Clearstream Advances Digital Tax Services Through Collaboration with S&P Global Market Intelligence’s Tax Solutions

Shaping the future of global tax services

Tax services are a strategic priority for Clearstream as the industry faces growing regulatory complexity, increasing reporting obligtions and rising demand for more efficient digital processes. To support clients in navigating this evolving landscape, Clearstream is advancing the next phase of its tax transformation journey through a strategic collaboration with S&P Global Market Intelligence’s Tax Solutions.

The multi-year initiative aims to accelerate the digitization and industrialization of tax reporting, certification and control processes, initially focused on the U.S. market. Combining Clearstream's tax expertise and market infrastructure capabilities with S&P Global Market Intelligence's digital tax solutions, the collaboration will help deliver a more automated, integrated and scalable tax servicing model that enhances efficiency, transparency and compliance for clients.

Transforming tax documentation through end-to-end digital workflows

A key milestone in this journey will be the planned integration of S&P Global Market Intelligence's Electronic W-8 (E-W8^TM) solution into the Xact Web Portal. This enhancement will enable clients to capture, validate, electronically sign and submit IRS tax documentation through a fully digital channel. By replacing manual processes such as printing, scanning and emailing, clients will benefit from improved data quality, accelerated processing and faster effectiveness of tax documentation.

The collaboration builds on Clearstream's ongoing Tax Evolution initiatives, including the successful launch of its enhanced U.S. beneficial owner (BO) disclosure capability. Introduced as part of Clearstream's broader digital transformation roadmap, the solution established a structured straight-through processing (STP) framework supported by a Unique BO Identifier, helping improve data quality, reduce operational effort and increase automation across disclosure processes.

Together, the enhanced BO disclosure framework and the planned E-W8 integration contribute to Clearstream's commitment to building a fully integrated digital tax ecosystem. While the BO disclosure capability modernizes how beneficial owner information is disclosed and processed, the E-W8 solution will transform how tax documentation is created, validated and managed, extending digitalization across the tax documentation lifecycle.

Delivering measurable benefits through automation and data quality

The enhanced U.S. BO disclosure capability delivers:

• Faster processing through straight-through automation
• Improved data accuracy and validation, reducing rejection rates
• Clear identification of beneficial owners, eliminating ambiguity associated with manual, name-based disclosures
• Reduced operational effort and costs through the removal of manual intervention

Shaping the future of global tax services

These developments form part of Clearstream's broader ambition to consolidate tax reporting, certification and control processes on a single, streamlined platform. Together with S&P Global Market Intelligence, Clearstream is advancing a roadmap centered on three key objectives:

• Regulatory excellence: ensuring full compliance with U.S. Qualified Intermediary (QI) requirements and IRS electronic filing obligations
• Operational excellence: strengthening controls and efficiency across high-volume processes, supporting new client segments, including NQI clients, and enabling B2B2C service models
• Technological modernization: accelerating digitization and transitioning from legacy solutions to scalable, future-ready platforms

Looking ahead, Clearstream aims to extend these capabilities across additional markets and regulatory frameworks, further strengthening its European and global tax service offering. As tax regulations continue to evolve, Clearstream combines deep market expertise with active engagement across tax authorities, market associations and regulatory bodies to anticipate change and help shape the future of tax services.