SIX has been awarded the Best Solution in Regulatory Intelligence in the inaugural Regulation Asia Awards for Excellence 2018 at a ceremony in Singapore on 13 November 2018.
The firm emerged as the winner after a rigorous selection process, involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team.
SIX provides a service for global monitoring of sanctioned securities – the Sanctioned Securities Monitoring Service (SSMS) – which automates the complex process of matching individuals, companies and beneficial owners against regulators’ sanctions lists, and adding them to its do-not-trade list. This daily list of issuers and securities linked to the domiciles, companies and individuals sanctioned by the United Nations, European Union, US Treasury Department OFAC, HM Treasury (UK) and the Hong Kong Sanctions Regime can be easily integrated into clients’ banking systems ready for pre-trade screening.
This gives firms an up-to-date view on their risk exposure and the ability to react quickly when new sanctions are imposed. It also allows firms to save time and money on complex data sourcing, scrubbing and mapping, while minimising the risk of reputational damage and large fines, which can sometimes run into billions of dollars, noted one judge.
The SSMS provides coverage of national, international and sectoral sanctions lists, matching them against over 6.7 million active securities, 220 million private companies, 65 million public companies, 152 million director/shareholder contacts and 1.8 million shareholder relations. To date, over 28,000 securities have been flagged.
As an example, when the US announced sectoral sanctions on Venezuela in August 2017, the SSMS took just 48 hours to identify 250 entities and 600-700 securities impacted by the announcement, allowing clients more time to adjust their portfolios during the 30-day wind-down period that was granted.
About the Regulation Asia Awards for Excellence 2018
The inaugural Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
Visit www.regulationasia.com or connect via LinkedIn or Twitter.
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