S&P Simplifies Cusips for Rule 144a

NEW YORK-Standard & Poor's Cusip Service Bureau plans to release an identification service for Rule 144a securities later this month.

Rule 144a is a Securities and Exchange Commission (SEC) rule that modified a two-year holding period requirement on privately placed securities to allow institutions to trade these securities among themselves. This eliminates some of the restrictions placed on publicly traded instruments. Since these securities tend to be re-sales or re-offers, the instruments