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: MiFID II – Practical Considerations for Gainful Compliance

The EU’s Markets in Financial Instruments Directive (MiFID) II is set to be top of the trading technology agenda for 2016. It’s impact will be more granular, prescriptive and onerous than the original MiFID regulation, raising business and technology challenges for those financial institutions affected, which need to be resolved within a tight deadline. Listen...

BLOG

From Batch to Real-Time: LSEG Reinvents AML Screening with World-Check On Demand

As financial institutions accelerate toward real-time payments and digital onboarding, compliance teams face mounting pressure to keep customer screening instant, accurate and demonstrable. In response, the London Stock Exchange Group (LSEG) has introduced World-Check On Demand – a new cloud-based service designed to deliver “real-time risk intelligence” through API integration, allowing institutions to embed sanctions...

EVENT

AI in Data Management Summit New York City

Following the success of the 15th Data Management Summit NYC, A-Team Group are excited to announce our new event: AI in Data Management Summit NYC!

GUIDE

Enterprise Data Management, 2010 Edition

The global regulatory community has become increasingly aware of the data management challenge within financial institutions, as it struggles with its own challenge of better tracking systemic risk across financial markets. The US regulator in particular is seemingly keen to kick off a standardisation process and also wants the regulatory community to begin collecting additional...