Following a process of evaluation, Dealogic selected CounterpartyLink for its ability to provide the firm with accurate and auditable legal entity data on many thousands of its global investor records. The data is being used by Dealogic to ensure that both it and its clients have, and maintain, a single and unique view of each legal entity that is being processed between the parties.
In particular, during an equity syndication, the various bookrunners and managers involved might refer to an institutional investor in any number of ways, with the potential that duplications and errors may be introduced into the process. As part of Dealogic's drive to help its clients improve their accuracy and efficiency, it is reducing the potential for such identification anomalies by using the registered legal entity name as the basis for its master investor database records. These names, and other reference data fields, are provided and maintained by CounterpartyLink on a continuous basis.
As a leading specialist supplier of global legal entity data, CounterpartyLink currently provides over 100 different data fields of validated data for each legal entity, covering name and address details, corporate hierarchy, registration and regulator details and a variety of other standard identifiers, including SWIFT BIC codes, and also CounterpartyLink's own proprietary identifier. Entities from over 190 jurisdictions are covered. Uniquely, every field in a CounterpartyLink data record is linked back to an electronically stored original public filing or web page, providing a complete audit trail back to the source for each value displayed. CounterpartyLink's data is updated on a daily basis for changes that result from corporate actions and other notifications.
"We have a constant requirement to de-duplicate, validate and ensure that only a single up-to-date legal name is assigned to any one entity. In this way we can help our customers ensure that there is no dupl duplication or inacc is no dupl duplication or inaccuracy in their order books, and indeed we can act as a check point for the entity enquiries coming from our clients," said Howie San, Dealogic Solutions' Director of Equity Products.
"We chose CounterpartyLink not only because they have demonstrated their accurate, validated data content and have the coverage required, but also because of their flexibility and willingness to work with us to satisfy our sometimes unusual requirements".
James Redfern, Head of Sales and Marketing CounterpartyLink, said, "We are delighted to have been selected by Dealogic and have already demonstrated, in the work we have done with them to date, the benefits of using CounterpartyLink to help not only in meeting their immediate data management requirements, but importantly in providing the basis of a continuously validated entity database. This will benefit their ongoing proactive approach in maintaining legal entity data for compliance and business purposes. We look forward to continuing to help them as part of their data management strategy for some time to come".