make symbol of CUSIP number only identifier

fp
fp Member ✭✭✭
edited May 9 in Investments

Apparently when a brokerage changes the name of an existing position Quicken tries to add that security to the list although the symbol and CUSIP are identical. In some cases, the name is identical too. Either ticker symbol or CUSIP should be the only identification, and Quicken should ignore name changes

[Edited for Readability]

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  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited May 8

    A CUSPID is a tooth. I believe that you're talking about CUSIP.

    And the Symbol, not the CUSID, is the primary identifier.

    In your example, did the Symbol change also?

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  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I believe that you're talking about CUSID.

    Actually, that's incorrect, too. You are talking about a CUSIP Number.
    See https://www.investor.gov/introduction-investing/investing-basics/glossary/cusip-number

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Fat Finger typo. Thanks

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  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta
    edited May 8

    The use of a CUSIP number and Ticker (or fund ID) has been a source of confusion to a lot of users, including me, but what I have seen is that the CUSIP number is used to link the security at the FI (the online security) and what is held in the Quicken investment account. The Ticker symbol is used for security pricing. When the Ticker is symbol changed, then pricing get disrupted or changes to the prices of the new Ticker symbol. If I manually uncheck "Matched with online security" in Security Details, the CUSIP number is removed and the next time an update is done, I get asked if the CUSIP number belongs to the security on Quicken.

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    Quicken doesn't use the downloaded security name to determine if this is the same security or not.

    Here are a couple typical entries in a QFX file:

    image.png

    In the first case there isn't a symbol, so they used the CUSIP as for the symbol (and as @QuickUserPSP pointed out the security symbol is used for getting the prices, not for identifying the security. And in the case of one above that doesn't have a public security symbol the prices can only come from the downloaded transactions).

    Note that when a new security is found Quicken will put in all this information:

    image.png

    But it is CUSIP that determines "uniqueness".

    Here I changed one of the transaction's date/unique Id (FITID) and the description in the security list:

    image.png

    And imported that:

    image.png

    As you can see it totally ignored the fact that I removed the D that the start of the security name.

    And maybe I should show that transaction entry:

    image.png

    What you should notice here is that the transactions themselves only have the UNIQUEID/UNIQUEIDTYPE to identify the security.

    What will happen if I change the symbol in the security list?

    image.png
    image.png

    No prompting by Quicken for a "new security".

    image.png

    The only thing that should trigger Quicken thinking this is a new security is the changing of the CUSIP.

    So, I will change it and see what happens.

    image.png

    No prompting (I think that is because I'm having it put the transactions directly into the register, but look what just happened):

    image.png
    image.png

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  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta

    @Chris_QPW - take a look at the last 5 entries in this thread. This example would indicate that Security Name also somehow plays some part in security identification and matching. Your example is logical and makes perfect sense, but in this other case, the solution was to change the security name. The whole security matching mechanism seems to be very complex.

    https://community.quicken.com/discussion/7950407/incorrect-cusip-field

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    I saw the entries, and I can’t explain what’s going on, but you can see how it is supposed to work. I suppose one wildcard in this is that is how QFX files work which implies how direct connect works, but who knows what’s happening with Express web connect +. Not to mention there could always be bugs.

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  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭
    edited May 8

    in another way of putting it, this should really be a problem report, not a feature request.

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  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    CUSIP stands for Committee on Uniform Securities Identification Procedures

    A CUSIP number identifies most financial instruments, including: stocks of all registered U.S. and Canadian companies, commercial paper, and U.S. government and municipal bonds.

    Quicken calls this the CUSIP ID and uses it to match downloaded transactions to securities in your data file. That way the names in the downloads can be differentcan but the Securities will still match

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