S&P Capital IQ has launched a new tool designed to improve users’ ability to identify systemic and counterparty risk while reducing operating costs.
Its Business Entity Cross Reference Service provides immediate cross-reference capabilities for over two million public and private entities using standardised and proprietary identifiers, including all available Legal Entity Identifier (LEI) codes.
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 efficiently 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,” says Rui Carvalho, managing director, S&P Capital IQ. “The need for meaningful and broad transparency has created a host of new regulations mandating new and enhanced risk measurement criteria.”
“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,” says Roger Fahy, vice president, S&P Capital IQ. “This is what our solution provides.”
Business Entity Cross Reference Service is available through S&P Capital IQ’s Xpressfeed delivery platform. Xpressfeed provides buy-side and sell-side professionals a turnkey database with loading and maintenance technology for reliable, efficient data delivery and management. Xpressfeed delivers a data suite via FTP in conjunction with the Xpressfeed Loader, a tool that automatically downloads files from an FTP site and processes them into a relational data warehouse. Users have the flexibility to choose from a variety of content packages. These packages can be used alongside any dataset currently available in Xpressfeed.