The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

ADP, Avox Sign Up to Sponsor EDM Council

ADP Brokerage Services Group and Deutsche Boerse-owned Avox have signed up as sponsors of the EDM Council. They join BearingPoint, Cicada, GoldenSource, IBM and SunGard. This development comes as the EDM Council undertakes its transition to a member-owned, rather than a sponsor-owned, model (Reference Data Review, September 2006). Ken Price, CEO of Avox, says this change in operating model was a prerequisite for Avox signing up. “When the EDM Council was first established, we had some concerns that it might be perceived as simply a group of vendors trying to capture a market,” he says. “The fact that in 2007 it is being handed over to the financial institutions to run was the main criteria for our signing up. We wouldn’t want to be involved in any initiative that was proprietary because that goes against everything we do. The council has a good cross-section of financial institutions as members, and we are particularly interested in getting involved in the business metrics working group as this relates to our efforts on the data quality benchmarking side.” ADP’s commitment to the council comes as it steps up its pursuit of opportunities to deploy the securities master database it maintains as part of its Global Processing Solution with non-bureau clients (Reference Data Review, September 2006).

Related content

WEBINAR

Recorded Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions can enhance their client onboarding experience, streamline their internal operations, and open the door to new,...

BLOG

GLEIF Calls Global Industries to Join Development of Cryptographically Verifiable LEI

The Global Legal Entity Identifier Foundation (GLEIF) has set out grand plans to create a digitised LEI service based on a digitally verifiable credential containing the LEI – the vLEI – and able to provide automated identity verification between counterparties. The ambition is for all industry sectors globally, including financial services, to embed new and...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Corporate Actions 2009 Edition

Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...