Loomis, Sayles & Company Implements CheckFree eVent For CA Announcement Capture from Custodians, Vendors
Boston-headquartered investment manager Loomis, Sayles & Company is automating its corporate actions processing with CheckFree eVent. The firm, predominantly a fixed income house with some $105 billion in assets under management, is already a user of CheckFree TradeFlow for settlement instruction processing of cash securities and FX. Loomis is currently in beta testing for the...
Association of Global Custodians Calls for Issuers to Join the ISO Party, Urges Members to Adopt ISO15022
The custodial bank community has often been blamed for ongoing inefficiencies in corporate actions processing as a result of supposed reluctance among custodians to adopt standardised messaging. The allegation has been that they would prefer asset managers to communicate with them via proprietary mechanisms, rather than using standardised ISO 15022 messages for corporate actions. Now...
DTCC Picks up Penson Canada For Corporate Actions Data
Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s Global Corporate Action Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS. Susan Spivey, head of...
Interactive Data Closes Acquisition Of Xcitek Market Data
Interactive Data Corporation has closed the acquisition of the assets comprising the market data division of Xcitek and the market data assets of its affiliate Xcitax for $25.3 million in cash (Reference Data Review, March and April 2007). As part of the initial integration efforts, Xcitek’s services will be marketed as Interactive Data Xcitek.
NewSouth Capitalises on Advent Corporate Actions Upgrade
NewSouth Capital Management has implemented the newly enhanced version of Advent Corporate Actions (ACA) from Advent Software, as well as migrating to Advent Portfolio Exchange (APX). NewSouth Capital Management, which manages approximately $1.4 billion in assets, has been a client of Advent Software since June 1986, when it was one of Advent’s first 100 clients...
Interactive Data to Acquire Xcitek Market Data Business for $25.3M
As predicted in Reference Data Review last month, Interactive Data Corporation has agreed to buy the market data division of Xcitek and the market data assets of its affiliate Xcitax for $25.3 million in cash. The acquisition does not include XcitekSolutionsPlus (XSP), the corporate actions software company affiliated with Xcitek, or Xcitek Consulting Services, both...
Euroclear Builds ISO 20022 CA Messages for Issuer to CSD Leg
Euroclear is building a set of ISO 20022 corporate actions messages for issuer to CSD communication, as part of its move to a single platform across all its markets and the implementation of its new Common Communications Interface. The new messages will replace existing proprietary electronic communication between issuers or issuers’ agents and the CSDs...
Abbey Financial Markets Live on DTCC Corporate Actions Data
In what DTCC says is a significant boost for the international penetration of its Global Corporate Actions Validation Service (GCA VS), Abbey Financial Markets has gone live with the scrubbed corporate actions data source, taking the ISO 15022-formatted feed directly into its trading system Global One. There are now 22 users of GCA VS, including...
Daiwa Securities Extends XSP Software Agreement with Xcitek
Daiwa Securities America has extended its XSP software agreement with Xcitek for corporate actions processing. The Japanese-owned broker/dealer, which implemented the application in 2004, has renewed its contract for another three years. Xcitek will also accelerate its delivery of the Swift Standards Release (SR) 2007 Upgrade for XSP to clients. Xcitek will be delivering its...
Vermeg Completes Swift Testing For Corporate Actions
MEGACOR, Vermeg’s end-to-end corporate actions solution, has completed the Swiftnet Testing and Certification Service Proof of Concept (POC) project for ISO 15022 corporate actions messages. MEGACOR has also been accredited, for the fifth consecutive year, with the SwiftReady Gold Label in the corporate actions category.