finance, two identification codes are commonly used to identify equities: SEDOL and CUSIP. SEDOL stands for Stock Exchange Daily Official List, a code assigned by the London Stock Exchange.

The London Stock Exchange assigns SEDOL codes to securities listed on its market. SEDOL codes are used for settlement and other post-trade activities.

A CUSIP, on the other hand, is a nine-character alphanumeric code assigned by S&P Global Market Intelligence. CUSIP codes are used to identify securities traded in the US and Canadian markets.

While both codes serve the same purpose, they are used in different regions and have distinct characteristics.

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SEDOL is a unique code assigned to securities listed on UK stock exchanges, helping traders and investors identify securities. It's a seven-character code that denotes listed companies and financial assets on the London Stock Exchange and other UK exchanges.

The code is alphanumeric, with the first six digits being a combination of letters and numbers, and the seventh digit being a trailing check digit.

SEDOL codes are used to eliminate trading errors in the global marketplace by providing a swift and easy identification feature.

Here are some key characteristics of SEDOL codes:

SEDOL is a popular identifier used in the UK, alongside the ISIN code, and is used to identify UK-based stocks and bonds.

SEDOL is a seven-character alphanumeric code uniquely assigned to different forms of assets, common securities, and trust funds. It's used to identify securities listed on the London Stock Exchange and other exchanges in the UK.

The SEDOL code is split into two parts: the first six digits are alphanumeric codes, and the seventh digit represents the trailing check digit. This helps to ensure swift and easy identification of securities, eliminating trading errors in the global marketplace.

Here's a comparison between SEDOL and CUSIP:

A SEDOL is assigned to a security during the initial listing process on a UK stock exchange, such as the London Stock Exchange (LSE).

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The SEDOL is typically assigned by the Depository Trust & Clearing Company (DTCC) in the UK, which is responsible for maintaining the SEDOL database.

A unique SEDOL number is generated for each security, allowing for efficient identification and trading.

The SEDOL is usually 7 characters long and consists of a combination of letters and numbers.

SEDOLs are used in the UK, while CUSIPs are used in the US and Canada.

A SEDOL is not the same as an ISIN, although both are used to identify securities.

SEDOLs are used in various applications, including trading, settlement, and risk management.

ISIN and CUSIP are two identifier systems used in the financial world. The main difference between them is their usage and management.

ISIN, or International Securities Identification Numbering System, is used internationally for trade and settlement in the global marketplace. It has twelve characters in its code.

CUSIP, on the other hand, is used in the US market for all registered US and Canadian companies, bonds, and commercial papers. It has nine characters in its code.

Here's a comparison of the two:

CUSIP is authorized by the American Bankers Association and managed by Standard & Poors, while ISIN is operated by the International Organisation for Standardization.

Equities identification is a crucial aspect of the financial world, and two popular systems used for this purpose are SEDOL and CUSIP. SEDOL, or Stock Exchange Daily Official List, is a seven-character code used to identify securities listed on the London Stock Exchange and other UK exchanges.

SEDOL codes are assigned to various types of securities, including common stocks, investment trusts, unit funds, bonds, and insurance-based securities. Each character in the code is equal to its position in the alphabet plus nine.

A key feature of SEDOL codes is their unique identification of securities, which helps traders, investors, and market analysts quickly and easily identify the securities they're dealing with.

SEDOL codes are alphanumeric, consisting of the first six digits and a seventh digit that serves as a trailing check digit. Companies can have multiple SEDOL codes, similar to their ISIN identification number.

Here's a comparison of SEDOL, CUSIP, and ISIN codes:

CUSIP, or Committee on Uniform Securities Identification Procedures, is a nine-character code used in the US market for registered US and Canadian companies, bonds, and commercial papers.

The TBA CUSIP format is a specialized identification scheme for To Be Announced mortgage-backed securities. It was developed by CUSIP Global Services (CGS) in collaboration with the Mortgage Bankers Standards Committee (MBSCC).

A TBA CUSIP incorporates a security's mortgage type, coupon, maturity, and settlement month into the identifier itself. This is made possible through a specific algorithm that breaks down the CUSIP into distinct positions.

Here's a breakdown of the TBA CUSIP algorithm:

The exact values for each position are available in a spreadsheet called the TBA Grid.

Understanding the check digit lookup table is crucial when working with CUSIP codes. This table helps you determine the value to use for the check digit calculation.

The table lists the characters that can appear in a CUSIP code and their corresponding values. For example, the character "J" has a value of 0 in the odd position and 1 in the even position.

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The values for the check digit calculation are determined by the character in the CUSIP code. If the character is "0", the value is 0 in both the odd and even positions. If the character is "J" or "S" or "@", the value is 0 in the odd position and 1 in the even position.

Here's a summary of the check digit lookup table:

Remember, the check digit lookup table is a crucial tool for accurately calculating the check digit for a CUSIP code.

The SEDOL code is a 6-digit code used by the United Kingdom to identify UK based stocks and bonds.

It's a widely recognized identifier in the UK, often used alongside the ISIN code.

SEDOL codes are assigned to all securities listed on UK stock exchanges, helping traders and investors quickly identify securities.

A SEDOL code is a seven-character alphanumeric code, with each character equal to its position in the alphabet plus nine.

The code is split into two parts: the first six digits are alphanumeric codes, and the seventh digit represents the trailing check digit.

A company can have multiple SEDOLs, comparable to its ISIN identification number.

Here are some key facts about SEDOL codes: