ICE Launches Service to Help Identify and Monitor Entities and Securities Subject to Financial and Economic Sanctions Programs
Intercontinental Exchange (NYSE:ICE) has launched a sanctions service to aid institutional compliance with global sanctions, including programs administered by the United Nations, European Union, and the U.S. This leverages ICE’s data offering and cross-referencing capabilities to identify securities, entities, and groups targeted by sanctions.
11/07/2023 - 08:30 AM
Covers programs overseen by CFSP, OFAC and UNSC, among others.
ATLANTA & NEW YORK --(BUSINESS WIRE)--
Intercontinental Exchange (NYSE:ICE), a leading global provider of data, technology and market infrastructure, today announced the launch of a sanctions service to help facilitate institutional compliance with a complex and dynamic landscape of global sanctions, including programs administered by the United Nations, European Union, U.S. and others. This new service leverages ICE’s extensive data offering, cross-referencing and linkage capabilities to identify securities, entities and groups targeted by sanctions programs.
Sanctions can target governments, companies or individuals and, for most sanction programs, consist of asset freezes, economic and financial measures and embargoes. ICE’s sanctions data covers financial and economic restrictive measures against entities sanctioned by the Common Foreign and Security Policy (CFSP) in the European Union, the Office of Foreign Assets Control (OFAC) in the U.S. , the United Nations Security Council (UNSC) for the United Nations and other sanctioning authorities.
“Understanding and monitoring sanctions programs can be a complex, time-consuming process,” said Mark Heckert, Chief Product Officer at ICE Fixed Income and Data Services. “By leveraging our extensive coverage of securities, we’re able to provide an easy-to-use solution to help customers achieve compliance with existing programs and avoid fines or negative exposures to restricted entities.”
This data set delivers key information to clients to respond quickly to international events leading to restrictive measures. It provides the linkages between entities within a group and the securities issued by those entities, which can help facilitate increased automation of compliance program processes. The service provides seamless linkage to other data sets on top of the core sanction information, leveraging a common data model and market standard identifiers. Beyond highlighting exposure to security issuing entities, the service also maps to targeted entities serving as the guarantor or obligor of an instrument.
For more information about ICE’s sanctions data, please visit https://www.ice.com/fixed-income-data-services/data-and-analytics/reference-data#sanctions .
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges , including the New York Stock Exchange , and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology , we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here . Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.
Category: Fixed Income and Data Services
SOURCE: Intercontinental Exchange
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ICE Media Contact :
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Source: Intercontinental Exchange
What is the purpose of the new sanctions service launched by Intercontinental Exchange (NYSE:ICE)?
The purpose of the new sanctions service is to aid institutional compliance with global sanctions, including programs administered by the United Nations, European Union, and the U.S.
Who is the Chief Product Officer at ICE Fixed Income and Data Services?
Mark Heckert is the Chief Product Officer at ICE Fixed Income and Data Services.
What does the new sanctions service provide to clients?
The new sanctions service provides key information to clients to respond quickly to international events leading to restrictive measures. It also delivers linkages between entities within a group and the securities issued by those entities, aiding increased automation of compliance program processes.
How does the new sanctions service help clients avoid fines or negative exposures to restricted entities?
The new sanctions service helps clients avoid fines or negative exposures to restricted entities by providing an easy-to-use solution to achieve compliance with existing programs.
