Report on CDS Markit Data Clean-up for TICKERS &

& COMP NAMES

Markit Look-Up Dimensions: TICKER, Company Name, Date Period(s)

Issues:

1. Tickers may get recycled and as such multiple matches available when merged with other databases

2. Company names are in short form or miss spaces/dots in Markit so cannot automatically be matched. Need manual review.

Solution:

Review the complete Ticker/CompName list from Markit and verify their identi- fication (i.e. match with the unique PERMNO from CRSP).

• Use Google/Yahoo Finance search engines. • Confirm Private/Public Companies

• Find alternative names and tickers

Manual Correction Steps

1. Look up the ticker in CRSP full database

2. If the ticker and company name match fully, there should be one unique PERMNO. Record any alternative names.

3. If there are alternatives, provide correct match for the time period provided in Markit.

4. If there are no matches, use Google and Yahoo finance searches. – Is the com- pany a Private company?

Results Statistics

There are total of 1833 unique Ticker/Comp Name combination in the CDS Markit Database. The final correction and inclusion provided final match of 1203 compa- nies in total.

From the remaining, the provided correction notes indicate that:

a. 15 firms are subsidiaries with parent company not found before, so parent ticker is provided.

c. Total of 340 unmatched tickers are Subsidiaries with their parents present in the database.

d. Fewer than 10 firms are result of mergers or acquisitions that are still valid for inclusion. Details provided.

3.10

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