Information Mosaic First to Achieve SwiftReady 2010 Certification for Corporate Actions and Securities Settlement
Information Mosaic, the global provider of post-trade automation solutions, is the first organisation to be awarded SwiftReady 2010 Certification for corporate actions and securities settlement. With the industry fast-moving towards ISO 20022 standards, Information Mosaic has already met the requirements of this year’s SwiftReady certification programme well ahead of the November 2010 deadline. “Information Mosaic’s...
Wolters Kluwer Focuses on ADRs, Global Coverage, XBRL and a System Redesign for 2010
Wolters Kluwer Financial Services will be spending a large part of 2010 focused on dealing with the complexities involved in the area of American Depositary Receipts (ADRs), explains Richard Ryndak, senior product manager for Capital Changes at the compliance solution provider. Accommodating changes to withholding tax regimes, work on the XBRL corporate actions project and...
September 2014 is Revised Deadline for T2S; New Directive Poses Potential Threat
As noted by Reference Data Review earlier this year, the launch of the European Central Bank’s (ECB) Target2-Securities (T2S) project has been delayed by at least a year due to a “longer than expected” development phase. Hugh Simpson, senior advisor to the T2S programme from Bourse Consult, told delegates to last week’s Xtrakter user conference that new...
DTCC and Swift Release First Drafts of Corporate Actions Announcement Messages
After a year of collaboration with Swift and XBRL US, the Depository Trust & Clearing Corporation (DTCC) has finally unveiled the first set of drafts of ISO 20022-based corporate action announcement messages, which are part of its corporate actions re-engineering initiative for the US market. According to the vendor, the move away from proprietary message...
BNP Paribas Fund Services Australasia Signs Multi-Year Proxy Services Agreement with Broadridge
Broadridge Financial Solutions today announced that BNP Paribas Fund Services Australasia Pty has signed a multi-year agreement to use Broadridge’s Global Proxy processing services for its clients in the Australasia region. BNP Paribas, already a user of Broadridge’s proxy processing services through its France-headquartered global securities services business, has now agreed to use the Broadridge...
Another One Jumps Ship at Fiserv: Hopcroft Joins XSP as Senior Sales Exec
Following the exit of ex-Investment Services head Geoff Harries and ex-marketing head Irene Mulkeen earlier this year, Fiserv has lost yet another corporate actions focused executive in the form of former sales exec Ben Hopcroft, who has joined eVent rival XSP. Hopcroft is now senior sales executive and account relationship manager for the EMEA region...
Fiserv’ Financial Institution Services Business Experiences 3.3% Revenue Decrease in First Quarter
Following on from the disappointing last quarter of 2009 for its Financial Institution Services business, Fiserv has yet again experienced a revenue decline for the division in the first quarter of this year. The business experienced a decline in revenue of 3.3% or US$16 million from US$488 million in the first quarter of 2009 to...
European Issuers Unconvinced of Benefits of Moving to XBRL, Says Capita Registrars’ Kempe
Just because there are market inefficiencies in the US that require the introduction of XBRL to be solved, doesn’t mean that Europe should follow suit, contended Michael Kempe, chief development officer for Capita Registrars, which looks after issuers in the UK and Irish markets. The European market is much less paper driven than the US...
Focus on Corporate Governance Could Prove a Boon for Proxy Voting Automation, Says Computershare’s Sarkar
The recent regulatory and market interest in the area of corporate governance could prove to be beneficial for the drive to further automate the proxy voting space, said Naz Sarkar, director of Computershare Investor Services, which provides online shareholder services. By calling for the voting process to be made easier and for more shareholders to...
Swift’s Mansur and DTCC’s Hands Champion Global Use of XBRL for Corporate Actions, Pilot to be Launched by Year End
What is good for the US market, could also be good for the rest of the world, contended Max Mansur, global market manager for Asset Servicing at Swift, and David Hands, director of asset services product management at DTCC Solutions, when speaking about the benefits of XBRL for the corporate actions market. The work going...