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...
ADP Wilco Upgrades Its Gloss Securities Processing System
Automatic Data Processing’s Wilco unit has upgraded its Gloss international securities processing system. The latest version – Version 5 – includes extended instrument coverage and broader market connectivity. Gloss 5 now supports international fixed-income securities, repurchase agreements and stock lending. The system complies with upcoming mandatory changes to the Swift messaging format and now connects...
FT Interactive Adds Constituent Prices to iBoxx Service
FT Interactive Data is adding iBoxx constituent prices to complement the existing iBoxx indices that it has carried since 2001. The iBoxx indices and constituent pricing data are used by investors as a benchmark for European bonds. The vendor will now offer both intra-day for fund accounting and end-of-day for mainstream portfolio valuation purposes. The...
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...
The Interview: Full Circle for EDI
Nearly a decade ago, a licence to distribute London Stock Exchange started Exchange Data International down the data aggregation route. RDR reports on how far they’ve come A little over two years ago, the phrase reference data was pretty much unknown. Today it is in danger of becoming one of those tick-box capabilities that suppliers...
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)...
Valuelink Introduces Shares in Issue Service
Valuelink has extended its validated date service with the addition of a new Shares in Issue service, supplied either as a stand-alone service or as an additional data item within existing ValueLink services. This is the third new service that the company has introduced this year, adding to a Securities Masterfile service launched in May...
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...