Why is it so hard to know who you’re doing business with?

Steve Goldstein is

Every bank wants to achieve a single view of a customer, but no-one has found an easy, cost-effective, scalable way to do it. The simple fact is that there is too much customer information, entering the bank from too many places, to align and maintain into a single view. An effective solution would reduce costs, allow the bank to generate revenue faster, facilitate KYC processes and meet regulatory requirements.

CounterpartyLink adds hierarchy profiles to legal identity service

Citigroup hierarchy sample

CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.

Regulations raise new questions about industry standards


Financial market regulations across the globe are increasingly focusing on risk management. This includes ensuring it is clear who firms are trading with and for, and confirming that firms can identify the instruments being traded. As a result, the field of reference data is increasingly held under the regulatory microscope and that lens extends to the standards used to identify financial instruments, writes Chris Pickles.

What do banks need to know about their customers, but don’t?

Interview Steve Goldstein

Banks know many things about their customers: they have to – for regulatory reasons, to assess risk and to cross-sell products. But there are things that banks don’t know about their customers, and ought to …

Breaking down BCBS 239

Neill Vanling is managing director, global sales and client operations at GoldenSource

January’s Basel Committee on Banking Supervision report on banks’ progress towards BCBS 239 compliance threw up a telling contradiction. While global systemically important banks “are increasingly aware of the importance” of the BCBS 239 project, their sense of preparedness has decreased. In 2013, 10 of the 31 eligible banks reported they would be unable to comply fully by the 2016 deadline. This year, that number rose to 14. It is understandable that there is more work to be done, but how is it that the G-SIBs are moving backwards?

Avox offers API connections to legal entity data


Avox, the DTCC’s legal entity reference data subsidiary, has launched a series of web-based application programming interfaces designed to support faster access to data, including legal entity identifiers, legal names, addresses, industry classifications and corporate hierarchies.

Bringing it all together

Interview Steve Goldstein

From the early days of internet distribution, New York-based Alacra has been aggregating reference data. Chief executive Steve Goldstein told David Bannister the company’s story

Uniting entity data – the missed opportunity

Neill Vanlint

In a post-2008 crisis landscape dominated by regulatory reform, compliance is only part of the issue. If firms can address how they manage multiple data sets and deploy a truly enterprise-wide model, they can capitalise on the real opportunity – achieving a competitive advantage.

Trade reporting uncertainty raises “multiple problems”

Jude: some clients are finding it hard to understand the new trade reporting rules

Nearly three months after the European Commission’s 12 February deadline for trade reporting, market participants are still not ready to report their derivative trades and serious problems remain with understanding the rules.

LEI update: hidden costs prevent enthusiastic take-up


Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.