About a-team Marketing Services

A-Team Insight Blogs

B.I.S.S. CA Benchmarks Highlight Data Strengths of Vendor Systems

Subscribe to our newsletter

The findings of the 2006 B.I.S.S. Corporate Actions Benchmarking Report show that the systems of the four providers covered in detail – CheckFree, Information Mosaic, SmartStream and Tata Consultancy Services (TCS) – all score well in the data handling categories. B.I.S.S. Research confirms all these vendors have invested heavily in their systems and developed new functionality.

Information Mosaic’s is the highest aggregate scoring product in the benchmarking, which B.I.S.S. Research says demonstrates its all-round strength as a system for participants in all market sectors. The report highlights the fact that CheckFree eVent supports not only ISO 15022 standard messaging but also incorporates “off the shelf” interfaces to several leading data vendors, and can also be used to gather non-standard messages if the client’s business demands it. CheckFree’s Message Broker layer also enables eVent to support ISO20022 standard messages, which is how the product will handle proxy voting over Swift. CheckFree scored highest for the broker/dealer sector.

B.I.S.S. Research commends SmartStream’s TLM Corporate Actions for its “golden copy” functionality. “A key to any corporate actions system is the ability to find the ‘Golden Copy’, and in this area SmartStream has produced a very strong feature,” the report states. “There is a logical thought process which has been applied to finding a solution to the ‘Golden Copy’ target, where the system can be totally relied upon. Indeed this module can be of value to the market and a viable option to other vendors in this space. It could save buyers wasting money on over-hyped data scrubbing products,” it continues.

The number of completed sales of corporate actions systems has fallen in 2006, B.I.S.S. Research finds, with a number of sales due for completion last year that rolled into this year still not finalised. The research firm suggests this indicates a switch in priorities among financial services firms, likely driven by the increased focus on compliance created by regulation such as MiFID. That said, international sales have increased in 2006, outstripping the UK domestic market for the first time. All the vendors are improving the international functionality of their systems, B.I.S.S. Research says, and this growth in international interest plays particularly well for TCS which currently has the most advanced capabilities for the international market.
It is unlikely that any new corporate actions vendor can now enter what is a highly competitive market, B.I.S.S. Research contends. However, this shouldn’t present a problem for buyers, since each of the vendors has developed different functionality strengths in its product, creating a genuine differential for systems selection, the research company says.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: New opportunities to scale data operations

Faced with tough competition and ongoing pressure on margins, many firms are reviewing their operating models and assessing whether they can reallocate more resources to high-value projects by outsourcing commoditised processes including data operations. This webinar will explore the different approaches that buy-side and sell-side firms are adopting to scale their data operations, including market...

BLOG

Moody’s and Google Cloud Partner to Build Large Language Models and Generative AI Apps

Moody’s Corporation and Google Cloud have made a strategic partnership to explore a combination of Moody’s expertise in financial analysis and Google Cloud’s generative AI (gen AI) technologies to help Moody’s customers and employees use large language models (LLMs) to gain financial insights and summarise financial data faster. This is Moody’s second key partnership on...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...