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The `!CUSIP-linked MIP code`! (`!CLIP`!) is used in the `F33f`_`[financial derivatives`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=Financial_derivative]`_`f markets to identify the reference entity of a `F33f`_`[credit default swap`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=Credit_default_swap]`_`f.`:cite-ref-1[`F5bf`_`[1`#cite-note-1]`_`f] It is mainly used as a key field in Markit's reference entity database (RED). Each CLIP is linked with one or more CUSIPs each representing reference entity obligations (`F33f`_`[securities`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=Security_(finance)]`_`f).

For example, CLIP of WESTLAB AG (reference entity) is 'DMFCCI'. There are multiple issues from WESTLAB AG each with different CUSIPs (D96637AG4, D96637AH2, D96637AK5 etc.).

MIP is a synonym of Markit Partners. CLIP is known with multiple names like Markit RED code, RED CLIP or simply CLIPS. S&P and Markit Partners introduced CLIP concept and entity CLIP codes are generated by the S&P CUSIP Bureau `:cite-ref-2[`F5bf`_`[2`#cite-note-2]`_`f] and are assigned to each entity name individually. CLIP codes are used for electronic matching on DTCC and have been integrated in various online platforms.

>>Contents

• `F0af`_`[See also`#see-also]`_`f

• `F0af`_`[Notes`#notes]`_`f

• `F0af`_`[External links`#external-links]`_`f

-─

>>See also

• `F33f`_`[CUSIP`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=CUSIP]`_`f

• `F33f`_`[Credit default swap`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=Credit_default_swap]`_`f

• `F33f`_`[S&P`:/page/wikibook/entry.mu`zim=wikipedia_en_all_nopic_2025-08.zim|entry_path=Standard_&_Poor's]`_`f

>>Notes

`:cite-note-1`!1.`! `F0af`_`[↑`#cite-ref-1]`_`f "Markit Partners". Archived from the original on 2009-04-02. Retrieved 2009-04-09.

`:cite-note-2`!2.`! `F0af`_`[↑`#cite-ref-2]`_`f CUSIP Bureau

>>External links

• Markit RED Index Codes

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