Avox Launches Legal Entity Portal

Avox Limited, a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC), has launched an enhanced legal entity data portal at www.avoxdata.com .

The site enables free, unrestricted access to core data fields and standard industry identifiers for a global set of legal entities that are of interest to financial institutions throughout the world. Registered clients are able to subscribe to more detailed content and services.

AvoxData offers a number of capabilities, starting with free dynamic entity search and aggregation available to anyone who wants to use the database. Publicly available data attributes include legal name, primary place of business, country of incorporation, trading status, entity type, Avox ID (AVID) and, where available, the CFTC Interim Compliant Identifier based on the ISO 17442 standard. Included in AvoxData’s entity coverage are OTC derivative market participants, a feature that supports OTC transaction reporting requirements. The content is updated daily, reflecting changes identified by Avox’s global user base and data partners. All changes made to AvoxData content are independently verified by the firm’s expert data analyst team.

Registered clients have immediate access to more in-depth content on any entity of interest. They are able to request a more comprehensive due diligence service by Avox, which includes the provision of source documentation to support client onboarding. Additional attributes available to registered clients include hierarchical information, industry classifications, regulatory information, issuer details (where applicable) and further identification codes.

Registered clients of AvoxData are permitted to share the content throughout their organization without additional cost. This facilitates a consistent view of entity information within the firm, driving down both cost and risk, and allowing everyone from executives to junior data analysts to work from the same accurate and timely data. All AvoxData content is accessible on-line and downloadable, in either CSV (comma delimited) files or via an application programming interface (API) that enables direct integration with the clients’ existing systems and databases.

AvoxData includes a self-registration capability whereby clients can direct other entities based in non-transparent jurisdictions to enter their own details and supporting documentation to assist with “Know Your Customer” (KYC) reporting obligations.

“The enhanced AvoxData web portal empowers Avox clients with capabilities not previously available with our traditional due diligence services,” said Ken Price, CEO and co-founder of Avox. “Functions ranging from a free lookup service for basic entity data through to a more comprehensive due diligence service make this a compelling site for any firm faced with the growing number of entity-based regulatory reporting requirements.”

About Avox

Avox, a subsidiary of DTCC, validates, corrects, enriches and maintains business entity reference data. This includes data such as corporate hierarchies, registered address information, industry sector codes and company identifiers. The company was founded in 2003 in cooperation with several financial institutions that required a more efficient mechanism for improving data quality and timeliness. The Avox operational model is unique in the industry. Its success stems from the continuous sharing of business intelligence with its clients and partners which Avox centralizes, anonymizes, verifies and publishes out to each participant. Financial institutions participating in Avox form a community that collectively addresses poor client, issuer and counterparty data quality. The community participants, which include some of the largest banks and asset managers in the world, both contribute and subscribe to a shared pool of data, processes and resources.

This subscription service provides the core building block for entity verification and for constructing single counterparty views. This combined with the daily entity data updates allows firms to quickly adopt to regulatory entity data challenges, such as the OTC reform initiatives instigated by the CFTC as part of the Dodd-Frank Act.

For more information, visit www.avoxdata.com

About DTCC

Through multiple operating facilities and data centres around the world, DTCC and its subsidiary companies automate, centralise, and standardise the processing of financial transactions for thousands of institutions worldwide. With almost 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC processed securities transactions valued at approximately US$1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US$39.5 trillion. DTCC’s global OTC derivatives trade repositories record more than US$500 trillion in gross notional value of transactions made worldwide across multiple asset classes. For more information, visit www.dtcc.com .

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Contact:

For Avox Limited:
Steve Letzler, +1-212-855-5469
sletzler@dtcc.com