In order to accurately represent and certify information, we generate annual Certification mailings that are sent directly to issuers. Doing so provides the opportunity for the issuing organization to review and have direct input into the data maintained and distributed. If there are any discrepancies, or if any information appears to be incorrect or missing, we ask that those changes be noted on the questionnaire provided. Once the issuer provides any revisions or updates, CGS registers their securities as "Certified by the issuer". A Certified status is an indication to market participants that the issuer has participated in the update process, has reviewed the information and has Certified the data as correct. An annual Certification fee covers the review, modification, maintenance and certification process.
While the Certification Program is an annual initiative, we ask that the issuer contact CGS regarding any data changes or corporate actions as often as necessary.
This information also serves as the basis for generating an additional 6-character product classification code that identifies core data attributes of an issuer’s financial instrument which are of great importance to investors in the U.S. and abroad. Known as the Classification of Financial Instruments (CFI) code, this was developed by the International Organization for Standardization (ISO) as a unique standard. The combined benefits to an issuer of having widespread availability of its CGS identifiers, standardized securities data and CFI codes are immeasurable, reaching thousands of market participants every day.