Reuters is launching Reuters DataScope for Counterparty and Compliance to provide financial institutions with access to the counterparty and trading entity data they need for the verification of trading partners.
Increased regulation means financial institutions must be able to identify the origins of each transaction and trading counterparty, and recognise issues such as their total exposure to other institutions. Reuters DataScope for Counterparty and Compliance is a one-stop-shop for this information.
Delivered via the existing Reuters DataScope Select platform, the new product will also offer faster customer sign-up, more transparent internal reporting, and an improved ability to calculate investment exposures. It also provides data which users can audit at the source, including sanctions and enforcement list information and the ability for users to make requests for additional coverage.
Head of regulatory compliance data at Reuters enterprise solutions, Jonathan Hodgson, says,"The combination of increasing regulation and significant growth in the derivatives markets means the need for financial institutions to understand the origins of a trade and the people with whom they are doing it has never been greater. Reuters DataScope for Counterparty and Compliance Data will enable our clients to manage exposure and minimise operational and reputational risks, whilst reducing the regulatory burden."