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

Markit Document Exchange Partners with CTI for Tax Documentation

Subscribe to our newsletter

It has been a busy month for Markit’s documentation management platform. Following the signing of partnership agreement with Avox earlier in April, the vendor has now partnered with tax compliance software and consulting company, Compliance Technologies International (CTI). Under the agreement, the vendors are working together to integrate CTI’s electronic W-8 application for the US Internal Revenue Service (IRS) with Markit Document Exchange’ s counterparty document solution.

The IRS form is required for completion by non-US investors to establish their non US status, thus exempting them from being subject to US withholding taxes and reporting.

Penny Davenport, managing director and head of Markit Document Exchange, explains that the integration will allow financial institutions to store, review and exchange W-8 tax forms from a single platform. “By partnering with CTI, we are helping our clients cut the workload associated with exchanging and reviewing W-8 tax forms. This fits neatly with Markit Document Exchange’s goal to make collecting counterparty documentation more efficient,” she says.

Dan Burt, executive director and co-founder of CTI, adds: “Given the number of mutual clients we have and the complementary nature of our product offerings, the synergies created by our relationship will be very beneficial for the financial services industry.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Pre- & post-trade transparency: quote & trade reporting under MiFID II

MiFID II sets transparency requirements for pre- and post-trade disclosure of order details, along with transaction reporting that identifies reference and post-trade data. The directive’s related MiFIR regulation extends pre-transparency rules to apply to depository receipts, exchange-traded funds, certificates trading on a venue, bonds and structured products trading on a regulated market, and emission allowances...

BLOG

Complex Sanctions Environment Demands Powerful Screening Monitors: SIX Report

Sanctions screening technology has never been more important for financial institutions as new geopolitical and economic threats create the riskiest trading environment in recent history. That is the key finding of a new report, that highlights the need for greater resilience among organisations to the raised threat level faced by the global financial system. In...

EVENT

RegTech Summit London

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

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...