London, July 20, 2015 – 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.”
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Avox, a wholly owned subsidiary of The Depository Trust & Clearing Corporation, DTCC, matches, enriches and maintains legal entity reference data for its clients, delivering corporate hierarchies, registered address information, industry sector codes and company identifiers. This approach ensures that clients can rely on the most accurate and timely data available to facilitate decision making and regulatory reporting.
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 centralises, anonymises, verifies and publishes out to each participant. Financial institutions participating in Avox form a community that collectively addresses client, issuer and counterparty data quality issues. 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. For more information, visit www.avox.info or follow us on Twitter @AvoxData.
With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. User owned and industry governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets. In 2014, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$64 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week.
To learn more, please visit www.dtcc.com or follow us on Twitter @The_DTCC.