About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Avox Passes One Million Entity Milestone with Plans for Further Growth and Additional Services

Subscribe to our newsletter

Avox has posed a 25% year-on-year gain in the number of entities it has validated, bringing its total database of entities with validated reference data to over a million. The million-entity milestone comes against the backdrop of the imminent launch of the global legal entity identifier (LEI) standard, which was the subject of last week’s Reference Data Review webinar on how to benefit from the emerging standard.

As well as operating its own entity database, Avox supports the CICI Utility database of so-called pre-LEIs by virtue of its parent, DTCC, which runs the utility in partnership with Swift.

Avox attributes the 25% gain and one million entities milestone to financial firms’ increasing need for accurate and validated entity reference data to meet regulatory requirements and transaction and risk reporting obligations.

Mark Davies, general manager and head of Avox, says: “The growth in the number of entities with validated reference data in the Avox database follows, in part, the regulatory agenda, particularly the reporting requirements of Dodd-Frank and EMIR. There are also requirements around the Foreign Account Tax Compliance Act that spotlight the need for validated entity reference data.”

He continues: “We are working with firms to ensure they have the right company data to meet the requirements of these regulations. Going forward, we expect greater growth in the number of entities we validate and will expand the database, while maintaining the quality standards that our clients have come to expect.”

Replicating a Regulatory Reporting File subscription service introduced last year that adds Avox-sourced legal entity, hierarchy, regulatory and address information to Commodity Futures Trading Commission interim counterparty identifiers, or CICIs, mandated by Dodd Frank for reporting OTC derivatives transactions, Avox will soon make available a similar Regulatory Reporting File to support clients that must meet EMIR reporting requirements. The European Securities and Markets Authority recently set September 23 as the start date for EMIR reporting.

In terms of CICIs and ahead of the introduction and build out of the global legal entity identifier (LEI) system, Davies says Avox is working with clients to match CICI codes to their own internal client data records and is helping them source additional fields required by international regulators. The CICI utility, served by Avox, has issued more than 50,000 CICIs to date. Avox continues to map these pre-LEIs back to Avox legal entity AVIDs.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Hearing from the Experts: AI Governance Best Practices

9 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical...

BLOG

Unlocking $100 Trillion: Chainlink’s New Framework for On-chain Institutional Finance

Chainlink, the decentralized blockchain network designed to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts, has introduced its Automated Compliance Engine (ACE). ACE is a modular framework aimed at addressing compliance challenges in onchain finance and facilitating institutional participation in blockchain markets. Built atop the Chainlink Runtime Environment, ACE is...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...