Dual listings & Datastream

Some companies have their shares listed at more than one exchange. There may be several reasons for this and one of them is: the company wants to attract investors from several markets. Oother reasons mey be tax-related or merger-related. Usually it is possible to find dual- or multi-listed companies using company ID’s that uniquely identify the company behind the listings. CUSIP codes, for instance, come in two versions:

  • CUSIP 6 identifies a specific company
  • Cusip 8/9 identifies a listing of an equity or other listed instrument (bond, or warrant, etc.).

Even knowing this, it is not so easy to do this type of research.

One of the databases that offers a nice option to get ID’s for separate listings, is Datastream. Not long ago, I got the question from a student who wanted some companies that were both listed at EuroNext Paris as well as at another exchange. Below you find the solution:

Step 1: Choose the Static search option to get the stocks listed at an exchange

Step 2: Use the orange Find Series button to get to the Datastream Navigator. When you have started this up, go to the top left corner and select the search option “Criteria Search“. A new screen pops up that allows you to do a multi-criteria search. Make sure that the Data Category at the top shows Equities. If not, change this to Equities. When you get to the screen with search options for equities, it may also be wise to use the option at the top right corner, called “Reset all criteria“. This removes any (in)visible search choices from a previous search, that may still be active and sets everything to the default options.

Step 3: For the Criteria search I chose:

  • Status: All active/inactive equities
  • Instrument Type: Equities
  • Exchange: EuroNext.Liffe Paris

I also chose to limit the search to equities for a certain time frame: the company had to be listed before January 1st, 2010.

Step 4: The search result screen shows approximately 2700 equities. I saved this list in one go by clicking the green Excel-type button at the top right corner. This option (currently) allows you to save up to 8000 equities from a list without having to individually select items/parts.

Step 5: Using the saved list I uploaded this with the Datastream add-in option: “Create list(From range)

Step 6: Using the saved list I did another Static Search using the Datastream Add-in. This time I selected the uploaded list using the “List picker” button (below the orange button Find series). The datatype that you need to use to get listings information is: QTEALL. The search result will include up to 20 additional listings (if applicable):

The columns with CD01 – CD20 list the Datastream codes for each additional listing: