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by Lilia Tira

Avox has been named “Best Counterparty Data Provider” by the readers of Inside Reference Data for the fifth year in a row. The awards, which were held in New York on May 21, 2013, recognize industry excellence within the market data, reference data and enterprise data management sectors.

“This accolade demonstrates the continued success of Avox’s collaborative model for counterparty data management,” said Mark Davies, General Manager and Head of Avox Limited. “In the past 12 months, the firm has announced a 25% year-on-year increase in the number of entities validated in its global database, reflecting financial institutions’ increased need for accurate and validated entity reference data.

Data quality

“As we look ahead to growing our shared data pool and improving data accuracy across the industry, it is encouraging to know that our clients and readers of Inside Reference Data support the work we have been doing. We anticipate another busy year for Avox as we help our clients manage increasing demands to improve data quality and governance from regulators, investors, clients and within their own firms,” Davies said.

Avox validates, corrects, enriches and maintains business entity reference data, including corporate hierarchies, registered address information, industry sector codes and company identifiers. The firm’s approach ensures that clients are dealing with the most accurate and timely data available, therefore facilitating efficient and compliant regulatory, transaction and risk reporting.

Avox is a wholly owned subsidiary of DTCC.@