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The financial services industry faces an increasingly challenging sanctions compliance and enforcement landscape; , challenges that have grown considerably more complex since Russia’s invasion of Ukraine, just over a year ago.
To expand the market for its Global Sanctions Monitoring (GSM) service, the UK-headquartered data provider, BigTXN has appointed Exchange Data International (EDI) as an authorised reseller.
The GSM service from BigTXN identifies explicitly -stated sanctions, but also implicitly -sanctioned entities and their linked financial instruments.
Haider Mannan, Founder and CEO of BigTXN comments: “Having built a world-class sanctioned securities monitoring service, we are excited to be widening our distribution capability in partnership with EDI, a world-class market data provider.”
EDI is a leading provider of global security corporate actions, pricing and reference data, and a serial winner of the ‘Best Corporate Actions Data Provider’ award in recognition of its corporate actions data and expertise.
Jonathan Bloch, CEO of EDI, added: “Together, the G7 have imposed the most forceful and far-reaching sanctions we have ever seen and the complexity in identifying sanctioned securities is riddled with complexity. EDI is excited to be taking BigTXN’s sanctions data solution to market to help firms solve this difficult problem.”
Investment firms use BigTXN’s service to comply with pre- and post-trade sanctions requirements, screen their investment universe and keep their investment and trade restriction lists up-to-date.
With a proprietary algorithm and advanced machine learning, GSM from BigTXN brings together a vast amount of regulatory and securities data. In addition, the service runs on BigTXN’s high-performance cloud-based Enterprise Data Management platform, to precisely identify entities and instruments required by market participants to avoid penalties for compliance breaches.
