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Complinet helps financial markets check they deal with authorised firms and individuals

Complinet announce the launch of a new and truly unique database called the Authorised Database for Financial Markets (ADFM) made up of 70 of the 75 regulated sectors of banking, securities/capital markets and insurance across the 25 current EU Member States. The database details the authorisation status of organisations and, where the content is available, the registered status of individuals working within the financial markets. More than 1.5 million records are included and this number is growing quickly, making it one of the largest databases in Complinet’s client screening portfolio. The data is updated weekly and translated into a common and easily searchable format.

Official ‘authorised’ data is essential for counterparty checking all clients and trades and is a complementary to Complinet’s back office Compliance offering. Complinet developed this database in partnership with NASD to make use of the largest Customer Registration Depository (CRD) in the world that this regulator manages.

“This project is unique in what it is trying to achieve based on our relationship with the regulator, the key information that will be available in the database, its flexible format and accessibility. We are offering a one-stop shop for firms and banks to access global information on registered entities and individuals. No one else does this and it meets considerable demand currently for counterparty checking. Enhancements will involve media and sanctions queries against this core data that will connect exclusively to our other existing content sets.” said Rick Russell, head of Solutions Software.