SIX Financial Information signs first clients for FATCA data

Zurich, London – SIX Financial Information has signed its first FATCA data contract in the UK with a leading global investment bank. Further contracts have also been signed across Europe. Clients will profit from SIX´s FATCA solution, recognized as best in class by A-Team´s DMS awards.

SIX Financial Information will provide Foreign Account Tax Compliance Act (FATCA) relevant reference data through its flagship product Valordata Feed (VDF) to integrate with the clients’ securities database.

The VDF data model enables linkage between the FATCA entity type and Foreign Financial Institution (FFI) status together with the tax status at the level of individual instruments and hence enables the appropriate tax withholding. These identifiers jointly form the basis for correct reporting under the FATCA regime, due to come into force on 1 July 2014.

Being able to intelligently link data is one of SIX Financial Information‘s strengths. VDF can, for instance, link the Global Intermediary Identification Number (GIIN) that the IRS is introducing to identify FFIs with other company identifiers, such as the Legal Entity Identifier (LEI) or the D-U-N-S® Number.

Dominique Tanner, Head Business Development at SIX Financial Information, comments “With the recent confirmation of the FATCA deadline, many more firms are now recognizing the importance of getting their FATCA solutions tested and ready – leaving it too late could end up being costly.”

This month, SIX has also received the “Best Solution for FATCA“ award at the DMS Data Management Awards from A-Team Group. The DMS Data Management Awards acknowledge industry excellence within market data, reference data and enterprise data management. The accolades are awarded to the companies who receive the highest number of votes in each category from A-Team’s wide readership and were presented at the A-Team Data Management Summit on October 3, 2013 in London.

“We are delighted that our FATCA solution has been recognized as best in class by the DMS Awards and further endorsed by our clients. This recognises our innovation and expertise in the area of compliance and regulation,” concludes Martin Cole, Managing Director of SIX Financial Information UK.

A propos de SIX Financial Information

SIX Financial Information occupe une place prédominante, au niveau mondial, dans la fourniture de services de données et de solutions à destination des organismes financiers et d'assurance, des entreprises et des médias. Intégrée en temps réel à partir de plus de 1 500 sources de par le monde, l'information financière de SIX est composée de données de référence, de données de marché, d'Opérations Sur Titres et de prix sur plus de 16 millions d'instruments et est unique en termes de profondeur, de couverture et de structure. Avec des bureaux implantés dans 23 pays, SIX combine les avantages d’une présence locale à une dimension internationale, offrant ainsi des services de données pertinents aux professionnels de la gestion de référentiels titres, de la gestion des risques et de la conformité, du conseil en investissements, et de la gestion de portefeuilles. 

Financial Information est l'un des quatre domaines d'activité de SIX qui offre au niveau international des services de qualité dans les domaines du négoce et du règlement de titres, des transactions de paiement et de l'information financière.

Contact

SIX Financial Information
Marketing Communications
Jeanette Babik
T +41 58 399 5154
marketing@six-financial-information.com

SIX
Media Relations
Jürg Schneider
T +41 58 399 2129
pressoffice@six-group.com