XBRL Announces Support for SEC’s IFRS Roadmap for US Public Companies
Originally appeared in MiFID Monitor XBRL International has publicly announced its support for the US Securities and Exchange Commission’s (SEC) proposed roadmap for the introduction of International Financial Reporting Standards (IFRS) for US companies, which was published on 14 November. The roadmap sets forth several milestones with a view to the introduction of IFRS, as...
SunGard Integrates XSP’s Corporate Actions Software with its Phase3 Solution in an ASP Environment
SunGard has integrated XSP’s global corporate actions software 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...
Corero Appoints Forsgren as Head of Sales
Following a difficult year in terms of performance and the departure of a number of senior executives, corporate actions solutions vendor Corero has decided to finish the year with a new head of sales: Mats Forsgren. He will be responsible for all sales activities globally with the Corero Financial Markets division and joins from Chris...
Industry Focus on Risk May Result in More Investment in Corporate Actions Automation, Says Swift and CityIQ Panel
Despite the downturn in the markets, corporate actions automation 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 in corporate actions automation in the...
Technology Investment Essential to Cope with Corporate Events Rapid Growth
With the explosive growth in corporate events – primarily due to the current restructuring of debt or refinancing – those financial institutions that have invested in technology and integrated data sets will be the best placed to cope with the increase in volumes, according to David Kane, senior vice president of securities and operations at...
ECB Has Potential to Deliver Issuer Prospectus Data Direct to Market, Suggests ECB’s Gross
Rather than going through a complex chain of interpretation by data vendors and internal processes, prospectus data should be made available in an electronic format directly to the market, suggested Francis Gross, head of the external statistics division at the European Central Bank (ECB). “This would require drastic changes to the current prospectus process and...
Asian Ops of Tier 1 European Bank Selects SmartStream’s TLM Corporate Actions
The Asian operations of a tier 1 European bank has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM) Corporate Actions solution with a view to improving processing efficiency throughout the corporate event 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...
StatPro Integrates Market Data Offering into CGI’s StarSource Managed Data Solution
IT and business process services provider CGI Group and portfolio analytics and data solution provider StatPro Group have partnered to integrate StatPro Market Data into CGI’s StarSource Managed Data Solution. Under the agreement, StatPro has become the primary supplier of pricing, corporate action and dividend information to CGI’s StarSource customers. StarSource is a component of...
Broadridge Financial Solutions Offers Proxy Statement Data in XBRL Format
Broadridge Financial Solutions has introduced an open source format for interactive proxy statements to XBRL US. Following the announcement earlier in the year by the Securities and Exchange Commission (SEC) that financial reporting statements should be made available in XBRL, the vendor has accordingly adapted its architecture in order to meet the requirements. The proxy...
US-based Bank Picks SmartStream TLM Corporate Actions
An unspecified US-based banking institution has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM) Corporate Actions solution to create a global utility for corporate actions processing. According to the vendor, the bank is already an existing SmartStream TLM customer and will use TLM Corporate Actions for its global wealth management and institutional business units. At the...