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ENTITY EXCHANGE FOR SELL-SIDE FIRMS
- 1. COMPLIANCE & RISK MANAGEMENT SOLUTIONS Entity Exchange accelerates hedge fund onboarding to improve regulatory compliance and client service. ONBOARDING CAUSES TRADING DELAYS A variety of global regulations require sell-side institutions to demonstrate they understand with whom they are doing business, the scope of which includes proof of ownership, source of funds, legal structure and associated persons. Firms must also screen counterparties against sanctions and watch lists. Known collectively as Know Your Customer (KYC), these requirements are designed to detect criminal activity and protect banks from regulatory scrutiny, fines and reputational risk. For broker/dealers and other sell-side organizations, addressing KYC routinely involves regulatory interpretation, implementation of compliance frameworks and managing large teams to handle data collection and due diligence. As sales and trading desks request immediate onboarding of their clients, onboarding teams must quickly request the information and documents critical to risk evaluation. This process tends to be manual, typically leveraging email as the means of communication. While KYC requirements differ by each type of client, hedge funds present unique onboarding challenges. Lack of transparency into ownership and associated persons can often lead to delays in onboardingresulting in frustrated clients. Both sell-side firms and their hedge fund clients need a way to complete the onboarding process faster and more securely without compromising client service. ENTITY EXCHANGE OFFERS SPEED & TRANSPARENCY To accelerate onboarding, Bloomberg developed a new way to request and exchange this sensitive and critical information. Entity Exchange is a centralized, web-based platform designed to facilitate the exchange of data and documentation between sell-side firms and hedge fund clients. The sell-side firm can easily request KYC and other onboarding documents and forms from hedge fund clients using a streamlined workflow. Requests are delivered through the Entity Exchange platform, which automatically matches each item requested to documents and data that hedge funds have already uploaded to a secure Company Profile. This ensures sell-side firms receive high-quality, accurate, primary-source information as quickly as possible. In addition, all data points that are automatically populated within forms include links to original source documents. ENTITY ONBOARDING SERVICES STREAMLINE DOCUMENT EXCHANGE ≒ Secure, encrypted transfer and storage of highly sensitive information ≒ Transparency into the progress of request fulfillment ≒ Efficient download of documents and data to internal systems ≒ Automatic completion of required forms and documents ≒ Automated counterparty renewal process ≒ Efficient issue management capabilities ≒ Detailed audit trail of counterparty interaction ≒ Support for a wide range of document types required by KYC, tax, credit, legal, and regulatory departments
- 2. BEIJING +86 10 6649 7500 DUBAI +971 4 364 1000 FRANKFURT +49 69 9204 1210 HONG KONG +852 2977 6000 LONDON +44 20 7330 7500 MUMBAI +91 22 6120 3600 NEW YORK +1 212 318 2000 SAN FRANCISCO +1 415 912 2960 SO PAULO +55 11 2395 9000 SINGAPORE +65 6212 1000 SYDNEY +61 2 9777 8600 TOKYO +81 3 3201 8900bloomberg.com/enterprise TAKE THE NEXT STEP Learn more about our secure, transparent and efficient solution for hedge fund onboarding. Visit bloomberg.com/enterprise or reach us at hfcompliance@bloomberg.net. The data included in these materials are for illustrative purposes only. 息2016 Bloomberg L.P. All rights reserved. S650794499 0116 DIG BLOOMBERG FOR ENTERPRISE To succeed today, financial institutions must respond to challenges that are not addressed by traditional approaches. They require world-class solutions that integrate people, processes, information and technology for the front office, middle office and operations. Bloomberg partners with these institutions to protect and capitalize on data, manage risk, deliver transparency and control costs. Through enterprise-level expertise and three decades of deep industry experience, Bloomberg creates real value through the use of innovative technology that turns data into a strategic asset. EXTENSIVE CAPABILITIES The Entity Exchange solution provides the capabilities sell-side firms need to complete the onboarding process as rapidly as possible, including: ≒ Transparency into hedge fund entity ownership structures ≒ Policy agnostic frameworkany document/form can be requested/collected ≒ Push notifications when hedge funds change or update critical information ≒ Electronic signature capabilities ≒ Ability to manage remediation projects for policy and/or regulatory changes ≒ Client profile and dashboard reporting The Bloomberg Entity Exchange solution provides a secure, streamlined way for sell- side firms to request and receive onboarding documents and data from hedge funds. An optimal onboarding workflow Submit data and documents to central platform. Communications occur through the platform to increase speed. An audit trail itemizes the points of interaction. Access to the platform requires secure authentication. Data and documents are made available to select broker counterparties. Central Platform