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.”