Securities reference data provider, Exchange Data International (EDI),
and legal entity data provider, CounterpartyLinkTM, have joined forces
to provide an integrated data service, designed to save financial
institutions time and money and help them comply with anti-money
laundering (AML) and know your customer (KYC) regulations.
Under the agreement, clients will be able to receive EDI’s corporate
actions and reference data linked to and supplemented by legal entity
data provided by CounterpartyLink.
“With this agreement, EDI’s corporate actions and reference data can now
be supplemented with linked access to a data source designed to lessen
the burden of collecting and maintaining legal entity data,” said
Jonathan Bloch, Managing Director of EDI. “We view this as a great
advantage and a significant new service that will help our clients in
their compliance and data management efforts.”
CounterpartyLink centres located in the US, China, Romania, Egypt and
India collect the data from public primary or secondary sources such as
company registry authorities, regulatory organisations and stock
exchanges.
Issuer and complex legal hierarchy data are monitored for
corporate actions and other changes that might have an impact on
investors’ portfolios. The names of the parents and subsidiaries, as
well as the ownership classification of the entities, are also included
in the data set.