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A-Team Insight Blogs

Thomson Reuters Grows Legal Entity Data Solution to Address Risk Management and Regulatory Compliance

Thomson Reuters today announced the launch of an expanded legal entity data solution, which will be available for retrieval via Thomson Reuters DataScope Select and Thomson Reuters DataScope Onsite.  This offering significantly expands the firm’s legal entity content capability, which is approaching coverage of 1 million entities across nearly 250 markets and 50 languages. Thomson Reuters DataScope Legal Entity Data gives customers access to high-quality, fully linked data that can be integrated into their workflow and help mitigate risk exposure, reduce regulatory burdens and cost-effectively manage their content requirements.

Today’s dynamic market conditions and emerging regulatory mandates have placed a renewed emphasis on understanding the complex corporate structure of legal entities. Efforts currently underway to establish and implement a global legal entity identifier (LEI) system have drawn further attention to the market need for a unified mapping system that can help assess the credit, concentration, liquidity and contagion risk that can stem from those connections. Regulations around OTC derivatives trading and settlement will benefit from organized legal entity data across OTC positions delivered on a more real-time basis compared with today’s practices.

DataScope Legal Entity Data helps firms manage entity data while absolving them from the complicated, resource-intensive, error-prone challenges that arise from having to source, verify, map and maintain legal entity data in-house. The offering also supports comprehensive regulatory reporting requirements, including exposure calculations and capital adequacy based on an understanding of exposures in particular markets and against other firms.

Tim Lind, global head of strategy and business development, Enterprise Content, Thomson Reuters, said: “We are committed to delivering highly valuable content and innovative technology solutions to support automation, regulation and efficiency in the capital markets. DataScope Legal Entity Data allows firms to mitigate risk exposure by providing a single source for timely, high-quality entity data that represents relevant counterparties, offers extensive depth and breadth of content, and provides complete cross-asset class integration to enable a much deeper view of risk and compliance.”

The DataScope Select interface allows for customized extraction and reporting to facilitate ad-hoc and scheduled inquiries into particular entities, and the solution offers audit-level transparency and quality, bolstering clients’ confidence in regulatory reporting on exposures and positions.

Thomson Reuters will continue to invest in product functionality and expanded legal entity coverage, linking its core entity records to all Thomson Reuters data sets to enhance the type of credit assessments risk managers demand. This includes fundamental data, news sentiment, corporate actions, sanctions and enforcements, issuer ratings, pricing, terms and conditions data.

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