Clearstream has entered a multi-year collaboration with S&P Global Market Intelligence’s Tax Solutions division to accelerate the digitization of its tax reporting, certification and control processes, with an initial focus on the U.S. market.
The partnership is aimed at combining Clearstream’s tax expertise and market infrastructure with S&P Global Market Intelligence’s digital tax capabilities to create a more automated and scalable tax servicing model. The companies say the collaboration should improve efficiency, transparency and compliance for clients navigating an increasingly complex regulatory environment.
A central component of the initiative is the planned integration of S&P Global Market Intelligence’s Electronic W-8 solution into Clearstream’s Xact Web Portal.
The addition would let clients capture, validate, sign and submit IRS tax documentation entirely online, replacing manual steps such as printing, scanning and emailing. Clearstream expects the change to improve data quality and speed up processing times.
The move builds on Clearstream’s earlier Tax Evolution work, including its enhanced U.S. beneficial owner disclosure capability, which introduced a straight-through processing framework supported by a Unique BO Identifier. That system was designed to reduce manual errors and cut operational costs associated with name-based disclosures.
Clearstream said the broader roadmap with S&P Global Market Intelligence centers on three goals: maintaining compliance with U.S. Qualified Intermediary and IRS electronic filing requirements, strengthening operational controls for high-volume processes, and modernizing legacy technology.
The firm indicated it plans to extend these digital tax capabilities to additional markets over time as part of its wider European and global tax servicing strategy.
About S&P Global Market Intelligence:
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About Clearstream
Clearstream Banking provides post-trade infrastructure and securities services. Clearstream Banking (Luxembourg) is an international central securities depository (ICSD), providind its services for the international market and domestic markets. Clearstream Banking (Germany) acts as a central securities depository (CSD), providing the post-trade infrastructure for the German securities industry offering access to a growing number of international markets.
Clearstream Banking S.A. operates as a subsidiary of Clearstream Banking AG (Germany).
Source: leaprate.com
