European DataWarehouse Announces UK Subsidiary
Frankfurt, Germany— 8 November 2018
European DataWarehouse (ED) today announced it has established a UK Subsidiary, European DataWarehouse Ltd. The new subsidiary enforces the firm’s ongoing commitment to the UK market amid the uncertainty of Brexit.
Christian Thun, CEO of European DataWarehouse stated: “European DataWarehouse is determined to continue to serve and support UK customers after Brexit and we’re taking all necessary steps to ensure a smooth transition, including a physical presence if necessary.”
Steve Gandy, ED Board member and Managing Director at Santander Global Corporate Banking added: “As a leading issuer of asset backed securities in Europe and in the United Kingdom, Banco Santander welcomes European DataWarehouse’s ongoing commitment to the UK market.”
This release follows a London workshop hosted by European DataWarehouse to prepare UK clients for the forthcoming implementation of the Securitisation Regulation (EU) 2017/2402, which applies from 1 January 2019. In addition, European DataWarehouse took earlier steps in supporting their UK clients by publishing a Gap Analysis between the Bank of England ABS Loan Level Data Templates and the draft templates proposed by ESMA on 22 August 2018.
European DataWarehouse plans to take further steps to support UK clients once details surrounding post-Brexit regulation of the ABS market are announced.
About European DataWarehouse GmbH
European DataWarehouse (ED) is the first and the only centralised data repository in Europe for collecting, validating and distributing detailed, standardised and asset class specific loan-level data for Asset-Backed Securities (ABS) and private whole loan portfolios. ED stores loan-level data and corresponding documentation for investors and other market participants.
Operating as a market infrastructure and designated by the Eurosystem, ED aims to increase transparency and restore confidence in the ABS market. Through ED’s data, users are able to analyse underlying portfolios and compare portfolios on a systematic basis.
ED was established in 2012 as part of the implementation of the ECB ABS loan-level initiative. Since its inception as an initiative by the leading participants of the European securitisation market, ED has collected LLD and relevant documentation for more than 1,200 transactions.
For the latest updates from European DataWarehouse, please visit www.eurodw.eu.
European DataWarehouse GmbH
Marketing & Communications Manager
Tel. 49 (0) 69 50986 9326