DTCC Releases First Drafts of ISO 20022 Corporate Actions Lifecycle Messages, Kirby Urges Firms to Provide Input
Following on from the release of its business case for the introduction of XBRL to the world of corporate actions last month, the Depository Trust & Clearing Corporation (DTCC) has finally released the first set of drafts for its new corporate actions messages, which are based on the ISO 20022 standard. The work is all...
DTCC Releases New ISO Messages to Help Automate Corporate Actions Processing
The Depository Trust & Clearing Corporation (DTCC) today announced the release for public comment of the first drafts of its new corporate actions messages to support the processing of the entire lifecycle of a corporate action including entitlements, elections and payments. In 2009, DTCC processed more than US$3 trillion in corporate actions, and the release...
XBRL Falls Off the US Regulatory Checklist, What Will This Mean for Data Management?
One of the stranger happenings during the lengthy US reform negotiation process was that a provision to require the use of Extensible Business Reporting Language (XBRL) for financial data reporting was unexpectedly struck from the financial regulation reform bill, which was passed this week. Given that XBRL is being touted as the next big thing...
XSP Launches ASP Global Corporate Actions Solution in AsiaPac
XSP, a vendor of corporate actions software, announced today that it has launched an application service provider (ASP) offering of its flagship XSP v5 corporate actions solution on the Decillion Group platform. Decillion Group, a banking software solutions provider and operator of the largest Swift Service Bureau in the AsiaPac region, formed a partnership with...
Interactive Data’s Net Income for the Second Quarter Drops 31.4%, But Reference Data Segment Remains Strong
The acquisition of Interactive Data by Silver Lake and Warburg Pincus is imminent, but it seems the private equity firms may have a job on their hands to rationalise costs and pull the data vendor back into the black. Following a disappointing first quarter, with a net income decrease of 7.6% from the previous year’s...
US SEC Asking for Feedback on Proxy Voting Proposals Including Data Tagging
The US Securities and Exchange Commission has just opened a 90 public comment period for consideration of its proposals to modernise the proxy voting system in the country by increasing electronic messaging and XBRL tagging. Last year, SEC chairman Mary Schapiro launched a comprehensive review of the US proxy system in order to determine a...
T2S Corporate Actions Working Group Raises Potential Processing Issues Within System
As noted by Reference Data Review back in April this year, the European Central Bank’s (ECB) Target2-Securities (T2S) settlement system could have a significant impact on the area of corporate actions and some progress has already been made by the Corporate Actions Sub-group (CASG) in defining the issues that need to be tackled in this...
Vermeg’s Settlement and Corporate Action systems Achieved 2008 SWIFTReady Label Accreditation
VERMEG, the accredited global securities processing software specialist announced today that Megara’s, MegaCustody and MegaCor modules have gained the prestigious Securities Settlement and Corporate Actions SWIFTReady labels for 2010. MegaCor achieved the certification having been assessed against numerous global market scenarios and MegaCustody against global market practices. The SWIFT certification report underlines the uniqueness of...
SmartStream’s North American Growth Continues with Toronto Office Opening and New York Expansion
SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced further investment across North America as it continues to win new clients in the region. SmartStream’s North American operations have experienced significant growth over recent years with leading US investment banks, hedge funds and asset managers becoming clients. This latest investment reflects both the company’s...
Broadridge Announces New Tax Forms Plus Solution
Broadridge Financial Solutions today announced the rollout of Tax Forms Plus, a new application providing automated tax form processing for securities broker-dealers throughout Canada. With the Tax Forms Plus system, the creation, amendment, duplication and cancellation of a client’s tax forms has been dramatically streamlined, simultaneously offering enhanced scalability, security and flexibility. In addition, the...