Investors Guaranty Global Alliance buys CounterpartyLink

Source: Investors Guaranty Global Alliance

CounterpartyLink has been fully acquired and is now funded by the Investors Guaranty Global Alliance (IGGA), a company which invests in, operates and develops technology solutions, services and content in financial services, financial data and risk applications, specialised business technologies and media.

IGGA has its headquarters in Zurich, Switzerland with offices in Toronto, Canada, Bermuda and Auckland, New Zealand.

IGGA's strategy is to bring together all their company investments into a risk, performance and compliance oriented group offering products and services that are at the forefront of financial information technologies supporting the global financial services industry, exchanges and regulators. The group already has substantial specialisation in credit, valuation, performance measurement, counterparty risk, financial data integrity, real-time data distribution, simulation and modeling, and financial software systems.

Investors Guaranty Fund, which since 1985 has been at the forefront of financial guarantee and securitization, owns global patents on insurance securitization and various financial structures. The first segregated portfolio legislation, now common worldwide, was developed by IGF. IGF operates its proprietary risk transfer and loss mitigation technologies through three wholly owned Bermuda-based insurance subsidiaries.

IGF, through IGGA, invests in, operates and develops insurance, risk and capital markets infrastructure technology solutions, services and content.

CounterpartyLink, which was founded in February 2005, currently provides highly accurate and rigorously researched global legal entity and counterparty data to the financial services community. The information is primarily required by its banking and investment clients for Know Your Customer (KYC), credit risk management and other regulatory compliance purposes, such as those driven by Basel II and other international and national legislation. CounterpartyLink collects its data from centers located around the world, using primary sources such as registration documents. All data is collected and verified using rigorous quality assurance procedures and continually updated for its clients for corporate actions and other events affecting the data.

Following its acquisition, CounterpartyLink is now planning to extend its range of products and services to include detailed client data audits and customized data collection services. Furthermore, CounterpartyLink is now able to licence the unique legal entity data workflow processes and methodologies it uses to its clients. This workflow is based on the legal entity version of Cicada Corp's Composer platform, for which CounterpartyLink will now act as a distributor. This latest development enables clients to research and manage sensitive or high-risk client and counterparty records in-house, using CounterpartyLink's established processes and methodologies, without the need to divulge to a third party the identity of subjects that need to be validated. As is the case today, clients will at all times be able to supplement this internal research with data from CounterpartyLink on all other legal entities, as required.

Comments: (0)