DTCC sells Clarient Global and Avox to Thomson Reuters
Thomson Reuters acquires Clarient Global and Avox from DTCC
The Depository Trust and Clearing Corporation (DTCC) has agreed to sell its Clarient Global and Avox businesses to Thomson Reuters.
Once the deal closes (expected by the end of this quarter), the two units will be integrated into Thomson Reuters’ portfolio of risk management, compliance and reference data offerings.
Thomson Reuters says these acquisitions “represent another step forward” for the company in the KYC space. It brought the first KYC managed service to market three years ago (Org ID) – “and today serves 23 leading financial institutions worldwide with over 200,000 KYC records published to date, consistently on-boarding or refreshing over 2,000 clients per month”.
Clarient was set up in 2014 by DTCC together with six banks (Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JP Morgan and State Street) to focus on compliance, KYC and client reference data. The company is based in the US.
UK-based Avox is a supplier of legal entity data on financial entities globally. It was purchased by DTCC in mid-2010.
