Switzerland-based data giant SIX and Eagle Investment Systems, a BNY Mellon company, have expanded their existing alliance to help Eagle clients source global sanctions data. SIX and Eagle have had a relationship since 2011.
Eagle clients can now source sanctions data directly from SIX for use within Eagle solutions. The alliance will help to streamline efforts by clients to source, validate, and align sanctions data with existing portfolio data, helping firms minimise the risk of reputational damage and fines that can result from dealing with sanctioned entities.
“Alliances, such as SIX, are critical to our mission of bringing services and capabilities that, when combined with Eagle, can bring a greater solution to our clients,” says Joel Kornblum, Head of Strategic Alliances at Eagle Investment Systems. “SIX is an award winning provider of global sanctions and watchlist data; sourcing this data can help our clients to manage portfolio risk more effectively.”
“Effective sanctions compliance depends on accurate identification of in-scope entities and their issued securities, which are very complex and constantly changing,” says John McManus, Head of Sales Americas, Financial Information, SIX. “Expanding our relationship with Eagle Investment Systems delivers a data solution that empowers their clients to adapt quickly to regulatory demands and sanctions activity, helping them to trade with confidence as a result.”
The Sanctioned Securities Monitoring Service from SIX provides a list of related entities and issued securities of “watched” individuals or organisations who have been sanctioned by regulators or government bodies. The service identifies the regimes under which each is sanctioned, drawing from various international regulatory bodies, including those of the European Union, Hong Kong, United Kingdom and United States, as well as the United Nations. SIX monitors 6.7 million active instruments and over 26,000 changes a week (such as regulator updates and shareholder changes), making it one of the most comprehensive sanctions and watchlist checks in the market.