CUSIP and Delaware Depository Team Up for Gold Identifiers
Initiative aims to modernize precious metals market

CUSIP Global Services (CGS) has announced a collaboration with Delaware Depository, a provider of precious metals custody services, to create the first-ever CUSIP identifiers for physical precious metals.
The security identifiers, which will be assigned by CGS to the Delaware Depository's fungible products, will be used to help standardize the process of trading and tracking precious metals within investor portfolios.
Built on the standard nine-digit CUSIP taxonomy used in equity and fixed-income markets, the identifiers will initially be assigned to 93 different precious metals product types housed by Delaware Depository. The standardized CUSIP IDs will complement the proprietary, internal product codes Delaware Depository had been using previously to track and manage their clients' assets.
While the collaboration initially covers fungible precious metals, CGS plans to expand its precious metals offerings to cover non-fungible products as well.
"Though it is arguably one of the world's oldest asset classes, gold is one of the last to receive CUSIP identification. As markets and trading and portfolio management mechanisms become increasingly electronic, the need for a universal standard is growing quickly," says Matthew Bastian, director of market, business and product development at CUSIP Global Services.
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