Where to start eating the elephant?!

As most of you know, on July 1, Avox became a 100% owned subsidiary of the Depository Trust and Clearing Corporation (DTCC) headquartered in New York. The three months leading up to that date and the time between then and now have been, to put it mildly, crazy.

There are of course all the stresses and strains associated with negotiating a company purchase/sale. These however were significantly compounded by the marked increase in interest for business entity data within the industry. President Obama increased the pressure when he signed the Financial Reform bill in July which includes the establishment of a systemic risk regulator known as the Office of Financial Research (OFR - formerly NIF). Amusingly you will find a mildly derogatory blog entry written by yours truly on NIF earlier this year.

What really catalyzed the market was Avox's acquisition by the DTCC. It is absolutely clear now that this partnership is a great one. Financial institutions around the world recognize the DTCC for what it is - a global, industry owned financial utility with an excellent reputation for efficiency, security and stability. What better home for a business entity reference data utility?

There will be lots to report on going forward. From my new vantage point, I can see some rather significant shifts in the landscape and they are all for the better. The only requirement will be a willingness to change.

Ken