Saxo to Automate CA Processing With SmartStream TLM
Copenhagen-based Saxo Bank, provider of an online trading platform for foreign exchange, currency products and other securities, has purchased TLM Corporate Actions from SmartStream Technologies.
EDI Avoids LSE Policy Change By Generating UK CA Data Itself
Data vendor Exchange Data International (EDI) is to compete head to head with the London Stock Exchange on UK corporate actions data, in a move it positions as being a direct response to recent data pricing and distribution policy changes by the LSE. EDI has been a vocal critic of the changes affecting LSE’s corporate...
As Sale of Corporate Actions Specialist Xcitek Looks Likely Once More, Speculation Mounts as to Buyer
Speculation that a sale of US-based corporate actions software and data vendor Xcitek could be imminent is mounting. The provider has been rumoured to have been seeking a buyer for some time, with talk of a sale reaching a peak around October last year. Activity seemed to have slowed in the early part of 2007,...
Schroders Takes Citadel’s CADIS For Pricing and Analytics
Global asset manager Schroders plc is implementing Citadel Associates’ CADIS data management system for pricing and analytics. Schroders is the fourth investment manager to take CADIS in recent months, with others including AMVESCAP and the Canada Pension Plan Investment Board (Reference Data Review, November 2006). Robin Strong, Citadel’s head of sales and marketing for EMEA,...
Raymond James & Associates Takes DTCC’s Scrubbed CA Data
Raymond James & Associates has signed up for DTCC’s Global Corporate Action Validation Service (GCA VS), its centralised source of corporate actions announcements for equities and fixed income instruments traded in Europe, Asia-Pacific and the Americas. The firm becomes one of the more than 20 users of GCA VS, which in 2006 provided almost 900,000...
Xcitek Completes Swift Testing For Corporate Actions
Xcitek has successfully completed testing of ISO messages submitted by its flagship software, XSP, to Swift’s Corporate Actions Test and Certification Proof of Concept (POC) programme. In an effort to improve the quality of FIN Corporate Actions messages and overall STP, the Swift POC tested the validity of ISO messages submitted by participants to comply...
DTCC Develops XML Format For Corporate Actions Data
DTCC is working to create a new XML based format for delivery of corporate actions announcement information via its Global Corporate Action Validation Service (GCA VS), scheduled for roll-out in early 2008. DTCC currently provides data in its own proprietary format and in ISO 15022. The inadequacy of the 15022 format for its purposes is...
European Firms to Spend €€30m on CA Data Scrubbing by 2010
Financial institutions in Continental Europe spent some €200 million on internal and external corporate actions solutions in 2006, with 75 per cent of that spend going on inhouse development, according to a recent report from analyst Celent, Corporate Actions Automation in Continental Europe. Celent expects this proportion to decline to 55 per cent by 2010,...
HSBC Securities Services First Phase Live on CheckFree eVent
HSBC Securities Services (HSS) has implemented CheckFree’s eVent solution to deliver automated corporate actions processing for its investment administration clients. eVent is live for data cleansing and event capture, interfacing to data vendor feeds, static data sources and custodians for Swift messaging. Going forward, HSBC will roll out the eVent system to provide end to...
CicadaRisk Merged into New RiskGrid Unit Within Investors Guaranty
As predicted in Reference Data Review, October 2006, Investors Guaranty Group has launched a new risk management solutions unit, RiskGrid Technologies, into which the operations and technology of CicadaRisk has been merged. The group is also aligning RiskGrid Technologies within a suite of companies and solutions that comprise its financial services industry vertical. CicadaRisk was...