Intercontinental Exchange (ICE) has launched a sanctions monitoring service to help financial institutions comply with the increasingly complex landscape of global sanctions. The new service leverages ICE’s extensive data offering, cross-referencing and linkage capabilities to identify securities, entities and groups targeted by sanctions programmes.
ICE’s sanctions data covers financial and economic restrictive measures against entities sanctioned by the EU’s Common Foreign and Security Policy (CFSP), the US’s Office of Foreign Assets Control (OFAC), the United Nations Security Council (UNSC) and other sanctioning authorities.
ICE’s sanctions data set delivers key information to clients to respond quickly to international events leading to restrictive measures. It provides the linkages between entities within a group and the securities issued by those entities, which can help facilitate increased automation of compliance program processes.
The service provides seamless linkage to other data sets on top of the core sanction information, leveraging a common data model and market standard identifiers. Beyond highlighting exposure to security issuing entities, the service also maps to targeted entities serving as the guarantor or obligor of an instrument.
According to Mark Heckert, Chief Product Officer at ICE Fixed Income and Data Services, “By leveraging our extensive coverage of securities, we’re able to provide an easy-to-use solution to help customers achieve compliance with existing programs and avoid fines or negative exposures to restricted entities.”
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