New York, June 1, 2011 – Avox Limited, a subsidiary of The Depository Trust & Clearing
Corporation (DTCC), has been awarded “Best Counterparty Data Provider” by the readers of
Inside Reference Data for the third year in a row.
The awards, which were held in New York City, recognize industry excellence within the market
data, reference data and enterprise data management sectors. Nominees are selected by the
editorial staff of Inside Market Data and Inside Reference Data, with the winners chosen by the
readers of the two publications in 22 categories. Readers consist of operations professionals at
investment banks, securities firms, institutional investors, brokers and exchanges. Nominated in
the category with Avox were: Bloomberg, Interactive Data, SIX Telekurs, Standard & Poors, and
Thomson Reuters.
“Readers of Inside Reference Data and Inside Market Data voted for Avox as Best Counterparty
Data Provider, reflecting the vendor's strong position in the market. Avox has now won this
award three consecutive years,” said Tine Thoresen, editor of Inside Reference Data. “The Inside
Market Data and Inside Reference Data awards recognize industry excellence in the financial
information market.”
Avox, as it has since beginning its operations, employs a collaborative model that has client firms
contributing intelligence relating to changes they see impacting business entity data. These
changes are sent to Avox daily and are verified by Avox’s team of data experts. Most of the
changes made to the records in the Avox database of counterparties are originally triggered by
clients who contribute information on the change. According to Ken Price, CEO of Avox, this
makes the information the most up-to-date source of global company information possible.
“Winning this award again validates that our unique collaborative model for maintaining business
entity data works better than any other method,” said Price.
DTCC purchased Avox in 2010 and has been integrating its services internally while marketing it
to its client community around the world. A key driver for the purchase was the need for
regulators around the world to have a single legal entity identifier for the counterparties and
database of core and parental data around each entity when collecting transaction and position.
DTCC and Avox hope to make compliance with emerging regulatory requirements
in this area more cost effective for the broader global industry. In furtherance of that goal,
DTCC/Avox and SWIFT have been collaborating to develop solutions for consideration by the
global industry.
“We hope to expand Avox’s role to help the industry meet the reference data needs of regulators
looking to understand and react to systemic risks that might threaten the global financial system
in the future,” said Ron Jordan, DTCC’s chief data officer. “Being recognized as having the best
counterparty data in the world helps by demonstrating how that can be leveraged for this
emerging broader purpose.”
About Avox
Avox, a subsidiary of DTCC, validates, corrects, enriches and maintains business entity reference
data. This includes data such as corporate hierarchies, registered address information, industry
sector codes and company identifiers. The company was founded in 2003 in cooperation with
several financial institutions that required a more efficient mechanism for improving data quality
and timeliness. The Avox operational model is unique in the industry. Its success stems from the
continuous sharing of business intelligence with its clients and partners which Avox centralizes,
anonymizes, verifies and publishes out to each participant. Financial institutions participating in
Avox form a community that collectively addresses poor client, issuer and counterparty data
quality. The community participants, which include some of the largest banks and asset managers
in the world, both contribute and subscribe to a shared pool of data, processes and resources.
About DTCC
DTCC, through its subsidiaries, provides clearance, settlement and information services for
equities, corporate and municipal bonds, government and mortgage-backed securities, money
market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of
mutual funds and insurance transactions, linking funds and carriers with their distribution
networks. DTCC's depository provides custody and asset servicing for more than 3.6 million
securities issues from the United States and 121 other countries and territories, valued at US$36.5
trillion. In 2010, DTCC settled nearly US$1.66 quadrillion in securities transactions. DTCC has
operating facilities and data centers in multiple locations in the United States and overseas. For
more information, please visit www.dtcc.com.