Avox offers API connections to legal entity data
Avox, the DTCC’s legal entity reference data subsidiary, has launched a series of web-based application programming interfaces designed to support faster access to data, including legal entity identifiers, legal names, addresses, industry classifications and corporate hierarchies.
Mark Davies, managing director of Avox, said: “We recognise that our clients require high standards of data accuracy and completeness and now more than ever the timeliness of updates is critical. This release is a critical step to help our clients to achieve their aim of much needed STP in the sourcing and ongoing maintenance of legal entity data.”
Avox sources and cleans legal entity information from its data centre in Wrexham, North Wales, where it currently employs 400 analysts – Davies says the headcount has doubled over the past two years.
Much of the corporate information available is incomplete, out of date or both, so the Avox analysts collate it and cross-reference information from multiple sources to improve the data quality – according to Davies, one of Avox’s selling points is taking the burden of having to do this from its clients.
“There’s a lot of checking needs to be done,” he said. “We’re doing it the hard way because it is the only way that you can get the right information.”
Previously, Avox services were available via a web portal or in a flat file for end-of-day delivery. The introduction of web services means data can now also be delivered on a request/response basis, and will enable clients to draw Avox content directly into in-house applications or using vendor-supplied enterprise data management technology platforms.
The launch provides search, subscribe and update functionality for data across the entire Avox database of over 1.7 million entities, along with the ability to request the sourcing of data on new legal entities in more than 180 countries.