Telekurs Financial is the first vendor to make its ISO 15022corporateactionsfeed available within Information Mosaic’scorporateactionsproduct Cama. Information Mosaic is taking the feed via Telekurs Financial’s VDFS internet/FTP access site to its Valordata Feed (VDF). The feed provides intraday, end-of-day, and ad hoccorporateactionsdata.
Category:RDR-CorporateActions, Reference Data Review
Thecorporateactionsworking group of the Reference Data User Group (RDUG) is planning to outline a set of standards for issuers ofcorporateactionsevents. The group is planning a year-end release of a white paper focusing on interpretation risk, where parties are forced to interpret the details of an event for processing, and offer recommendations on creating a more structured format for …
Category:RDR-CorporateActions, Reference Data Review
Denmark’s fourth largest bank Sydbank has licensed SmartStream Technologiescorporateactionsprocessing software TLMR to automate itscorporateactionsprocessing. The solution will be implemented by Sydbank’s outsourced IT services provider Bankdata by mid-2005. TLMR automates front-to-back processing of mandatory and voluntary events, providing data capture from multiple sources, cleansing, processing and accounting services.
Egon Rohden, vice president of markets …
Category:RDR-CorporateActions, Reference Data Review
The Singapore Exchange next month will begin distributing itscorporateactionsdata over the Swift network using the ISO 15022 standard format. The exchange will use Swift for delivery of Singaporecorporateactions, mostly dividends and payment announcements, but will add othercorporateaction data types such as rights issues later. The exchange joins the London, Tokyo and Johannesburg stock exchanges, which all use the network to distribute their data.
Category:RDR-CorporateActions, Reference Data Review
UK stockbroker Brewin Dolphin has signed up to takecorporateactionsdata from Telekurs Financial. The data will be delivered on a daily basis in the ISO 15022 format.
Category:RDR-CorporateActions, Reference Data Review
Vermeg revealed its Megacorcorporateactionssolution is being used at Luxembourg-based Fideuram Bank. The service is being used to support Fideuram Bank’s new function as a global sub-custodian for another depository bank, an activity it began in early 2004. It uses Megacor to capture and produce ISO 15022-formattedcorporateactionsmessages. This is the second client in Luxembourg for Vermeg.
Category:RDR-CorporateActions, Reference Data Review
… used the Swift SIBOS event in Singapore last month to debut its new ISO 15022-format MT564corporateactionsdelivery platform. The new platform, developed in conjunction with Swift, will carry the same range of structure, coded basic data andcorporateactionsalready available via the Telekurs Valordata Feed (VDF). Pilot operations using the new capability were to begin via Swiftnet this month.
Category:RDR-CorporateActions, Reference Data Review
Exchange Data International (EDI), a specialist in the aggregation of reference andcorporateactionsdata, has integrated structured products into itscorporateactionsdatabase and Security Reference File services. Thus far EDI has integrated the following instruments into its database: Close Ended Funds, Investment/Income Trusts or Listed Investment Companies, Exchange Traded Funds, Principal Protected Notes, Real Estate Investment Trusts, Split Capital Trust or Split Share …
Category:RDR-CorporateActions, Reference Data Review
Reuters has entered a deal to make itscorporateactionsdata, from the DataScope Pricing & Reference Data service, available via Xcitek’s XSP. This data is now available from Reuters in the ISO 15022 format. According to Caroline O’Shaughnessy, head of third party alliances for Reuters DataScope, Reuters “has made a priority of, and is making a significant ongoing investment in,corporateactionsdata…”
Category:RDR-CorporateActions, Reference Data Review
… up with the CDS, a subsidiary of The Canadian Depository for Securities, to integrate CDS’scorporateactionsand entitlements data into the GoldenSource Securities & Products software. For Goldensource, the deal extends its offering to financial institutions with Canadian operations or interests, while offering the CDS another route to market. Thecorporateactionsdata is formatted in the ISO 15022 standard, for ease of integration.
Category:RDR-CorporateActions, Reference Data Review
… custodian banks for a new web-based system that automates the creation, delivery and tracking ofcorporateactionsliability notices. The snappily titled Smart/Track forCorporateActionsLiability Notification Service will be in a pilot phase until the end of January 2005, and will then enter full production on February 1.
There are estimated to be over 15,000 voluntarycorporateactionsliability notices sent out each month. According to Margaret Koontz, vice president of DTCC product …
Category:RDR-CorporateActions, Reference Data Review
Telekurs has addedcorporateactionsdata covering the European and Australasian markets, sourced from Financial Software Ltd.’s (FSL) capital gains tax solution, CGix. CGix, currently used by more than 50 U.K. financial institutions, will be delivered via the Telekurs iD platform.
Category:RDR-CorporateActions, Reference Data Review
Mondas has built an interface between its Radica CAPScorporateactionssolution and The Depository Trust & Clearing Corp. (DTCC’s) GlobalCorporateAction (GCA) Validation Service.
Category:RDR-CorporateActions, Reference Data Review
MEGACOR, Vermeg’s end-to-endcorporateactionssolution, has completed the Swiftnet Testing and Certification Service Proof of Concept (POC) project for ISO 15022corporateactionsmessages. MEGACOR has also been accredited, for the fifth consecutive year, with the SwiftReady Gold Label in thecorporateactionscategory.
Category:RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
CheckFree eVent, CheckFree Corporation’s automation and workflow solution forcorporateactionsprocessing, now interfaces with CDS INC’s ISO 15022 compliantcorporateactionsdata feed. CDS INC is a subsidiary of The Canadian Depository for Securities, and supplies Canadian equity and debt entitlements information. As a result of this joint effort, Canadian entitlement data for the automated processing ofcorporateactionsis available to financial institutions …
Category:RDR-CorporateActions, Reference Data Review
Corporateactionsprocessing firm Vermeg has secured a new client in the form of wealth services provider SEI Investments. SEI is in the process of implementing Vermeg’s Megacor system to provide thecorporateactionsmodule within its own Global Wealth Management Platform aimed at private clients. While being touted as the first U.S. deal for Vermeg, the client actually intends to implement …
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
Information Mosaic’s Cama application has been awarded theCorporateActionsSwiftReady label by Swift. Cama is the vendor’s end-to-end ISO 15022-compliantcorporateactionsautomation solution. To achieve the SwiftReady label, the product must prove its ability to handle the correct business flows for the ISO 15022CorporateAction messages and to adhere to Global Market Practice guidelines.
Category:RDR-CorporateActions, Reference Data Review
Think yourcorporateactionsservice is good enough? Try putting it through the paces of the CityCompass benchmarking process. Those systems and information service providers brave enough to do so and that passed the tough criteria were rewarded for their efforts with the new B.I.S.S. Gold Label accreditation.
The benchmarking process, now in its second year, evaluated seven systems vendors (Information …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… Financial Markets has extended its use of Asset Control’s data management platform to managecorporateactionsdata. Abbey chose to source itscorporateactionsdata, alongside pricing and reference data, from Telekurs Financial’s Valordata Feed (VDF). This feed was integrated into the Asset Control platform at Abbey using AC Plus’s existing feedhandler for VDF. This is the first phase of the “ACcorporateaction data feed project”, and part of a broader expansion plan for use of …
Category:RDR-CorporateActions, Reference Data Review
… (USA) has entered a strategic alliance with N-Tier Securities to integrate Telekurs’ TB IIcorporateactionsflat-file feed into N-Tier Securities’corporateactionsand STP software solutions. The joint solution has been tested and deployed by a New York-based broker/dealer and custodian. N-Tier is planning to extend its interface to Telekurs’ full compliment of Valordata Feed data, of which the TB II feed is a subset.
Category:RDR-CorporateActions, Reference Data Review
Credit Suisse First Boston has become the sixth company to sign up for the GlobalCorporateActionsValidation Service from the Depository Trust and Clearing Corporation (DTCC). Joseph Porcello, director of asset servicing for CSFB in the U.S., says, “By signing on to GCA Validation, we’re looking to eliminate the time-consuming, manual process of reconcilingcorporateaction announcements and streamline our operation globally.” Several other broker/dealers, banks and …
Category:RDR-CorporateActions, Reference Data Review
Harvard Management Company (HMC) has licensed the XSP v5corporateactionsplatform. HMC has also licensed XSP’s web-based eTRAN (Electronic Tracking Response and Notifications) and Swift ISO messaging modules for the notification and response capture of elections processing.
The XSP v5 platform is built around a service-oriented architecture (SOA), utilising Microsoft.Net components and web services for global enterprise-wide processing. Brendan …
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
Straight through processing and messaging specialist HelioGraph has hired Simon Strong to itscorporateactionsteam. He now has the post of eVent programme manager and is responsible for managing the development of the company’s eVentcorporateactionsproduct. Previously at TCA Consulting, Strong has worked in financial IT development and consultancy for over 15 years; he has experience of building business cases forcorporateactionssolu-tions as well as selecting and implementing …
… hedge fund advisor Polygon Investment Partners has licensed the XcitekSolutionsPlus’s XSPcorporateactionsprocessing platform. Polygon plans to interface XSP with the FundManager portfolio management system from Beauchamp Financial Technology. The global hedge fund is seeking to streamline itscorporateactionsprocess for optimal operational efficiency across its London and New York offices. According to Manuel Guerrero, head of operations at Polygon, XcitekSolutionsPlus’s …
Category:RDR-CorporateActions, Reference Data Review
… EventsData and BondSource. EventsData provides unified web-based access to a combination of globalcorporateactionsdata across Mergent’s multiple databases. Thecorporateactionscovered include mergers and acquisitions, bankruptcies, securities listings and delistings, EPS updates, liquidations, stock splits and reverse stock splits, spin-offs, redemptions, reorganizations, ticker symbol changes and more. The service incorporates the Historical Securities Database (HSD), a 30-year …
Category:RDR-CorporateActions, Reference Data Review
Exchange Data International (EDI), a provider ofcorporateactionsand reference data, announced today that itscorporateactionsdata team had created over 5 millioncorporateactionsrecords in 2009 which is an astonishing volume of 20,800 records a day.
EDI has been providing globalcorporateactionson equities through its WorldwideCorporateActionsfor the past 7 years. Since 2009 EDI has also provided comprehensive information on …
Category:RDR-CorporateActions, RDR-Data Vendors & Services , Reference Data Review
… clearing and settlement recommendations issued by the Giovannini Group, including one regardingcorporateactions. The group – headed by Michael Kempe, a manager at U.K. depository Crest – expects to report on its findings in the fourth quarter of 2004.
Category:RDR-CorporateActions, Reference Data Review
… Bureau van Dijk Electronic Publishing (BvDEP) has selected Exchange Data International to supplycorporateactionsdata for the latest version of its Osiris company database. The deal brings EDI’s WorldwideCorporateActions(WCA) feed to a new audience of front-officecorporatefinance users; its traditional marketplace is in the back-officecorporatefinance area. WCA will give Osiris users access tocorporateactionsand dividend information on listed companies globally.
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
Thomson Reuters today announced the expansion of itscorporateactionsdata coverage to include Bosnia and Herzegovina, Ivory Coast, Kazakhstan, Macedonia, Russia, and Serbia. The extended offering increases transparency and access to some of the world’s fastest growing emerging markets by providing details on total shares, capital changes, dividends, voting rights and nominal values accessible through Thomson Reuters DataScope Select.
Thomson …
Category:RDR-CorporateActions, Reference Data Review
… Services has completed a pilot of Announcement Capture, a new service which captures globalcorporateactionsannouncements from multiple sources and generates a “golden record” for client reporting purposes.
Announcement Capture is part of JPMorgan’s global STP programme to standardise, consolidate and deliver timely, comprehensive and accuratecorporateactionsannouncement information to clients.
The service collects and compares globalcorporateactionsannouncements from …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
XSP, a leading global provider ofCorporateActionssoftware, announced today new benchmark performance figures for its already-powerful XSP v5CorporateActionsplatform with gains as high as 8,500% in its Data Management & Scrubbing module; over 2,500% in its Notifications component and a 3,200% increase in processing lottery events. These statistics further demonstrate the substantial performance enhancements that the XSP …
Category:RDR-CorporateActions, Reference Data Review
XSP’s v5 platform has achieved the SwiftReadyCorporateActionsLabel accreditation for 2008 in conjunction with Microsoft BizTalk Accelerator for Swift, the SwiftReady Financial Enterprise Application Integration (EAI) product. This is the fourth consecutive year that XSP has received this accreditation.
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… institution has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM)CorporateActionssolution to create a global utility forcorporateactionsprocessing.
According to the vendor, the bank is already an existing SmartStream TLM customer and will use TLMCorporateActionsfor its global wealth management and institutional business units. At the same time the firm is expanding its use of TLM Reconciliations to replace existing solutions at the bank. The bank …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Bear Stearns has signed a two-year agreement for access to Fidelity ActionsXchange’scorporateactionsdata and processing solution. The big U.S. investment bank will implement the Fidelity service in support of its global equities and fixed-income operations.
Boston-based Fidelity ActionsXchange, a subsidiary of Fidelity Capital, will provide Bear Stearns with access to its proprietary platform for processingcorporateactionsdata. As part of the deal, Bear Stearns will …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… London Stock Exchange refutes the suggestion that its new pricing policy for subscriptions to itscorporateactionsdata by distributors is simply an attempt to extract more revenues from data vendors. According to Mark Husler, head of reference data at the exchange, the new policy, due to take effect in April 2007, is the result of a desire “to change a model that was confusing, to make it clearer and fairer going forward, and to enable smaller vendors to get more cost effective access to …
Category:RDR-CorporateActions, Reference Data Review
Texas-based broker-dealer Southwest Securities has selected XSP to automate itscorporateactionsprocessing. As a result of the deal, the firm will roll out the XSP data management module and XSP’s Electronic Tracking Response and Notifications (eTRAN) module for automated notification, response capture and elections processing.
Brendan Farrell, CEO at XSP, explains that the vendor has been in discussions with Southwest Securities for the past 18 months. “They needed …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Williams de Broe will use Mondas’ Radica CAPScorporateactionsautomation platform and its Election Management Portal under a five-year licensing, services and support deal valued at around £350,000. The U.K. stock broker’s decision followed a lengthy evaluations process involving several vendors. The deal makes Williams de Broe the second client to adopt the new web-based version of EMP, which automates the election process for …
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
… completed testing of ISO messages submitted by its flagship software, XSP, to Swift’sCorporateActionsTest and Certification Proof of Concept (POC) programme. In an effort to improve the quality of FINCorporateActionsmessages and overall STP, the Swift POC tested the validity of ISO messages submitted by participants to comply with market practice as defined by the SMPG.
Category:0-Service , A-Team Classic , RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
… APG Algemene Pensioen Groep NV, APG Investments US Inc, has signed up for US domestic fixed incomecorporateactionsinformation from Fidelity ActionsXchange, via its ActionService product. APG Investments US Inc is the wholly owned subsidiary of APG Algemene Pensioen Groep NV, which provides asset management services to Dutch-based Stichting Pensioenfonds ABP. ActionService, which competes in thecorporateactionsprocessing market with the DTCC’s GlobalCorporateActionsValidation …
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
CheckFree Corp. has developed an ISO 15022-compliant interface to FT Interactive Data’scorporateactionsdata feed for its eVentcorporateactionsprocessing platform. As a result, eVent clients will be able to receive, process and sharecorporateactionsdata without the need to convert to and from proprietary formats.
Category:RDR-CorporateActions, RDR-Data Vendors & Services , Reference Data Review
… has completed the first phase of integrating the ISO 15022 messaging protocol with itscorporateactionsdata services. The company expects to start offering clients test data by the end of the first quarter, with the first phase covering cash dividends, stock dividends, dividend options and dividend reinvestment plans. Subsequent phases will cover capital changes, including rights issues, stock splits and bonus issues.
Category:RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
NewSouth Capital Management has implemented the newly enhanced version of AdventCorporateActions(ACA) from Advent Software, as well as migrating to Advent Portfolio Exchange (APX).
NewSouth Capital Management, which manages approximately
$1.4 billion in assets, has been a client of Advent Software since June 1986, when it was one of Advent’s first 100 clients to use Axys, its original portfolio accounting product, Qube, a CRM module, and ACA for the collection of …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Following a period of extended pilot testing, Butterlink is launching the latest version of itscorporateactionsutility in the hopes of attracting the necessary volume of clients for the free service.
Butterlink, formed by a number ofcorporateactionsspecialists back in 2004, has so far signed up 117 users at 53 financial institutions, including Morgan Stanley and Mizhuo International for thecorporateactionssystem. It hopes to convert these to active users.
The utility aims …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
The move towardscorporateaction automation is gaining momentum as firms come to accept that this is a key area and substantial gains can be made, according to a survey conducted in April and May by CityIQ on behalf of Swift and Smartstream.
Over 50% of firms interviewed place greatest reliance on custodians, sub-custodians and settlement agents as their main source ofcorporateactionsannouncements. This …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
The Depository Trust & Clearing Corporation (DTCC) launch of its GlobalCorporateAction (GCA) validation service at the beginning of the month will “reinvent the waycorporateaction announcements are managed” through the elimination of redundant operations and technology.
The development of the service could, if widely adopted, spell bad news for some of the players in the market forcorporateaction automation software, which a recent survey shows is already …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Telekurs Financial is gearing up for the production release next month of ISO 15022-formattedcorporateactionsdata as part of the Swift initiative to bring third-party data vendors onto its Swiftnet network. Telekurs released test data for the ISO 15022 service to clients in January; the company confirmed its roll-out plans at a client briefing late last month.
The ISO 15022 standard governs delivery format for a range of information types, includingcorporateactionsor events, …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
DTCC is working to create a new XML based format for delivery ofcorporateactionsannouncement information via its GlobalCorporateAction Validation Service (GCA VS), scheduled for roll-out in early 2008. DTCC currently provides data in its own proprietary format and in ISO 15022. The inadequacy of the 15022 format for its purposes is one of the factors that has prompted it to migrate its proprietary format to XML and it is, it says, making ISO aware of its …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
ADP’s Brokerage Services Group (BSG) has launched an automatedcorporateactionsprocessing system based on XcitekSolutionsPlus’s XSP platform. The new system is part of BPS’s back-office processing offering, and features a data-scrubbing engine for exception-handling. The engine compares announcement data from multiple sources and identifies exceptions, publishing them to BPS and offering managers an overall view of their status via a brower user …
Category:RDR-Client Implementations , RDR-CorporateActions, Reference Data Review
Paul Fullam, principal consultant at XSP, has been appointed as a co-chair of the ISITCCorporateActionsWorking Group. In this position, he will collaborate with the group’s members to review ISO 15022 standards and direct enhancements to message content that promote the straight-through processing ofcorporateactions. Fullam has been an active participant of the ISITCCorporateActionsWorking Group since 2005. At XSP, he is responsible for ensuring product compliance with …
Category:RDR-CorporateActions, RDR-Data Vendors & Services , Reference Data Review
XSP, the leading global provider ofCorporateActionsprocessing software, announced today that it is working with the Australian Securities Exchange (ASX) to take delivery and process its ReferencePoint™CorporateActionsdata product through the XSP™ v5 platform.
The XSP v5 platform is a state-of-the-art solution developed to automate each step of the globalCorporateActionsprocess. From Data Management and Scrubbing to …
Category:RDR-CorporateActions, Reference Data Review
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Corporateactionshas been a popular topic of discussion over the last few months, with the DTCC’s plans for XBRL and ISO interoperability, as well as the launch of Swift’s new self-testing service forcorporateactionsmessaging, STaQS, among others. However, it has not been a good start to the year for many of thecorporateactionsprocessing vendors and the market is reflecting the general …
Category:0-Service , A-Team Delivery Terms , A-Team Free , A-Team Insight , Free Member Benefits , RDR-CorporateActions, RESE-Reference Data Research , RESE-Special Report Supplements , RESZ-By Type , Reference Data Review , Research
The lack of an explicit regulatory imperative to address the efficiency ofcorporateactionsprocessing is often cited as a reason for the industry’s lack of progress towards this goal. While it’s true that efforts like Giovannini do includecorporateactions, there is no specific directive or legislation that demands firms meet a standard forcorporateactionsSTP. And there is also some confusion about the implications of different industry-wide efforts to effect …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… services and systems in the financial services sector, has launched four new awards for the bestcorporateactionssystems for broker/dealers, asset managers, custodians and overall sector winner. The awards will run in parallel to the existing B.I.S.S. Accreditation process forcorporateactionssystems. Gary Wright, CEO, B.I.S.S. Research, says: “Over the many years of benchmarkingcorporateactionssystems we have collated a huge data bank of information that details the true capability …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Despite a myriad of available software solutions aimed at automatingcorporateactionsprocessing, industry participants can relish the prospect of unreliable data and manually intensive processing for some time to come.
That’s among the findings of new research from TowerGroup that suggests thatcorporateactionsprocessing remains one of the major roadblocks standing in the way of the industry achieving straight-through-processing (STP) and the operating …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Xcitek, a provider ofcorporateactionsdata and management software, is reshuffling its sales, client services and marketing groups, and has plans to hire several new sales and sales support staff. Thecorporaterealignment is cited as a response to growing demand for the company’s XSPcorporateactionssystems and services.
According to Brendan Farrell, managing partner, the company plans to “pour financial …
… white paper discussion document, sits alongside similar ventures for real-time market data and forcorporateactions, the latter via a tie-in with Depository Trust & Clearing Corp. (DTCC).
Thiscorporateactionsinitiative – labeled GlobalCorporateActions(GCA) Validation Service – has been “a good way to get our feet wet,” according to Bill Cline, head of capital markets at Accenture. He adds that GCA now boasts five, boasting three stand-alone clients, and will with a number …
Category:0-Service , A-Team Classic , RDR-CorporateActions, RDR-Enterprise Data Management , Reference Data Review
Paul Fullam, principal consultant at XSP, has been appointed as a co-chair of the ISITCCorporateActionsWorking Group. In this position he will collaborate with the group’s members to review ISO 15022 standards and direct enhancements to message content that promote the straight-through processing ofcorporateactions. Fullam has been an active participant of the ISITCCorporateActionsWorking Group since 2005.
At XSP, Fullam is responsible for ensuring product compliance …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
XSP, a global provider ofcorporateactionssoftware, announced today that a leading global asset manager, a business within one of the world’s largest global financial services firms, has selected the XSP v5 solution for automated globalcorporateactionsprocessing. With processing centres located in Pittsburgh and San Francisco, the client will implement the XSP v5 platform within itscorporateactionsgroup.
Interactive Data Pricing and Reference Data’s intra-daycorporateactionsdata is now available through XSP’s software platform. The service covers more than 40corporateactionsevent types, including mergers, tender offers, exchanges and rights offerings for US and Canadian listed/traded securities.
Interactive Data’s XcitekCorporateActionsService, formerly part of the same company as XSP but now owned by Interactive Data ( Reference Data …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Deutsche Börse has launched a new service aimed at providing bundled data about upcomingcorporateactionsand their impact on the exchange operator’s own indices. Dubbed IndexCorporateAction Forecast, the service aims to offer customers information on upcomingcorporateactionssuch as dividend payments, stock splits and spin-offs, including currency information, which may impact its DAX, DAXplus or DAXglobal index families.
Hartmut Graf, head of issuer data and analytics at …
… Pricing and Reference Data business has introduced in North America a new service for delivery ofcorporateactionsinformation to clients throughout the day. The service leverages Interactive Data’s acquisition of Xcitek earlier this year ( Reference Data Review, April 2007); intraday delivery ofcorporateactionsdata was already on the Xcitek product roadmap at the time of the deal.
Foreshadowing the launch of the intradaycorporateactionsservice, Ray D’Arcy, president of sales …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… XBRL US announced today the creation of a Stakeholder Group as a part of its Issuer to Investor:CorporateActionsinitiative, which was launched in May 2009, to improve the processing ofcorporateactionsdata in the U.S. Composed of key players from the industry, the U.S. Issuer to Investor Stakeholder Group will represent the needs of thecorporateactionsreporting and processing supply chain.
The Group will be divided into three subgroups - Issuers, Intermediaries and Investors - and …
Category:RDR-CorporateActions, Reference Data Review
Fidelity ActionsXchange, a provider of globalcorporateactionssolutions, today announced that Knight Clearing Services, a subsidiary of Knight Capital Group, has selected its ActionService platform to providecorporateactionsinformation, such ascorporatereorganisations, restructuring and mergers, to support the firm’s equity trading operation.
ActionsXchange is a wholly-owned subsidiary of Fidelity Investments and provides …
City Networks has signed a partnership agreement with XSP to offer an integratedcorporateactions, reconciliation and exception management solution. Under the new agreement, both City Networks and XSP will provide an integratedcorporateactionsand reconciliation solution to the financial market.
The offering combines City Networks’ Proactive range of exception management, business process management and real time KPI and KRI functionality and version 5 of XSP’s …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
BISS Research has launched a newcorporateactionsadvisory service aimed at providing financial services firms and vendors with information and recommendations about investing in the space. Gary Wright, CEO of the firm, says the advice will be based on its benchmarking endeavours and it will also be launching a series of training courses about thecorporateactionsmarket.
SmartStream Technologies has appointed Jeremy O’Dwyer to head its UKCorporateActionsteam in London, a newly created position to leverage SmartStream’s recent acquisition of Effective Solutions and to drive business development of its TLMcorporateactionsproduct. He brings more than 20 years of in-depth experience of the financial services marketplace from both the client and consultancy side.
For the past seven years, O’Dwyer has worked for the …
BNY Mellon Asset Servicing has enhanced itsCorporateActionsOnline Services offering with the launch of a new global web-based notification and response system. The upgrade - available via BNY Mellon Asset Servicing’s web-based information delivery and transaction platform - is designed to give clients greater flexibility for managingcorporateevents, such as tender offers, conversions, mergers, exchanges, maturities, called bonds, …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
An unnamed global broker dealer based in New York has licensed the XSP v5 platform for globalcorporateactionsprocessing and is also in the process of rolling out thecorporateactionssoftware provider’s web-based eTRAN (Electronic Tracking Response and Notifications) and XSP ISO messaging modules for automated notification, response capture and elections processing.
According to XSP, the client completed an extensive review of all available solutions in the marketplace before …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Corporateactionsmodels and processes are being ‘pushed’ by the current financial market activity, and the increasing focus on risk and regulations is having an immediate and clear impact on the business of managingcorporateactionsinformation, according to a panel of specialists at Wednesday’s FISD Issue Brief event in London.
According to Dean Hogan from JPMorgan Chase’s Global …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
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Rather than detracting attention away fromcorporateactionsautomation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccuratecorporateactionsdata has on their bottom lines as a result of the increased focus on risk management in the market as a whole.
This renewed focus on the basics of data …
Category:0-Service , A-Team Delivery Terms , A-Team Free , A-Team Insight , Free Member Benefits , RDR-CorporateActions, RESE-Reference Data Research , RESE-Special Report Supplements , RESZ-By Type , Reference Data Review , Research
… APG Algemene Pensioen Groep NV, APG Investments US Inc, has signed up for US domestic fixed incomecorporateactionsinformation from Fidelity ActionsXchange, via its ActionService product.
APG Investments US Inc is the wholly owned subsidiary of APG Algemene Pensioen Groep NV, which provides asset management services to Dutch-based Stichting Pensioenfonds ABP.
ActionService, which competes in thecorporateactionsprocessing market with the DTCC’s GlobalCorporateActionsValidation …
XSP, a provider ofcorporateactionssoftware, announced today that a leading investment manager, a Fortune 100 financial services company, has selected the XSP v5 platform to automate itscorporateactionsprocessing. With headquarters in New York, the client will implement most of the XSP processing modules including Data Management & Scrubbing, Notifications & Responses, Entitlement Management, Standing …
… notifications have been automated, there are still many areas to be tackled in the processing ofcorporateactions, according to the results of CityIQ’s recentcorporateactionssurvey. Moreover, automation is not the end state for efficiency in the space: adherence to market practices and greater standardisation are vital for the future, says Paul Wiltshire, managing director of CityIQ.
Commenting on the most important finding of the survey, Wiltshire says: “It provides proof, if …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… Implementation Group (UKMIG) is aiming to harmonise U.K. national rules and practices relating tocorporateactionsprocessing, including distributions, shareholder rights and company reorganisations. The group, jointly chaired by the British Bankers’ Association (BBA) and CrestCo, is aiming to implement measures to remove Barrier 3, as set by the 2003 report from the Giovannini Group. The U.K.’s Department of Trade and Industry, Financial Services Authority (FSA) and the Bank of England …
Category:RDR-CorporateActions, RDR-Regulation and Compliance , Reference Data Review
Reuters has added an enhancement to Reuters DataScope Select which will see itscorporateactionsdata updated hourly, rather than once a day. Users will be able to monitor portfolios more actively by choosing how often they receive updates and paying according to the quantity of data they use. Reuters clients will now be able to monitorcorporateactionsdata on an hourly basis, enabling them to keep up to date with information drawn from over 50,000 companies in over 70 …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… Telecommunication (Swift) is opening up access to its network to third-party providers ofcorporateactionsdata. While Swift already carriescorporateactionsmessages, the move represents the first time commercial data suppliers can distribute theircorporateactionsservices via the network.
Bowing to pressure from its financial services clients, Swift has approached the leading suppliers ofcorporateactionsdata about distributing their services via the Swift network. Among …
Category:0-Service , A-Team Classic , RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
… released plans automate the messages it receives from issuers and to introduce a record date forcorporateactionsin the Swiss market by November next year. The plans are part of a wider project launched by Swiss Financial Market Services (SFMS) to promote automation in the domestic securities industry.
The Swiss CSD’s plans for the automation of issuer communications will bring the domestic infrastructure into line with the European standards for the harmonisation of entitlements. To …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Despite the efforts of industry groups and standardisers in recent years, the job of processingcorporateactionsis getting harder, not easier. Greater levels of international investment and the growing complexity of the products in which clients are investing are key reasons for this, suggested Justin Chapman, senior vice president at Northern Trust, during a panel session on the globalisation ofcorporateactionsat Swift’s Sibos conference in Boston earlier this month.
Fellow …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… (RDUG) used last month’s Finexpo 2004 conference in London to outline new initiatives in thecorporateactionsarea. Kirby said the industry group was looking atcorporateactionsas a possible area for new activity.
In a wide-ranging presentation to industry participants at the event, Kirby underscored the importance of accurate handling ofcorporateactions. “Misinformation, at a minimum, may cause customer service issues or, even worse, huge losses through claims, if an event is …
Swift’scorporateactionsmessage testing service, launched in April this year, has gained significant backing from the custodian community, says Max Mansur, senior product and markets manager at Swift. The Simulation Test and Qualification Service (STaQS) allows Swift’s customers to see how their usage ofcorporateaction messages compares to market practice guidelines established by global and local …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… Trust & Clearing Corp. (DTCC) continues to push its proposals for the transformation ofcorporateaction processing with the release of a blueprint plan that includes proposals for the development of centralised data cleansing and hub-based messaging.
Earlier this year, the DTCC launched its GlobalCorporateAction (GCA) validation service (see RDR, June) as a centralised “industry utility” providing an automated, centralised source of scrubbedcorporateaction announcement …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s GlobalCorporateAction Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS.
Susan Spivey, head of sales for GCA, says DTCC has had a long-standing relationship with Penson, as a member of its clearing and settlement organisations. “Penson was …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
TheCorporateActionsJoint Working Group has done its best to find “the best future market practices irrespective of the current models being used in the market today”, said Werner Frey, chairman of the European Securities Services Forum (ESSF), to delegates to last month’s Sifma Clearing and Settlement Conference in London. Frey and some of the members of the working group provided details of …
Category:A-Team Delivery Terms , A-Team Free , RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
… and stockbroker, went live last month with an integrated STP solution using Telekurs Financial’scorporateactionsdata delivered via the ISO 15022-based Valordata feed delivered to Mondas’ Radica Capscorporateactionsprocessing software.
With this web-based solution, Brewin Dolphin can select securities on a daily basis for same-day delivery by Telekurs with elections and transactions taking place in real time. The Radica Caps solution is run centrally and accessed via a browser, …
If further proof was needed thatcorporateactionsis big news for the vendor community at the moment, the entry of new contenders into the market is a sure sign that there are more profits to be squeezed out of the sector. Earlier this week, Broadridge Financial Services announced that it is launching a new fully managedcorporateactionsservice and cloud services specialist Xignite has also released a new web service aimed at …
… bank Marshall & Ilsley Corporation, has signed a multi-year renewal agreement for XSP’s v5corporateactionssolution. According to Wayne Klomstad, senior vice president of Marshall & Ilsley Trust Company, it decided to extend its agreement with the vendor to cover the eTRAN module because of the “value” it as seen from the solution thus far.
Klomstad is also happy with the level of client support the firm has received from the vendor since it signed up for the solution in …
With the opening up of the Swift network to vendors for delivery of theircorporateactionsdata, several data vendors have grabbed the opportunity and are in the process of launching ISO 15022-compliant data services. These developments are helping move the industry towards standardization and greater automation ofcorporateactions.
FT Interactive Data last week launched the first phase of its ISO 15022 service, which is being made available as an optional module …
Category:0-Service , A-Team Classic , RDR-CorporateActions, RDR-Data Vendors & Services , RDR-Standards & Industry Initiatives , Reference Data Review
After a fairly quiet year so far from the Fiservcorporateactionsteam, Sibos saw the launch of a newly enhanced version of its eVentcorporateactionsautomation solution. The upgrade is aimed at improving the flexibility of election and instruction processing and the notifications process with more customisable options, explains Geoff Harries, vice president of Investment Services at the vendor.
TheCorporateActionsJoint Working Group has finally released the results of its standardisation initiative, which is aimed at defining each category ofcorporateaction in the market in order to allow for the harmonisation of processing rules. The proposals have now been drawn up and they have been sent out to the various national market practice groups (NMPGs) for consultation, says Paul Bodart, …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
In what DTCC says is a significant boost for the international penetration of its GlobalCorporateActionsValidation Service (GCA VS), Abbey Financial Markets has gone live with the scrubbedcorporateactionsdata source, taking the ISO 15022-formatted feed directly into its trading system Global One. There are now 22 users of GCA VS, including Credit Suisse, JPMorgan Securities, Merrill Lynch, UBS and Raymond James.
Abbey Financial Markets’ ultimate aim is to automate the …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… Business Services (Ness IBS). The new version, FDE 4.5, includes features such as processing ofcorporateactions, dynamic creation and set-up of instruments and asset classes, enhanced data quality management and streamlined workflows for outsourced reference data and securities processing operations, the vendor says.
Category:0-Service , A-Team Classic , RDR-CorporateActions, RDR-Enterprise Data Management , Reference Data Review
… investment platform business, Macquarie Wrap, has launched a new online election service forcorporateactions. The aim of the new service is to expedite the processing ofcorporateactionsfor listed equities and improve the efficiency of advisers and their support staff, says Doug Chang, head of product for Macquarie Wrap.
The service is in response to client requests, says Chang: “We are constantly seeking feedback from advisers who use Macquarie Wrap and we aim to take action on …
… two years of revisions since the first draft was first released in October 2007, ISITC’sCorporateActionsWorking Group (CAWG) has finally released its best practice guidelines for thecorporateactionsmarket in the US. As the Securities Market Practice Group’s (SMPG) designated US market representative, the ISITC group has been charged with compiling, reviewing and amending these best practices, which cover the complete lifecycle of acorporateaction, from the notification of …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Standards & Industry Initiatives , Reference Data Review
An unnamed “large” French bank has selected XSP’s v5 platform to automate itscorporateactionsprocessing, according to the vendor. The bank will be rolling out the data management and scrubbing module, the notifications and responses module and the web-based eTRAN module for automated notifications, response capture and elections processing.
Brendan Farrell, CEO of the vendor, claims the eTRAN module in particular will make a significant difference to the process by …
… company’s name in August, the vendor formerly known as Coexis, GBST, has decided to join thecorporateactionsvendor community. As one of a number of new entrants this year into this already fairly well populated market, GBST is attempting to set itself apart by tailoring its solution to meet the needs of small and medium sized brokers, says Sunil Shah, chief executive of Global Broker Services for the vendor.
“It is our second or third attempt to enter thecorporateactionsmarket …
The innovation in the market and the high degree ofcorporaterestructuring going on across industries at the moment has meantcorporateactionshave become more frequent and much more complex, says Matthew Cox, head of securities data management in EMEA for BNY Mellon Asset Servicing. This, in turn, has meant that banks are being required to invest in their systems to process this data and improve the quality of the data to a more granular level. …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Regulation and Compliance , RDR-Risk Management , RDR-Standards & Industry Initiatives , Reference Data Review
… (TCS) has upgraded the platform underlying all of its capital markets solutions including itscorporateactionsoffering: TCS BαNCS forCorporateActions. Devesh Gupta, principal consultant for the vendor’scorporateactionssolutions, tells Reference Data Review the details of the version five upgrade and its three recent client wins.
The main focus of the upgrade was on improving the workflow tools for the solution, says Gupta, so that users of the data can have access to what they …
… speak to Reference Data Review about their proposition to provide low cost access to vitalcorporateactionsdata.
Xignite has been on the market data scene for some time providing on demand data via the web in a service oriented architecture (SOA) fashion. The venture is privately held but backed by investors Altos Ventures and Startup Capital Ventures and is based on the west coast of the US.
At the end of last month, Xignite launched itscorporateactionsoffering, which seeks …
… in London and Paris, has signed an agreement for Fidelity ActionsXchange to serve as its globalcorporateaction data partner. ActionsXchange will provide Natixis with cleansed domestic and international equity universecorporateaction information such as stock splits, dividends, and mergers and acquisitions that can impact a public company’s share price.
Category:RDR-CorporateActions, Reference Data Review
… The SEC has also this month taken the initiative with regards to educating investors aboutcorporateactionsevents and has amended proxy rules to allow electronic access to some of this data.
According to the regulator, the XBRL seminar will help answer frequently asked questions about the rules and technology requirements related to these data tags. SEC staff will therefore present information to helpcorporatefilers understand how to comply with the rules and provide an …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Regulation and Compliance , RDR-Risk Management , Reference Data Review
… Shinhan Aitas, part of the Shinhan Financial Group, has selected SmartStream Technologies’ TLMCorporateActionsto feedcorporateevents into its client reports. Kees Middendorp, senior consultant,corporateactions, for SmartStream Asia Pacific, explains that the administrator, which provides outsourcing services to fund managers in the region, selected the solution as part of a drive to expedite the time to market of these services.
Middendorp explains: “Shinhan wanted to increase …
Despite the downturn in the markets,corporateactionsautomation has not fallen off the industry radar, according to speakers at CityIQ and Swift’s London seminar at the end of October. Rather than driving down spending, a reduced tolerance for risk provoked by recent events could instead encourage increased investment incorporateactionsautomation in the coming months, attendees to the event were told.
Alan Parsons, product …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… to capitalise on this focus in data management with an upgrade of its benchmarking service forcorporateactionsvendors. For obvious reasons, risk management and STP have become key drivers for investment in the space (reducing headcounts and regulatory scrutiny being two such reasons), and BISS Research has duly added these factors to its benchmarking service.
Gary Wright, CEO of BISS Research, claims the service is “the only truly independent research company to focus on raising the …
XSP, a global provider ofcorporateactionssoftware, announced today that the Centre for Research in Security Prices (CRSP) at the Booth School of Business has selected the XSP v5 solution to automate itscorporateactionsprocessing. CRSP, a highly specialised provider of market data to hundreds of academic, commercial and government institutions for nearly 50 years, has signed a five year license with XSP to manage …
… 1 European bank has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM)CorporateActionssolution with a view to improving processing efficiency throughout thecorporateevent lifecycle and reduce risk. According to the vendor, the solution allows the bank to achieve automation in previously highly manual processes.
The bank’s operations in Hong Kong, which serve as a regional hub for Asia, sought to replace its existing manualcorporateevent processing with an …
… extreme volatility in the market over such a sustained period is exaggerating the risk profile ofcorporateactionsand this is not likely to change any time soon, he continued.
“The general trends in the market this year are a high level of capital markets activity, lots of rights issues, an uptick in mergers and acquisitions and the restructuring of a high number of debt instruments. This combined with the shark’s tooth volatility in the market will prove to be a real challenge for …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
SunGard has integrated XSP’s globalcorporateactionssoftware capabilities with its Phase3 multi-asset, multi-currency securities processing solution in a SunGard hosted application service provider (ASP) environment. Tony Scianna, executive vice president of SunGard’s brokerage and clearance business, explains that the integration was in response to requests from the vendors’ mutual client base.
“Mutual XSP and Phase3 …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Speculation that a sale of US-basedcorporateactionssoftware and data vendor Xcitek could be imminent is mounting. The provider has been rumoured to have been seeking a buyer for some time, with talk of a sale reaching a peak around October last year. Activity seemed to have slowed in the early part of 2007, but appears to have increased again in recent weeks.
A number of potential buyers are said to be or have been in the …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… appointment to the helm of Fidelity ActionsXchange, Laura Pollard indicates that the traditionallycorporateactionsfocused vendor is set to expand its reference data reach under her leadership. The vendor is considering expanding its data cleansing solutions to areas such as entity data and moving further down thecorporateactionsprocessing chain, Pollard and Deborah Culhane, chief operating officer at the vendor, tell Reference Data Review.
Pollard, a 19 year Fidelity veteran, took over …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Counterparty and Entity Data , RDR-Data Vendors & Services , RDR-Regulation and Compliance , RDR-Risk Management , RDR-Standards & Industry Initiatives , Reference Data Review
Corporateactionsprocessing is moving to centre stage in the minds of back office managers, in the same way that trading has been to the front office for a very long time.Corporateactionsprocessing is expensive in terms of human resources. There are persistent rumours that missedcorporateactionshave cost some banks dearly in compensation (although this is seldom confirmed by banks), making …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
XSP, a provider ofcorporateactionssoftware, announced today that it has moved to larger office space in London to support its growing staff and global client base. The new space – which is located at the same address, 68 King William Street – more than doubles the size of its previous office.
Neil Sheppard, managing director and chief operating officer of EMEA at XSP, said, “There was a clear need …
Reuters has added an enhancement to Reuters DataScope Select which will see itscorporateactionsdata updated hourly, rather than once a day. Users will be able to monitor portfolios more actively by choosing how often they receive updates and paying according to the quantity of data they use, Reuters says.
The release of the IntradayCorporateActionsService provides clients with access to Reuters’CorporateAction database on an hourly basis through DataScope Select, …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Lehman Brothers in London went live over the summer with ADP Wilco’s new UPMCorporateActionsplatform, the first client to implement the newly launched Wilco system. Lehman is using UPMCorporateActionsto manage its processing ofcorporateactionsdata globally, and will use additional modules of the system which Wilco plans to roll out in the next few weeks.
UPM – for Universal Processing Machine – processes notification events, and alerts interested parties …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
Buy side systems vendor Advent Software has signed an agreement with reference andcorporateactionsdata vendor Exchange Data International (EDI), under which EDI will provide worldwide equities and fixed incomecorporateactionsdata to Advent clients. The data will be provided to clients via AdventCorporateActions(ACA), Advent’s straight through processing service.
EDI is Advent’s third international data vendor available through ACA, which delivers customised, …
Aiming to bring control of its GlobalCorporateAction (GCA) Validation Service in-house and to improve the quality of itscorporateactionsdata, the DTCC has been developing its own platform to support the service, replacing existing Xcitek XSP technology. The new platform is scheduled to go live in September, according to sources.
A document outlining the DTCC’s development agenda says the new platform, which is currently …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
The recent uptick in thecorporateactionsworld has not gone unnoticed by the Depository Trust & Clearing Corporation (DTCC) and its GlobalCorporateActionsValidation Service (GCA VS) subsidiary is keen to steal a march on its rivals. Caroline O’Shaughnessy, vice president and global head of sales for Data Solutions, Asset Services, and Stuart Goldstein, managing director of DTCCcorporatecommunications, …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Counterparty and Entity Data , RDR-Data Vendors & Services , RDR-Regulation and Compliance , RDR-Risk Management , RDR-Standards & Industry Initiatives , Reference Data Review
Following its move into thecorporateactionsspace in November last year (see our coverage here ), GBST has bagged its first client in the form of agency brokerage and financial technology provider Investment Technology Group (ITG) and has a number of promising prospects in the Asian region poised to sign on the dotted line, says Donal O’Brien, who manages business development for GBST Global Broker Services. ITG is …
… will provide real-time responsiveness for back office processing and mitigate the risk of managingcorporateactions. ITG will deploy Syn~BackOffice and Syn~CorporateActions for these functions, which are being brought in-house for the first time.
ITG specialises in partnering with asset managers to provide cutting edge solutions ranging from pre-trade analysis to trade execution and post-trade evaluation. ITG selected Syn~ in order to standardise the back office settlement andcorporate…
… Bank has chosen GoldenSource Securities & Products to automate the creation of its golden copycorporateactionsnotifications. The Asian bank began looking for acorporateactionsvalidation solution in early 2008 and began talking to the vendor about the implementation before year end, explains Gert Raeves, senior vice president of strategic business development and marketing at GoldenSource.
“After a very strong growth period in its securities services business, Standard Chartered …
Following its implementation in London earlier this year, FTSE Group has gone live with the XSP v5CorporateActionsplatform in New York. The implementation is part of FTSE’s initiative to achieve an automated STP environment for the management ofcorporateaction events applied to FTSE indices, explains Chris Broad, chief operating officer at FTSE Group.
“The XSP v5 solution allows us to deliver this information to our worldwide clients in a timely manner. The XSP v5 solution helps us …
The Depository Trust & Clearing Corporation’s (DTCC) GlobalCorporateActions(GCA) business unit has launched a new web browser service that offers real-time access to its global, validatedcorporateaction database. Brett Lancaster, DTCC vice president of GCA, explains that the service is aimed at providing a low cost entry point to often expensivecorporateactionsdata.
According to the vendor, the GCA Browser provides a direct connection to the GCA …
… its rollout in both London and New York last year, FTSE Group has gone live with the XSP v5CorporateActionsplatform in a new location: Hong Kong. Thecorporateactionsprocessing platform now covers the indices provider’s Asian operations and Neil Sheppard, managing director and chief operating officer of EMEA for XSP, reckons this will provide them with the benefits of scalability.
Mark Gleeson, operations director at FTSE Group, explains the reasoning behind the decision: …
… is wholly on risk avoidance, Stephenie Brock, manager of technology and business solutions forcorporateactionsat HSBC Securities Services, told delegates to the CorpActions 2009 Europe conference. “Risk avoidance is in fact the cornerstone of the business at the moment,” she said, while speaking on the panel about data quality.
Risk is present in the misinterpretation of events or options, which can result in losses due to incorrect elections and late announcements, Brock …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… solution vendor SmartStream Technologies has upgraded its Transaction Lifecycle Management (TLM)CorporateActionssolution in order to realise cost savings and efficiencies by bringing it onto a common platform with the rest of its offerings. Paul Phillips, business development consultant at the vendor, explains to Reference Data Review that the upgrade has been ongoing for the last year.
“SmartStream took the decision to bring TLMCorporateActionsinto line with the rest of its …
XBRL for UScorporateactionswas the talk of Sibos this year (see here ) and it seems that the industry is gradually getting behind the idea, as Swift, the Depository Trust & Clearing Corporation (DTCC) and XBRL US continue to push forward with their initiative. This month, Sifma’s Asset Managers Forum (AMF)CorporateActionsCommittee demonstrated its support for the plan to automate the issuer to …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Data Vendors & Services , RDR-Standards & Industry Initiatives , Reference Data Review
Corporateactionsdata vendor Exchange Data International (EDI) and DPC Data, a data publishing and business process outsourcing company, have signed a joint marketing agreement, under which both vendors will provide their respective user bases with access to their data offerings. David Moore, EDI fixed income manager, explains that the vendor reckons the combination of bond reference data and …
… Group, a banking software solutions provider, to provide a service-based offering of the XSP v5CorporateActionsplatform to the Asian and Australian markets. Through this agreement, Decillion Group will market and support the XSP v5 software in a software as a service (SaaS) environment to help clients in the Asia Pacific region achieve straight through processing (STP) ofcorporateactionsevents.
The XSP v5 platform is built around a service oriented architecture (SOA), utilising …
Category:RDR-CorporateActions, RDR-Data Vendors & Services , Reference Data Review
… extreme volatility in the market over such a sustained period is exaggerating the risk profile ofcorporateactionsand this is not likely to change any time soon, he continued.
“The general trends in the market this year are a high level of capital markets activity, lots of rights issues, an uptick in mergers and acquisitions and the restructuring of a high number of debt instruments. This combined with the shark’s tooth volatility in the market will prove to be a real challenge for …
Category:0-Service , A-Team Classic , RDR-CorporateActions, Reference Data Review
… base and the opening plenary, which included many references to Swift’s recent successes in thecorporateactionsspace. Delegates to the event in Hong Kong therefore got the lowdown on the plans for a leaner, meaner Swift and were also reassured of the continuing importance of reference data to its core business.
Swift chairman Yawar Shah told delegates at the opening plenary: “Customer centricity and dialogue is key for our survival. It has been a year of traumatic change for your …
Category:0-Service , A-Team Insight , RDR-CorporateActions, RDR-Data Vendors & Services , RDR-Standards & Industry Initiatives , Reference Data Review
… US$1.04 billion in 2008. However, although it has also been a quiet year for the vendor on thecorporateactionssolution side of the business, things are picking up, Geoff Harries, vice president, product strategy, Investment Services at Fiserv, tells Reference Data Review.
Total revenue for the first nine months of 2009 was also down on last year with US$3.02 billion compared with US$3.55 billion in 2008, according to the vendor’s figures. The vendor’s best performance for the …
… to capitalise on this focus in data management with an upgrade of its benchmarking service for corporate actionsvendors. For obvious reasons, risk management and STP have become key drivers for investment in the space (reducing headcounts and regulatory scrutiny being two such reasons), and BISS Research has duly added these factors to its benchmarking service.
Gary Wright, CEO of BISS Research, claims the service is “the only truly independent research company to focus on raising the …
Category: 0-Service , A-Team Delivery Terms , A-Team Free , A-Team Insight , RDR-Blogs & Commentary , RDR-Corporate Actions , Reference Data Review