The acronym CUSIP historically refers to the Committee on Uniform Security Identification Procedures, which was founded in 1964, during the ''paper crunch'' in Wall Street. This 9-character alphanumeric code identifies any North American security for the purposes of facilitating clearing and settlement of trades. The CUSIP distribution system is owned by the American Bankers Association and is operated by Standard & Poor's. The CUSIP Service Bureau acts as the National Numbering Association (NNA) for North America, and the CUSIP serves as the National Securities Identification Number for products issued from both the United States and Canada.

In the 1980s there was an attempt to expand the CUSIP system for international securities as well. The resulting CINS (''CUSIP International Numbering System'') has seen little use as it was introduced at about the same time as the truly international ISIN system. CINS identifiers do appear in the ISIDPlus directory, however.

Description

The first six characters are known as the base (or CUSIP-6), and uniquely identify the issuer. Issuer codes are assigned alphabetically from a series that includes deliberate built-in "gaps" for future expansion. The 7th and 8th digit identify the exact issue. The 9th digit is an automatically generated checksum (some clearing bodies ignore or truncate the last digit). The last three characters of the issuer code can be letters, in order to provide more room for expansion.

Issuer numbers 990 to 999 and 99A to 99Z in each group of 1,000 numbers are reserved for internal use. This permits a user to assign an issuer number to any issuer which might be relevant to his holdings but which does not qualify for coverage under the CUSIP numbering system. Other issuer numbers (990000 to 999999 and 99000A to 99999Z) are also reserved for the user so that they may be assigned to non-security assets or to number miscellaneous internal assets.

The 7th and 8th digit identify the exact issue, the format being dependent on the type of security. In general, numbers are used for equities and letters are used for fixed income. For commercial paper the first issue character is generated by taking the letter code of the maturity month, the second issue character is the day of the maturity date, with letters used for numbers over 9. The first security issued by any particular issuer is numbered "10". Newer issues are numbered by adding ten to the last used number up to 80, at which point the next issue is "88" and then goes down by tens. The issue number "01" is used to label all options on equities from that issuer.

Fixed income issues are labeled using a similar fashion, but due to there being so many of them they use letters instead of digits. The first issue is labeled "AA", the next "A2", then "2A" and onto "A3". To avoid confusion, the letters I and O are not used since they might be mistaken for the digits 1 and 0.

The 9th digit is an automatically generated check digit using the "Modulus 10 Double Add Double" technique. To calculate the check digit every second digit is multiplied by two. Letters are converted to numbers based on their ordinal position in the alphabet.

Check digit pseudocode

algorithm Cusip-Check-Digit(''cusip'') is Input: an 8-character CUSIP Output: the check digit for that CUSIP

''sum'' := 0 for 1 ≤ ''i'' ≤ 8 do ''c'' := the ''i''th character of ''cusip'' if ''c'' is a digit then ''v'' := numeric value of the digit ''c'' else if ''c'' is a letter then ''p'' := ordinal position of ''c'' in the alphabet (A=1, B=2...) ''v'' := ''p'' + 9 else if ''c'' = "*" then ''v'' := 36 else if ''c'' = "@" then ''v'' := 37 else if ''c'' = "#" then ''v'' := 38 end if

if ''i'' is ''even'' then ''v'' := ''v'' × 2 end if

''sum'' := ''sum'' + ''v'' div 10 + ''v'' mod 10 repeat

return (10 - (''sum'' mod 10)) mod 10 end function

Antitrust Review

In November 2009, ten months after launching an investigation, the European Commission formally charged Standard & Poor’s with abusing its position as the sole provider of CUSIP international securities identification codes for U.S. securities by requiring European financial firms and data vendors to pay licensing fees for their use. “This behavior amounts to unfair pricing,” the European Commission said in its statement of objections which lays the groundwork for an adverse finding against S&P.; “The (numbers) are indispensable for a number of operations that financial institutions carry out – for instance, reporting to authorities or clearing and settlement – and cannot be substituted.”

S&P; has run the CUSIP Service Bureau, the only ISIN issuer in the US, on behalf of the American Bankers Association. In its formal statement of objections, the European Commission alleges that S&P; is abusing this monopoly position by forcing financial services companies and information service providers to pay licence fees for the use of US ISINs. It claims that comparable agencies elsewhere in the world either do not charge fees at all, or do so on the basis of distribution cost, rather than usage.

See also

Central Index Key

International Securities Identifying Number (ISIN)

ISO 10383

ISO 10962

ISO 6166

NSIN

Ticker symbol

Option symbol

External links

CUSIP Website

CUSIP validation code in C

CUSIP validation routines for Informatica, Talend & Pentaho Data Integrator

References

Category:Market data Category:Acronyms Category:Security identifier types

de:Committee on Uniform Security Identification Procedures

Coordinates	34°03′″N118°15′″N
name	Joe Barton
image name	Joe Linus Barton-Congressman.jpg
birth date	September 15, 1949
birth place	Waco, Texas
state	Texas
district	6th
termstart	January 3, 1985
preceded	Phil Gramm
office2	Chairman Emeritus of the House Energy and Commerce Committee
term start2	January 5, 2011
predecessor2	John D. Dingell, Jr.
occupation	Engineer
residence	Ennis, Texas
alma mater	Texas A&M; University, Purdue University
party	Republican
spouse	Terri Barton
religion	Methodist }}

Joseph Linus "Joe" Barton (born September 15, 1949) is a Republican politician, representing (map) in the U.S. House of Representatives since 1985, and a member of the Tea Party Caucus. The district includes Arlington, part of Fort Worth and several rural areas south of the Dallas-Fort Worth Metroplex. During a Congressional hearing, Barton apologized to BP CEO Tony Hayward for the White House's investigation of the Gulf oil spill, calling it a "shakedown", which promptly raised controversy.

Early life

Barton was born in Waco, Texas, the son of Bess Wynell (née Buice) and Larry Linus Barton. He graduated from Waco High School. He attended Texas A&M; University in College Station on a Gifford-Hill Opportunity Award scholarship and received a B.S. in industrial engineering in 1972. An M.Sc. in industrial administration from Purdue University followed in 1973. Following college Barton entered private industry until 1981 when he became a White House Fellow and served under United States Secretary of Energy James B. Edwards. Later, he began consulting for Atlantic Richfield Oil and Gas Co. before being elected to the United States Congress in 1984.

Political career

Barton made his first run for elected office in 1984, when he entered the Republican primary for Texas's 6th congressional district after six-term incumbent Phil Gramm left his seat to run for the United States Senate that year. He finished first in the five-candidate field and defeated Max Hoyt in the runoff. He then defeated the Democratic nominee, former state representative Dan Kubiak of Rockdale, Texas, in the general election, having obtained 56 percent of the vote. Kubiak had lost to Gramm the previous year in the special election called when Gramm resigned to run again for the seat as a Republican candidate. Barton was one of six freshmen Republican congressmen elected from Texas in 1984 known as the Texas Six Pack. He was held to 55.8 percent of the vote in 1986 against Democrat Pete Geren (who would later be elected to Congress from a neighboring district). Since that time Barton has not faced a serious challenge, having usually won with more than 60 percent of the vote. The Democrats failed to offer a candidate against Barton in 1998 and 2000.

In 1993, Barton ran in the special election for the U.S. Senate seat vacated by the resignation of Lloyd Bentsen, who became United States Secretary of the Treasury in the Clinton administration. Barton finished third in the contest, behind state treasurer Kay Bailey Hutchison and Senator Bob Krueger, thus missing a runoff slot. He divided the more conservative vote in that election with House colleague Jack Fields of Houston.

U.S. House of Representatives

Former Chairman of the House Energy and Commerce Committee, primary House author of the Energy Policy Act of 2005, and chairman of the House-Senate energy conference committee. Both initiated and eliminated "safe harbor" provision for MTBE (in Energy Policy Act of 2005).

Co-founded the Congressional Privacy Caucus, cosponsor of the anti-spyware SPY ACT, initiated reauthorization of the National Institutes of Health.

Opposed the extension of the Voting Rights Act in 2006

A list of all bills that Representative Barton has introduced is available at Sponsored Bills and amendments at Amendments.

Barton has been the lead representative in forcing the switch from analog to digital TV and auctioning off the public airwaves to private companies.

Committee assignments

Committee on Energy and Commerce (Chair ''emeritus'')

*Subcommittee on Commerce, Manufacturing and Trade

*Subcommittee on Communications and Technology

*Subcommittee on Energy and Power

*Subcommittee on Environment and Economy

*Subcommittee on Health

*Subcommittee on Oversight and Investigations

;Caucus memberships

Congressional Caucus on Turkey and Turkish Americans

Congressional Privacy Caucus (Founder/Co-Chair)

International Conservation Caucus

Republican Study Committee

Sportsmen's Caucus

Tea Party Caucus

Political views

Budget and economy

Congressman Barton voted against the Emergency Economic Stabilization Act of 2008 in both of its manifestations.

Environment

In 2005, prompted by a February 2005 ''Wall Street Journal'' article, Barton launched an investigation into two climate change studies from 1998 and 1999. In his letters to the authors of the studies he requested details on the studies and the sources of the authors grant funding. ''The Washington Post'' condemned Barton's investigation as a "witch-hunt".

During Former Vice President Al Gore's testimony to the Energy and Commerce Committee in March 2007, Barton asserted to Gore that "You're not just off a little, you're totally wrong." Stating that "Global Warming science is uneven and evolving."

Barton tried to block the bipartisan Combating Autism Act of 2006. Barton said that the money steered toward environmental causes of autism were not the reason he blocked passage of the bill.

BP Oil Spill

On June 17, 2010, Barton accused the White House of a "$20 billion shakedown" of oil giant BP after the company agreed to establish an escrow account to pay the claims of people harmed by the oil spill in the Gulf of Mexico. He made the accusation at the outset of a House hearing where BP's chief executive officer, Tony Hayward, appeared for the first time before Congress. Facing Hayward at the witness table, Barton said, "I apologize. I do not want to live in a country where any time a citizen or a corporation does something that is legitimately wrong, is subject to some sort of political pressure that is, again, in my words — amounts to a shakedown, so I apologize." Barton was referring to the agreement that President Barack Obama announced with BP for establishment of a relief Super-fund of $20 Billion US dollars managed by a White House political appointee.

Barton's remarks were widely criticized by White House spokesman Robert Gibbs, Vice President Joe Biden, GOP congressional leadership and fellow Republicans, some of whom called on Barton to relinquish his leadership role in the House Energy Subcomittee.

Barton later said that his earlier remarks had been "misconstrued" and that he believed BP was responsible for the accident. Later that day, he issued a statement apologizing for using the term "shakedown" and fully retracted his apology to BP.

Wind energy

Barton has questioned the wisdom of deficit spending to fund an extensive national wind turbine energy generation grid. He said, "Wind is God’s way of balancing heat. Wind is the way you shift heat from areas where it’s hotter to areas where it’s cooler. That’s what wind is. Wouldn’t it be ironic if in the interest of global warming we mandated massive switches to energy, which is a finite resource, which slows the winds down, which causes the temperature to go up? Now, I’m not saying that’s going to happen, Mr. Chairman, but that is definitely something on the massive scale. I mean, it does make some sense. You stop something, you can’t transfer that heat, and the heat goes up. It’s just something to think about."

Barton Family Foundation

The Barton Family Foundation was established to support charities within the congressman's district. His daughter-in-law, Amy Barton, is the Foundation's Executive Director. Major energy corporations, such as the Chicago-based nuclear energy producer, Exelon Corporation, make major gifts to the Foundation. In June 2008, at a time when Barton had introduced legislation to assist corporations with the recycling of spent nuclear fuel, the corporation donated $25,000 to the Foundation. Exelon has also donated $80,000 to Barton's campaign funds. The Foundation gave $90,000 to the local Boys and Girls Club.

Personal life

Joe Barton and his wife Terri own several homes in the Texas cities of Ennis and Arlington. Barton has four children, two stepchildren and five grandchildren.

Citizens for Responsibility and Ethics in Washington reported that Barton paid his wife Terri $57,759 in salary and bonuses, from his campaign funds in the 2006 election cycle. A spokesman said that Terri served as the campaign's outreach director and planned fund raising and special events. Barton's daughter Kristin was paid $12,622 in salary and bonuses and his mother, Nell Barton, was paid $7,000 for a car.

Barton's office announced that, on December 15, 2005, he suffered a heart attack and was taken to George Washington University Hospital.

Barton revealed during a congressional hearing on video games that he was a video game player. He announced that he had "worked [his] way up to Civilization IV".

Barton has also been an advocate of a playoff system to determine a national champion for college football, even introducing legislation to require that any game being marketed as a national championship game be a part of a playoff. On May 1, 2010, Barton grilled Bowl Championship Series coordinator John Swofford, saying of the BCS that, "It's like communism. You can't fix it." He also suggested that the 'C' be dropped from the BCS and it be called "the 'BS' system."

References

External links

U.S. Congressman Joe Barton ''official House site''

Joe Barton U.S. Congress ''official campaign site''

Campaign contributors at ''Newsmeat''

Profile at SourceWatch

;Articles

How the Wall Street Journal and Rep. Barton celebrated a global-warming skeptic: The untold story of how a front-page article and powerful U.S. politicians morphed former mining executive Stephen McIntyre into a scientific superstar ''Environmental Science & Technology'', August 31, 2005

"Big Oil Looking for a Government Handout, Courtesy of Joe Barton" ''World Internet News'', April 2006,

"Activists Putting Heat on Barton" ''Dallas Morning News'', October 2006

Category:1949 births Category:American Methodists Category:Living people Category:Members of the United States House of Representatives from Texas Category:People from the Dallas – Fort Worth Metroplex Category:People from Waco, Texas Category:Purdue University alumni Category:Texas A&M; University alumni Category:Texas Republicans

de:Joe Barton la:Iosephus Barton fi:Joe Barton sv:Joe Barton