Press Releases

Jun 07, 2012 • Press Releases

Avox Wins Best Counterparty Data Award for Fourth Year from Inside Reference Data

London, 7 June 2012 – 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 fourth 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, S&P’s Capital IQ, and Thomson Reuters.

“With risk analytics professionals reacting to new regulation and the proposed legal entity identifier standards, counterparty data is getting seen as more important than ever to managing risk,” said Michael Shashoua, editor of Inside Reference Data. “Inside Reference Data’s readers selected Avox as ‘Best Counterparty Data Provider,’ in recognition of the DTCC unit’s work in this crucial area of data for the markets.”

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 for the fourth consecutive year continues to validate 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.

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

Through multiple operating facilities and data centres around the world, DTCC and its subsidiary companies automate, centralise, and standardise the processing of financial transactions for thousands of institutions worldwide. With almost 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC processed securities transactions valued at approximately US$1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US$39.5 trillion. DTCC’s global OTC derivatives trade repositories record more than US$500 trillion in gross notional value of transactions made worldwide across multiple asset classes. For more information, visit www.dtcc.com.

Contacts

Steve Letzler

Email

sletzler@dtcc.com

Phone

(212) 855-5469

dtccdotcom