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A-Team Insight Blogs

New AvoxData Legal Entity Portal to Host Value-Added Data Sets

Avox’s new enhanced legal entity data portal, released last week at www.avoxdata.com, will provide the preferred delivery system for Avox as it integrates value-added data sets to its core identifier offerings. The new capability – not to be confused with parent DTCC’s planned legal entity identifier utility scheduled for imminent release – gives clients secure access to Avox and their own data sets in a sophisticated graphical environment or via API enabling integration with their own internal systems.

According to Ken Price, CEO of Avox, the new platform is the natural successor to the company’s earlier WikiData offering. He says, though, that the new system was built from scratch using a third-party developer, allowing it to add sophisticated search capabilities used by leading-edge research sites.

The new platform, he says, allows clients to access data sets previously available only via file transfer in a much more user-friendly environment, enabling them for example to link Avox identifiers (AVID) with their own identifiers and other, ISO 17422-based identifiers like the CFTC Interim Compliant Identifier (CICI).

Price is keen to stress that Avox will subscribe to these data sets as and when they come available, just like any other commercial supplier. DTCC and its partner in the venture, Swift, are expected to announce the release of the main CICI/LEI utility next week. Data from that database will be available for redistribution by commercial suppliers like Bloomberg, Thomson Reuters, Interactive Data and Markit. As an independent subsidiary of DTCC Avox will have access to this data on the same commercial terms as its industry peers.

Like WikiData, the new site enables free, unrestricted access to core data fields and standard industry identifiers for a global set of legal entities that are of interest to financial institutions throughout the world. Registered clients are then able to subscribe to more detailed content and services.

AvoxData offers a number of value-added capabilities, starting with free dynamic entity search and aggregation available to anyone who wants to use the database. Publicly available data attributes include legal name, primary place of business, country of incorporation, trading status, entity type, AVID and, where available, the CICI based on the ISO 17442 standard.

Included in AvoxData’s entity coverage are OTC derivative market participants, a feature that supports OTC transaction reporting requirements. The content is updated daily, reflecting changes identified by Avox’s global user base and data partners.  All changes made to AvoxData content are independently verified by the firm’s data analyst team.

Registered clients have immediate access to more in-depth content on any entity of interest.  They are able to request a more comprehensive due diligence service by Avox, which includes the provision of source documentation to support client on-boarding. Additional attributes available to registered clients include hierarchical information, industry classifications, regulatory information, issuer details (where applicable) and further identification codes.

Registered clients of AvoxData are permitted to share the content throughout their organisation without additional cost. This facilitates a consistent view of entity information within the firm, driving down both cost and risk, and allowing everyone from executives to junior data analysts to work from the same accurate and timely data. All AvoxData content is accessible on-line and downloadable, in either CSV (comma delimited) files or via an application programming interface (API) that enables direct integration with the clients’ existing systems and databases. 

AvoxData includes a self-registration capability whereby clients can direct other entities based in non-transparent jurisdictions to enter their own details and supporting documentation to assist with Know Your Customer (KYC) reporting obligations.

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