Canada's CIBC World Markets has contracted with New York market data technology firm Cicada for the supply of legal entity data sourcing and management services, which it will use to support its regulatory compliance programmes.
The service will consist of client entity data records provided by CounterpartyLink, along with additional and customised fields provided by Cicada to suit the bank's specific requirements.
In addition, Cicada will source and provide corporate documents and regulatory filings to meet the documentation standards established by CIBC's legal and compliance divisions.
Hubert Holmes, EVP, Cicada, comments: "CIBC World Markets' set of requirements presents an ideal venue to bring together the advantages of our entity data management software, the experience of our top-notch team in providing data handling, and our redistributor agreement with CounterpartyLink."
The Cicada service will initially be used by CIBC World Markets' equities group in the US.