Luxembourg
19 May 2016
Reporter: Stephanie Palmer

Clarient Entity Hub expands in Luxembourg


Schroders Investment Management in Luxembourg has adopted the Clarient Entity Hub utility-based service for simplifying client data and document management.

The solution is designed to reduce operational costs and risks involved the exchange of documents and data between hedge funds, corporations, broker-dealers and custodian banks.

According to Clarient, Schroders will use the solution to help with know-your-client (KYC) processes for intermediary and institutional investors.

With functionality to identify, collect and validate data required for meeting KYC requirements, the hub is intended to help firms establish and maintain client relationships, and the associated data and documentation, in one location.

"KYC has become more demanding over the past 10 years," said Noel Fessey, Schroders' global head of fund services. "Legislators and regulators demand higher standards of defence against money laundering, terrorist financing and tax evasion. Investors also demand better protection against operational and conduct-of-business risks in intermediary fund distribution networks.”

“The list of documents to be obtained from a prospective customer or counterparty is long, and ongoing review obligations means that they must be regularly checked and renewed if necessary. This is challenging for fund promoters, investors, intermediaries and counterparties, and repetitive for many of them.”

The Clarient Entity Hub now has more than 100 investment managers, corporations, broker-dealers and banks on board, including The Depository Trust & Clearing Corporation (DTCC) and the Clarient founder banks, Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street.

Matthew Stauffer, CEO of Clarient Global, said: “We are pleased to see continued adoption of the Clarient Entity Hub service across all market segments, as more and more firms are considering utilities for their client entity data management processes.”

He added: “As an industry-owned and governed organisation, we’ll continue to enhance the service to meet clients’ evolving data and documentation management needs.”

More data services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
US equity data made more accessible to UK firms
23 August 2017 | London | Reporter: Stephanie Palmer
Nasdaq is to offer market data on proprietary US equity feeds via the Equinox London International Business Exchange data centre, LD4
SIX launches new regulatory data and document exchange platform
18 July 2017 | Zurich | Reporter: Barney Dixon
SIX Financial Information has launched a new platform allowing for more efficient electronic exchange of regulatory data between wealth managers, asset managers and banks
T7 goes live at Irish Stock Exchange
18 July 2017 | Leinster | Reporter: Barney Dixon
The Irish Stock Exchange has migrated to Deutsche Börse’s new T7 trading platform, which aims to enhance the performance of ISE’s equity marketing offering
Broadridge makes data intelligence acquisition
11 July 2017 | London | Reporter: Stephanie Palmer
Broadridge is expanding its data and analytics solution with the acquisition of Spence Johnson, a provider of institutional data and intelligence to the asset management industry
Caceis welcomes two new clients to TEEPI
23 June 2017 | Luxembourg | Reporter: Stephanie Palmer
Swiss Life Global Solutions, a Luxembourg-based insurance and wealth management provider, and European asset manager Amundi have joined the Caceis Tailored Electronic Exchange Platform for Investors
Jupiter chooses Milestone for NAV oversight
05 April 2017 | London | Reporter: Stephanie Palmer
Jupiter Asset Management has selected Milestone Group’s pControl Oversight solution to provide automated collection of fund valuation data and verification of daily net asset value prices
Kas Bank secures LGPS reporting mandate
28 March 2017 | London | Reporter: Mark Dugdale
The custodian and fund administrator was appointed by Norfolk County Council, whose framework will be used to provide performance monitoring services to all 89 LGPS funds
More data services news