CSFB Latest Firm to Use DTCC’s Corporate Actions Service

Credit Suisse First Boston has become the sixth company to sign up for the Global Corporate Actions Validation Service from the Depository Trust and Clearing Corporation (DTCC). Joseph Porcello, director of asset servicing for CSFB in the U.S., says, “By signing on to GCA Validation, we’re looking to eliminate the time-consuming, manual process of reconciling corporate action announcements and streamline our operation globally.” Several other broker/dealers, banks and hedge funds are reportedly in negotiations with DTCC to start using the service, which provides a centralized source of cleansed corporate actions data, in coming months.