SmartCo, a data management software company which specialises in the financial sector, and CounterpartyLink, a specialist information provider in the research, maintenance and distribution of global issuer, client and counterparty data for compliance and risk management purposes, have announced the integration of CounterpartyLink data into SmartCo DataHub.
CounterpartyLink’s legal entity data is used globally by buy and sell side firms to reduce the burden of collecting and maintaining core information, such as client and issuer ownership hierarchies, which is required to support daily account opening, KYC and counterparty risk processes. The focus of CounterpartyLink’s offering is to provide highly accurate information that is compatible with clients’ regulatory obligations. The data is continually maintained and linked to and sourced from company registration documents, regulatory and exchange filings, and any other primary sources of information that evidence the accuracy of CounterpartyLink’s information.
Smart DataHub is a complete data management solution focussed on the finance industry that enables centralised data management, data quality control, auditability, security, real-time data analysis and the management of multi-contributor functionality. The system’s broad coverage (reference data, market data, operations data) and scalability provide immediate operational gains and easy adaptability to any future requirements, thanks to its innovative technology providing extensive customisation functions: dynamic data modelling, business logic configuration, design of user interfaces and custom mapping.
Financial institutions need to continually maintain up to date issuer, client and counterparty reference data, and link these to other data sets, such as instruments, market announcements, corporate actions and pricing data. Such processes improve competitiveness, efficiency and compliance with regulations, and enable clients to rapidly respond to changes in markets and the entity concerned. The integration of CounterpartyLink content into SmartCo’s technology reduces a dependence on the client in managing the complementary services from these two vendors themselves.
“The growth of compliant client, counterparty and issuer reference data provided by an external supplier,” says James Redfern, head of sales and marketing at CounterpartyLink, “has meant that clients are increasingly looking to their existing and future information and application suppliers to do much of the integration work before it reaches them. We are delighted therefore to create a partnership with SmartCo which will aid the mapping and distribution of CounterpartyLink’s data at our mutual clients.”
“The speciality of CounterpartyLink’s data research and maintenance processes, combined with SmartCo DataHub’s powerful and scalable data management solution, will enable financial institutions to manage and cross reference legal entity data with other data sets with complete efficiency,” said Pascal Mougin, chairman of SmartCo. “This partnership will help financial institutions to improve the reliability and efficiency of their information processes.”
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