Swift Opens Network to Vendors for Corporate Actions Data
The Society for Worldwide Interbank Financial Telecommunication (Swift) is opening up access to its network to third-party providers of corporate actions data. While Swift already carries corporate actions messages, the move represents the first time commercial data suppliers can distribute their corporate actions services via the network. Bowing to pressure from its financial services clients,...
Framlington Deploys Heliograph
Framlington, a U.K. investment management firm, has deployed the TradeFlow post-trade transactions management system from Heliograph, developer of the Evare corporate actions processing platform. The system will be used to replace a manual process for handling transaction information.
J.P. Morgan Securities Australia Opts for XcitekSolutionsPlus
J.P. Morgan Securities has gone live with the XSP corporate actions software from XctekSolutionsPlus at its Australian office. The firm already used XSP at its offices in London and Hong Kong. By adding Australia, J.P. Morgan is now able to process corporate actions electronically between the three operations. The result has been an increase in...
ADP Wilco Unveils Corporate Actions Platform for Global Event Notification at Lehman Brothers
Lehman Brothers in London went live over the summer with ADP Wilco’s new UPM Corporate Actions platform, the first client to implement the newly launched Wilco system. Lehman is using UPM Corporate Actions to manage its processing of corporate actions data globally, and will use additional modules of the system which Wilco plans to roll...
DTCC White Paper Offers Plan for Corporate Actions Process
The Depository Trust & Clearing Corp. (DTCC) continues to push its proposals for the transformation of corporate action processing with the release of a blueprint plan that includes proposals for the development of centralised data cleansing and hub-based messaging. Earlier this year, the DTCC launched its Global Corporate Action (GCA) validation service (see RDR, June)...
Wachovia Licenses Xcitek
Wachovia Corp. has licensed Xcitek CostBasis’s XCB solution to calculate cost allocation factors and tax opinions on corporate actions. XCB is an automated solution for supplying cost basis and tax data. Susan Lane, managing director, securities servicing, Wachovia, says the product is user-friendly and cost effective in supporting the bank’s trust account base. “It provided...
Corporate Actions Survey Shows Increasing Move to Automation
The move towards corporate action automation is gaining momentum as firms come to accept that this is a key area and substantial gains can be made, according to a survey conducted in April and May by CityIQ on behalf of Swift and Smartstream. Over 50% of firms interviewed place greatest reliance on custodians, sub-custodians and...
DTCC Throws Its Weight Behind Corporate Actions Processing
The Depository Trust & Clearing Corporation (DTCC) launch of its Global Corporate Action (GCA) validation service at the beginning of the month will “reinvent the way corporate action announcements are managed” through the elimination of redundant operations and technology. The development of the service could, if widely adopted, spell bad news for some of the...
Strong Hire for HelioGraph Corporate Actions Team
Straight through processing and messaging specialist HelioGraph has hired Simon Strong to its corporate actions team. He now has the post of eVent programme manager and is responsible for managing the development of the company’s eVent corporate actions product. Previously at TCA Consulting, Strong has worked in financial IT development and consultancy for over 15...
O’Dwyer Takes On UK Corporate Actions For SmartStream
SmartStream Technologies has appointed Jeremy O’Dwyer to head its UK Corporate Actions team in London, a newly created position to leverage SmartStream’s recent acquisition of Effective Solutions and to drive business development of its TLM corporate actions product. He brings more than 20 years of in-depth experience of the financial services marketplace from both the...