What is CUSIP-linked MIP code?

CUSIP-linked MIP code (CLIP) is used to identify the reference entity of a credit default swap. It's mainly used as a key field in Markit's Reference Entity Database (RED). Each CLIP is linked with one or more CUSIPs each representing reference entity obligations.

Where have you heard about CUSIP-linked MIP code.

CUSIP numbers are publicly available, and can be accessed through the Municipal Securities Rulemaking Board via the Electronic Municipal Market Access system. The information is also often listed on official statements about a security - for example, on confirmations of purchase or periodic financial statements.

What you need to know about CUSIP-linked MIP code.

CUSIP stands for 'Committee on Uniform Securities Identification Procedures' and refers to a 9-digit alphanumeric code assigned to all security issues approved for trading in the US and Canada. The CUSIP system is owned by the American Bankers Association in conjunction with Standard & Poor’s.

MIP is a synonym of Markit Partners. S&P and Markit Partners introduced the CLIP concept, and entity CLIP codes are generated by the S&P CUSIP Bureau. CLIP codes are used for electronic matching on the Depository Trust & Clearing Corporation and have been integrated in various online platforms.