ITG Selects GBST Syn~ for European Installation of Model-based, Back Office Settlement and Corporate Actions Processing
GBST, a global provider of technology solutions to the financial services industry, today announced that Investment Technology Group (ITG), one of the world’s leading agency brokerage and financial technology providers has selected GBST Syn~ for its back office processing requirements in Europe. Syn~ will provide real-time responsiveness for back office processing and mitigate the risk...
Knight Selects Fidelity ActionsXchange to Provide Corporate Actions Intelligence
Fidelity ActionsXchange, a provider of global corporate actions solutions, today announced that Knight Clearing Services, a subsidiary of Knight Capital Group, has selected its ActionService platform to provide corporate actions information, such as corporate reorganisations, restructuring and mergers, to support the firm’s equity trading operation. ActionsXchange is a wholly-owned subsidiary of Fidelity Investments and provides...
Corporate Actions Data Increasing in Complexity and Frequency, Says BNY Mellon’s Cox
The innovation in the market and the high degree of corporate restructuring going on across industries at the moment has meant corporate actions have 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...
EDI Tracked Over 5 Million Corporate Actions in 2009
Exchange Data International (EDI), a provider of corporate actions and reference data, announced today that its corporate actions data team had created over 5 million corporate actions records in 2009 which is an astonishing volume of 20,800 records a day. EDI has been providing global corporate actions on equities through its Worldwide Corporate Actions for...
Thomson Reuters to Offer Securities Class Action Claims Filing Solution through PORTIA
Thomson Reuters today announced that it will offer securities class action claims filing capabilities as part of its enterprise-wide investment accounting system. The solution will be delivered in collaboration with Global Claims Filing Limited (GCF), a provider of securities class action data, research and claims filing services. Thomson Reuters PORTIA provides comprehensive investment accounting management...
SimCorp Proves Readiness to Process Swift ISO 20022 MX Messages
Swift and SimCorp have together successfully completed a proof of concept, which demonstrates that SimCorp Dimension, SimCorp’s solution for investment management businesses, can accept, process and transmit Swift ISO 20022 MX messages. MX messages are increasingly used in the securities industry, with adoption extending beyond Europe to Asia and the US. MX messages offer more...
Fiserv Overall Revenues Improve in Fourth Quarter, But Financial Segment is Down 4% for 2009
After a difficult third quarter, Fiserv has indicated that its overall financial prospects picked up in the fourth quarter of 2009, with a 2% increase in net revenue on the previous year’s figures at US$1.01 billion. This means that the vendor’s total adjusted revenue for the year was down 1% on 2008, from US$3.89 billion...
Many US Firms Getting Ready Early for XBRL and Considering its Use in the Wider Data Context, Says XBRL US Survey
Many US firms are taking action to get ready early for the introduction of XBRL tags for financial statements later this year, according to a recent survey by the American Institute of Certified Public Accountants (AICPA) and standards body XBRL US. A total of 73% of the 215 respondents had already begun their testing for...
IASC Foundation Issues IFRS Taxonomy for XBRL Format
The end of last year saw the publication of the International Accounting Standards Committee (IASC) Foundation’s International Financial Reporting Standards (IFRS) Taxonomy 2010 Architecture Draft, which details the XBRL architecture and design rationale for the taxonomy. The comment period on the draft has ended and the final release date for the taxonomy that will provide...
TCS Reports 10.3% Revenue Increase for Third Quarter of 2009
Tata Consultancy Services (TCS) may have lost a few of its key staff to other vendors in 2009, but it seems that staff turnover didn’t affect financial turnover for the quarter ending 31 December: the vendor experienced a 10.3% increase in revenue on the previous year’s figures. The vendor’s revenues were at US$1.64 billion for...