SIX to Incorporate Avox-Sourced Pre-LEIs

SIX Financial Information is working with legal entity data provider Avox to support of clients’ compliance, risk and operational requirements.

Avox, a subsidiary of the Depository Trust & Clearing Corporation (DTCC), will source pre-legal entity identifiers (LEI) from the issuing Local Operating Units and consolidate and map them to SIX’s global securities database.

SIX is cross-referencing the pre-LEI to its security and entity reference data, thus clients can achieve the transparency and consistency required for compliance and management of reference data across their enterprise. This will also help SIX clients meet their reporting obligations under several regulations such as EMIR, Dodd-Frank (for OTC Derivatives) and Solvency II.

Avox, a specialist in legal entity data, will source pre-LEIs from all local operating units, the organizations responsible for creating pre-LEIs, and will provide a consolidated file with the identifiers to SIX. Entities will be matched to an Avox ID (AVID), a unique identifier that facilitates fast and reliable identification of all parties involved in any transaction.

“SIX is fully supportive of the of the Global LEI system (GLEIS) initiative and this strategic partnership enables us to deliver greater efficiencies to clients while adhering to our high data standards,” said Darren Marsh, Senior Product Manager at SIX Financial Information. “Working with a proficient entity data provider such as Avox corresponds precisely to what clients want – accurate and timely LEI matching within broader services to support critical business operations.”