Avox Limited, a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC) and the industry leader in legal entity reference data, today announced that it has been awarded International Standard Organisation (ISO) 27001 Certification from the British Standards Institution (BSI).
Achieving the ISO 27001 standard certifies that Avox has the requisite information security controls in place to protect client data. The certification is awarded only to those companies that can meet the standard as judged by an independent, accredited team of auditors.
Avox sources and manages legal entity data for financial institutions across 255 jurisdictions and has validated reference data associated with more than 1.8 million entities. This number continues to rise as an increasing number of market participants rely on the firm to facilitate compliance with entity data management best practice, risk management and reporting regulations, including EMIR, Dodd-Frank, FATCA and other mandates around the world.
Due to the expanding scope and volume of regulations, the way firms consume data and engage with their data providers is evolving, with new requirements for enhanced levels of flexibility and efficiency in their data management processes. Avox offers the secure provision of data coupled with robust audit controls, ensuring that the data businesses rely on for their risk management and regulatory reporting is of the highest quality.
Mark Davies, General Manager of Avox, said: “We recognize that the ability to prevent security breaches and protect data from being compromised is of utmost importance to our clients. As more firms look externally to companies like Avox to provide managed data services, we continue to thoroughly identify and address data security risks to meet our clients’ information security needs on an ongoing basis.”