3 January 2006 - New York- Cicada, a leading provider of reference data management software and services, has today announced an agreement to provide a legal entity data sourcing and management solution to CIBC World Markets.
The solution provided by Cicada includes client entity data records provided by CounterpartyLink, supplemented by additional and customized fields provided by Cicada to suit CIBC World Markets’ specific requirements. In addition, Cicada will source and provide corporate documents and regulatory filings to meet the documentation standards established by CIBC World Markets’ Legal and Compliance divisions.
CIBC World Markets has selected this customer data sourcing and maintenance solution to support its rigorous regulatory compliance and Anti-Money Laundering (AML) program efforts. Initially, the service will provide data for CIBC World Markets’ U.S. Equities group.
The CounterpartyLink source data is being included as part of the overall solution through Cicada’s redistribution agreement with the vendor.
"Cicada is excited about the opportunity to assist CIBC World Markets in this effort and work closely with the bank in such an important area," said Hubert Holmes, Cicada Executive VP. "CIBC World Markets’ set of requirements presents an ideal venue to bring together the advantages of our entity data management software, the experience of our top-notch team in providing data handling, and our redistributor agreement with CounterpartyLink. We look forward to serving CIBC World Markets in their customer data management efforts."
Cicada provides reference data management solutions, including a suite of purpose-built software that addresses specific business challenges, including customer data management for compliance. Cicada offers a range of deployment options including in-house and ASP models, as well as optional data handling services.