Securities must be consistently identified to allow client applications to prepare accurate investment reports across all user investment accounts even at multiple FIs.At this time neither a security name nor its symbol is Standardized.Therefore OFX uses CUSIP numbers a unique 9-digit alphanumeric identifier to identify securities. CUSIP numbers are available for the vast majority of securities traded today including those without symbols such as bonds. For a security that does not have a CUSIP a financial institution must follow the Standard procedure of assigning a CUSIP by using itself as the issuer to avoid conflict with any other CUSIP....security name nor its symbol is standardized.Therefore, OFX uses CUSIP...institution must follow the standard procedure of assigning a CUSIP...
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