Multi-asset class data, research and analytics provider, S&P Capital IQ, has launched of a new tool designed with the aim of improving users’ ability to identify systemic and counter-party risk while reducing operating costs.
The new Business Entity Cross Reference Service aims to provide immediate cross-reference capabilities for over 2 million public and private entities using standardised and proprietary identifiers, including all available Legal Entity Identifier (LEI) codes.
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Global financial markets have been buffeted by an ongoing stream of turbulent events over the past several years, raising awareness of the interconnectedness between companies, industries and economies, and often requiring greater understanding about potential risk and business exposure.
S&P Capital IQ’s Business Entity Cross Reference Service has been designed to enable clients to recognise the linkages of business relationships, thereby improving operational efficiencies, reducing overhead costs and strengthening client on-boarding and risk management functions.
"We have developed this cross-reference tool to aid market participants with their mandates to satisfy greater regulatory requirements, solve for lack of standardisation, and remove the burdensome task of processing and tracking legal entity structures," said Rui Carvalho, managing director, S&P Capital IQ.
"Firms that manage different sources of information need to understand and maintain, on a daily basis, the linkages between instruments, entities, issuers, securities and sector classifications for better geographical and counterparty exposure reporting" said Roger Fahy, vice president, S&P Capital IQ.
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By GlobalDataBusiness Entity Cross Reference Service is available through S&P Capital IQ’s Xpressfeed delivery platform.
