BlackRock has selected Thomson Reuters Org ID (Org ID) to complement its existing rigorous counterparty due diligence process.
“We have very robust counterparty due diligence processes in place and have selected the Thomson Reuters Org ID service to further augment the screening and ongoing monitoring of trading counterparties,” said Robert Goldstein, Chief Operating Officer of BlackRock. “Thomson Reuters ability to leverage other assets across their suite of risk solutions in an integrated offering provides us with an effective resource to complement BlackRock’s counterparty risk management program.”
“We are thrilled to be working with BlackRock to further enhance its counterparty due diligence process,” said Steve Pulley, Global Managing Director of Org ID at Thomson Reuters. “Our solution has been uniquely designed with the requirements of leading asset management and alternatives firms such as BlackRock in mind. We recognise the importance of screening and continuous monitoring of clients and counterparties to the on-boarding and refresh process, something we firmly believe differentiates our offering.”
The agreement with BlackRock follows Thomson Reuters Org ID recently becoming the first KYC managed service provider to successfully complete an ISAE 3000 audit, conducted by PwC, in relation to the design of and adherence to internal processes, controls and compliance policy.