Exchange Data International has entered an agreement to become the exclusive partner for GlobeTax’s withholding tax data and services for use within EDI’s data services. The new service will be available online as part of EDI’s e-Data Suite of products and will “offer a searchable matrix of over 43 million data points of withholding and treaty rate inform-ation, including every permutation type of income, beneficial owner status, residency and year of distribu-tion,” says Jonathan Bloch, EDI’s managing director. It will be targeted at researchers, brokers and custodians needing accurate withholding tax information on real and expected investment income for use within portfolio planning. It then enables clients to use GlobeTax on their behalf to actively recover the tax. GlobeTax processes over 80% of all global tax reclaims on American Depository Receipts on behalf of four out of five of the ADR sponsoring banks for whom it acts as back office provider.
A-Team Insight Blogs
EDI Deal with GlobeTax Adds Withholding Tax Data
The financial services industry is starting to harness the potential of Big Data analytics to gain insights that can yield competitive advantage. At the same time, market surveillance has emerged as a major requirement for trading firms across the board as regulations like MiFID II and Market Abuse Regulation (MAR) push both buy- and sell-side...
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