Clarient Global LLC

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Clarient Global LLC
Founded July 2014
Products Clarient Entity Hub

Clarient Global LLC is an entity launch by the Depository Trust & Clearing Corp., along with six big banks, in July 2014. It is intended to shed more light on Wall Street's web of client relationships.[1]

It is majority owned by DTCC. Its shareholders are: Bank of New York Mellon, Barclays, Credit Suisse Group, Goldman Sachs Group, J.P. Morgan Chase and State Street Corp.

Its key product, Clarient Entity Hub, is a central repository for information about banks' institutional clients designed to help the banks cope with internal risk management requirements and Know Your Customer (KYC), Foreign Account Tax Compliance Act (FATCA) and other client data and documentation challenges. It will allow investment managers, hedge funds, and corporate entities to upload, validate, distribute and store entity level information, documentation and hierarchy data.[2]

Clarient Entity Hub will share this information with regulators whenever possible and allow them to conduct audits in line with firms' compliance procedures. Providing the information on one platform could make it easier for regulators to police the $700 trillion over-the-counter derivatives market.

Users of Clarient will pay to look up information about third parties. Banks will ask clients to refresh their own information on the portal.

History

Products and Services

Clarient Entity Hub

Key People

References

  1. New Street Entity Aims to Integrate Client Data. The Wall Street Journal.
  2. DTCC Collaborates With the Industry to Launch New Client Data and Documentation Utility. DTCC.