EDI and BigTXN partner for Global Sanctions Data

By Gloria Methri

BigTXN, the UK-headquartered data provider, has appointed Exchange Data International (EDI) as an authorised reseller for its Global Sanctions Monitoring (GSM) service. The GSM service identifies explicitly stated sanctions as well as implicitly sanctioned entities and their linked financial instruments.

The financial services industry faces a challenging sanctions compliance and enforcement landscape, that has grown more complex since Russia’s invasion of Ukraine.

Haider Mannan, Founder and CEO of BigTXN said, “Having built a world-class sanctioned securities monitoring service, we are excited to be widening our distribution capability in partnership with EDI, a world-class market data provider.”

EDI is a provider of global security corporate actions, pricing, and reference data, and a serial winner of the ‘Best Corporate Actions Data Provider’ award in recognition of its corporate actions data and expertise.

Jonathan Bloch, CEO of EDI, said, “Together, the G7 have imposed the most forceful and far-reaching sanctions we have ever seen and the complexity in identifying sanctioned securities is riddled with complexity. EDI is excited to be taking BigTXN’s sanctions data solution to market to help firms solve this difficult problem.”

Investment firms use BigTXN’s service to comply with pre and post-trade sanctions requirements, screen their investment universe and keep their investment and trade restriction lists up-to-date.

With a proprietary algorithm and advanced machine learning, GSM from BigTXN brings together a vast amount of regulatory and securities data. In addition, the service runs on BigTXN’s cloud-based Enterprise Data Management platform, to identify entities and instruments required by market participants to avoid penalties for compliance breaches.