#United States #Chicago #Chicago Clearing Corp #TaxTec #AI-driven Tax

Strategic Partnership: Chicago Clearing Corporation and TaxTec

In a significant move for the financial services sector, the Chicago Clearing Corporation (CCC) has announced a strategic partnership with TaxTec, an innovative player in global tax reclamation. This partnership aims to maximize recoveries and streamline operations for institutional investors around the globe. CCC, a veteran in securities and antitrust class action claim filing, and TaxTec, which leverages AI for tax reclaim processes, plan to integrate their expertise to provide a more comprehensive service to their clients.

Deep Expertise and Focused Innovation

For over 30 years, the Chicago Clearing Corporation has specialized in handling securities claims, amassing an impressive portfolio of over 20 million claims and recovering more than $3 billion for its extensive client base, which includes over 3,200 clients managing upwards of $7 trillion in assets. This established credibility positions CCC as a trusted name in the space of securities litigation recovery.

On the other end of the partnership, TaxTec, founded in 2023, uses state-of-the-art artificial intelligence to facilitate tax reclamation across more than 100 jurisdictions. With its innovative platform, TaxTec aims to simplify the recovery of withholding tax through automated processes, enhancing real-time compliance tracking and offering swift monetization options for its users.

Enhancing Client Outcomes

James Tharin, CEO of the Chicago Clearing Corporation, articulated the partnership's purpose, stating, “Every year, billions of dollars go unclaimed—whether from securities settlements or unrecovered withholding tax.” By combining CCC's experience in securities claims with TaxTec’s technological prowess, the partnership seeks to optimize how institutional investors recover funds that are rightfully theirs, achieving better outcomes with reduced effort.

Stephen Everard, CEO of TaxTec, echoed this sentiment, indicating that combining forces allows for a robust methodology to unlock value that has previously been complex or costly to pursue. This synergy positions the firms to offer unmatched service in both litigation-driven settlements and tax recoveries, thus simplifying processes for their clients.

Comprehensive Coverage for Institutional Investors

The collaboration provides a holistic recovery solution tailored for institutional investors, custodians, asset managers, pension funds, and other financial institutions. The combined capabilities of CCC and TaxTec are set to deliver seamless coverage across litigation settlements and tax recovery pathways.

Their innovative partnership aims to reshape the landscape of financial recovery, empowering clients with better services and enhancing the efficiency of reclaim processes. This alignment is ideal for clients who require expertise across both areas of securities litigation and tax reclamation.

For further insights into how these companies are setting new standards in the industry, visit their websites at Chicago Clearing Corporation and TaxTec.

About TaxTec

Founded in 2023, TaxTec specializes in providing an AI-driven global tax recovery solution specifically designed for institutional investors. The firm's approach is centered around modern technology that simplifies complex tax reclamation processes while helping to reduce administrative costs.

About Chicago Clearing Corporation

The Chicago Clearing Corporation is an expert in securities and antitrust class action claims services. It alleviates the burden of claim filing, ensuring clients have access to recovery opportunities so they can focus on more critical investment tasks.