Avox ensures its customers are working with the most up-to-date, accurate, complete and auditable business entity data possible. Whether the entity is an issuer, client, obligor, guarantor, counterparty or supplier, the cost and risk of having incorrect and/or incomplete data about them can be problematic at best and catastrophic at worst.
We achieve this premium level of data quality by engaging our global clients base, including top-tier investment and commercial banks, asset managers, clearing houses and insurance companies, which anonymously share business intelligence about such things as ownership structures, industry classifications, legal names, locations, regulatory status, identifiers and issued securities.
This information is always independently verified by the Avox team of highly trained research specialists. Crucially, Avox clients never lose control or ownership of their data. Avox simply makes their existing data better. The resulting absence of data redistribution restrictions drives significantly lower annual costs and the risk of inadvertent data license breaches.
Avox is a wholly-owned subsidiary of the Depository Trust & Clearing Corporation (DTCC), the world's largest provider of clearing and settlement services. In conjunction with DTCC, Avox has the scale, credibility and resources necessary to meet the demands of its international client base. Avox manages information about legal entities based in more than 200 jurisdictions around the world across every major industry classification.
Avox data service has a proven ability to ensure accurate, timely and complete business entity data. By driving consistent, correct and up-to-date content across the industry, Avox helps its customers to reduce credit, compliance, and operational risks as well as their costs.
High frequency accuracy - Changes to legal entity data are spotted by the market long before they are included in corporate actions feeds. Today, 70% of all such changes are triggered by the Avox Community. That means Avox clients are right much more often and more quickly, significantly reducing the credit and regulatory risks associated with out-of-date data.
Authenticity and transparency - All data values can be verified with field-level audit trails pointing to corroborative sources including documentation if required. All Avox clients operate in strict regulatory environments. Most have had their data operations audited by their regulators and all of those firms passed without fail.
Restriction-free data - Avox places no restrictions on the distribution of client entity data that it has validated, remediated and enriched beyond those imposed by the original sources. This eliminates licence fees associated with internal and external distribution, licence management software, governance, processes and legal risk.
Rapid value delivery - Validated data records are delivered in client-specific format minimising data integration time and cost. Avox clients begin receiving value within days of their first data submission.
Quantitative decision support- We provide hard benchmarks to clients enabling them to quantitatively measure their data quality against the Avox industry standard. This helps guide investment decisions and provides senior management with hard numbers with which to monitor progress.
Universal business entity identification - Avox allocates the Avox identification (AVID) and cross references it to the client's own specific identifications for all contributed entities. The AVID is also cross referenced to numerous identification schemes such as the SWIFT BIC, CICI, LEI, NFA ID, tax identifiers, and registration numbers ensuring that the new regulatory requirements are easily incorporated into clients' infrastructure.
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