19 January 2017
visit http://www.wolterskluwerfs.com

DTCC and banks form client data and documentation utility

29 July 2014  |  6469 views  |  0 DTCC logo web screen shots

The Depository Trust & Clearing Corporation (DTCC) has teamed up with six Wall Street banks to launch Clarient Entity Hub, a client data and documentation utility.

The hub will provide centralised services for all client data and documents needed for internal onboarding and help firms meet broader regulatory requirements including KYC, Fatca, Emir and Dodd-Frank.

A new company - Clarient Global - will run the utility on behalf of its owners: the DTCC, BNY Mellon, Barclays, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street.

With the service, investment managers, hedge funds, and corporates can centrally upload, validate, permission, distribute, and securely store entity level information, documentation and hierarchy data.

By standardising, centralising and automating the collection and validation of client data and documentation, Clarient will bring users increased efficiency and enhanced control over their data and its communication, while mitigating operational risk and reducing cost, claims the DTCC.

The hub takes advantage of the DTCC's client reference data services, including Avox and Omgeo Alert. It is also fully integrated with the DTCC Client Reference Data and Enrichment service, a portal to collect counterparty information required for delegated derivative trade reporting in support of Emir reporting requirements.

Michael Bodson, president and CEO, DTCC, says: "As the only user owned and governed client data and documentation utility in the world, we'll work to ensure that the Clarient Entity Hub fully meets the evolving needs of the entire industry, today and in the years to come."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Swift signs more banks to KYC Registry

Swift signs more banks to KYC Registry

22 July 2014  |  9561 views  |  0 comments | 5 tweets | 10 linkedin
KYC Exchange builds banking momentum

KYC Exchange builds banking momentum

20 June 2014  |  11686 views  |  2 comments | 8 tweets | 3 linkedin
Markit and Genpact launch KYC service

Markit and Genpact launch KYC service

22 May 2014  |  10974 views  |  2 comments | 5 tweets | 2 linkedin
DTCC throws weight behind US move to T+2

DTCC throws weight behind US move to T+2

23 April 2014  |  5708 views  |  0 comments | 4 tweets | 4 linkedin
Thomson Reuters joins KYC utility race

Thomson Reuters joins KYC utility race

19 March 2014  |  11661 views  |  2 comments | 9 tweets | 10 linkedin
Swift signs major banks to KYC Registry

Swift signs major banks to KYC Registry

04 March 2014  |  9804 views  |  2 comments | 11 tweets | 12 linkedin
DTCC partners banks on global utility for client reference data

DTCC partners banks on global utility for client reference data

30 September 2013  |  12558 views  |  0 comments | 6 tweets | 2 linkedin
DTCC buys Thomson Reuters out of Omgeo

DTCC buys Thomson Reuters out of Omgeo

24 July 2013  |  8432 views  |  0 comments | 4 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.com visit wavestone.co.uk

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
14958 views comments | 85 tweets | 105 linkedin
Blockchain impact timeline speeds up, massive cost savings forecastBlockchain impact timeline speeds up, mass...
13543 views comments | 39 tweets | 36 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
12074 views comments | 47 tweets | 40 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
10323 views comments | 30 tweets | 20 linkedin
hands typing furiouslyBlockchain: Time To Get Your Feet Wet
7196 views 0 | 23 tweets | 9 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job