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Bloomberg revamps counterparty onboarding process with Entity Exchange

GRC Announcements | May 26, 2016

Bloomberg announced the launch of its Entity Exchange platform, a web-based, centralized and secure solution that enables buy-side firms to provide entity data and documentation to their trading counterparties. Entity Exchange eases the process of opening new trade accounts for the buy-side, while also helping brokers satisfy Know-Your-Customer (KYC) compliance requirements.

To make the most of sophisticated trading strategies, hedge funds need to trade with a wide variety of sell-side counterparties. These counterparties require a great deal of information and documentation to establish trading relationships, and these requirements frequently change and increase.

While global regulations require brokers to collect and organize more and more customer information as part of an established KYC process, entity information management is a two-way challenge...

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