About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

DTCC and Broadridge Team Up to Automate Voluntary Corporate Action Instructions

Subscribe to our newsletter

DTCC subsidiary The Depository Trust Company (DTC) has enhanced its Reorganizations service to offer an automated process for submitting instructions for voluntary corporate actions in ISO 20022 format. The service is designed to replace manual submission processes and is expected to reduce risk associated with human error and provide cost savings for clients.

Broadridge Financial Solutions is the first fintech provider to connect to the service, which will allow members of both DTCC and Broadridge Global Asset Servicing Solutions to manage and execute corporate action instructions around time-sensitive events in a more streamlined and efficient way, increasing straight-through-processing rates and minimising the risks of manual instructions.

Broadridge services more than 60 DTCC corporate actions clients and will provide end-to-end integration with ISO 20022 messages for corporate actions lifecycle entitlements.

After a testing period is completed, Broadridge expects to go live with DTCC’s automated solution early this year. The company will continue to help DTCC with testing to support mutual clients’ needs, and identify process enhancements and the best path to implementation.

“This new offering for Broadridge’s Global Asset Servicing Solutions increases straight-through-processing rates for voluntary corporate action instructions from financial advisors to agents,” says Michael Wood, head of asset servicing at Broadridge.

In a separate joint effort, Broadridge and DTCC are evaluating ways to achieve data standardisation for equity corporate actions events. The aim is to achieve a golden copy record of corporate actions announcements sourced from issuers, which can be disseminated to all market participants.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Strategies, tools and techniques to extract value from unstructured data

Date: 12 September 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Unstructured data is voluminous, unwieldy and difficult to store and manage. For capital markets participants, it is also key to generating business insight, making better-informed decisions and delivering both internal and external value. Solving this dichotomy can be a...

BLOG

SIX Extends Provision of Fixed Income Data with Acquisition of Majority Share in FactEntry

SIX has acquired a majority stake in FactEntry, a global provider of fixed income reference data, analytics and solutions for financial market participants. The acquisition enhances SIX’s data offering and meets customer demand for the company to expand its global fixed income footprint. FactEntry’s fixed income data sets, including reference data and corporate actions, will...

EVENT

TradingTech Summit MENA

The inaugural TradingTech Summit MENA takes place in November and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions in the region.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...