NEW YORK, April 27, 2005 â Capco Reference Data Services Inc. (CRDS), one of the leading providers of end-to-end reference data services to the top securities firms worldwide, including asset managers, broker/dealers, and banks, today announces a distributor alliance with CounterpartyLink B.V. (CPL) to provide financial services firms with high quality issuer/client/counterparty and hierarchy data.
CounterpartyLink is an industry leader in addressing key issues of issuer/client/counterparty data quality. CPL provides legal entity and counterparty data with the related hierarchy, classifications and other links that are critical for compliance, securities processing, risk management and customer management applications.
Through the distributor alliance, CRDS will provide clients with managed data services utilizing CounterpartyLinkâs high quality issuer/client/counterparty data. As a managed data services provider, CRDS offers outsourced business processes and technology to reference data clients around the globe. CRDS helps them in the creation of a golden issuer/client/counterparty copy and provides support in the ongoing management and adoption of the data throughout the firm. CRDS will act as a re-distributor of CounterpartyLink data as well as incorporate their data into future CRDS data solutions offerings.
"Financial services firms must react quickly to a spate of recent laws and pending regulatory initiatives including Basel II, the Sarbanes-Oxley Act, the Patriot Act, Know Your Customer and Anti-Money Laundering initiatives" said Predrag Dizdarevic, Executive Vice President of Capco, and President of CRDS. "We are aligning with CounterpartyLink due to its foresight in being the first to provide legal entity and counterparty data with the related parentage information in an offering that helps move the industry closer to solving the daunting regulatory compliance, risk management, and data management concerns expressed by CRDSâ customers."
"Financial services firms are coming to grips with the need to secure high quality data and apply the data internally to strategic advantage," said Christoph Lammersdorf, CounterpartyLink Managing Director. "We are pleased to partner with CRDS as they leverage their experience, global resources and customized solutions to help their clients confront this data challenge, focus less on non-core data processes and focus more on generating revenue."