Press Release:
Press Release
News Article February 2005
NEW YORK, Feb. 15 /PRNewswire/ -- CounterpartyLink(TM) has officially announced the appointment of Christoph Lammersdorf, former Deutsche Borse executive, as Managing Director. Last week, the company announced its product launch and participated as a sponsor at the FIMA Conference in New York.
CounterpartyLink provides counterparty and legal entity data, designed to help organizations meet the requirements of compliance, risk management, securities processing and client database/CRM applications.
Mr. Lammersdorf joins CounterpartyLink from Deutsche Borse, where he was Managing Director of the Information Services Division. Under his leadership at the Exchange, the Information Services Division produced increases in revenue from information products for several consecutive years, completed a new data warehouse, launched a new real-time consolidated data feed, created a new European bond index family and acquired a 50% ownership stake in Infobolsa. Prior to joining Deutsche Borse, Mr. Lammersdorf was Vice President of Contributor and Supplier Relationship Management at Dow Jones/Telerate.
On joining the organization, Mr. Lammersdorf said, "I am extremely enthusiastic about the opportunity to bring my financial information business experience to CounterpartyLink and to help customers with the critical applications this product is designed to serve. With the standards and processes being used to manage CounterpartyLink data, our aim is to help financial institutions around the world with their most urgent regulatory compliance requirements around entity data, including those related to Basel II, Know Your Customer, the Patriot Act, Sarbanes-Oxley and other emerging frameworks."
The data provided by CounterpartyLink contains detailed issuer and issuer hierarchy information, collected and maintained using documented processes and procedures. An important aid for compliance requirements, all data collection and intervention is supported by an audit trail.
The issuer and hierarchy data in CounterpartyLink, as well as linkages needed to integrate with other data sources and in-house customer databases, are continually monitored for corporate actions and other changes that may affect the data. Such changes are applied to critical data within hours of their detection and verification.
The types of issuers covered include corporations, funds and fund managers, financial institutions, governments, and most other common entities and their immediate, intermediate, and ultimate parents.
CounterpartyLink data is available through a subscription-based license and is delivered to customers on a daily update basis, in a choice of file formats including XML and comma-delimited.
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