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 Automates Voluntary Corporate Actions Lifecycle

Subscribe to our newsletter

The Depository Trust & Clearing Corporation (DTCC) has made a further move to fully automate the corporate actions lifecycle with the processing of the US market’s first automated voluntary reorganisation ISO 20022 instruction. The process was carried out by DTCC subsidiary The Deposit Trust Company (DTC) using its newly automated voluntary reorganisation service, which is part of the company’s plan to help reduce the rising costs and risks associated with corporate actions.

The service was tested with Broadridge, which services more than 60 of DTCC’s corporate actions mutual clients, and provides the ability to manage and execute corporate action instructions around time-sensitive events in a more streamlined and efficient manner. DTCC processes over 600,000 reorganisation instructions each year.

Describing the automated voluntary reorganisation service as a ‘a major milestone’, Ann Marie Bria, executive director of asset services business management at DTCC, says: “Having end-to-end automation throughout the corporate actions lifecycle will allow the industry to use fixed data formats and a standardised set of rules, creating new efficiencies while reducing risks and costs.”

Broadridge gains the ability to automate the end-to-end corporate actions lifecycle for users of its cloud-hosted corporate actions solution by incorporating automated and integrated election instructions to DTC in ISO 20022 format. Michael Wood, head of asset servicing at the company, comments: “This service will increase STP rates on voluntary corporate actions, reduce risk associated with manual errors, and provide scalability and cost savings for the industry.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

Beyond the Pilot: Building Infrastructure for the Agentic Era

By David Sewell, Chief Technology Officer, Synechron. The fraud transaction takes milliseconds to clear. In that window, an agentic system has already queried three databases, cross-referenced two watchlists, and pinged the identity verification layer. It works – in the demo. Then the auditor asks where the decision log is, and nobody can find it, because...

EVENT

Eagle Alpha Alternative Data Conference, Fall, New York, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Entity Data Management Handbook – Second Edition

Entity data management is this year’s hot topic as financial firms focus on entity data to gain a better understanding of customers, improve risk management and meet regulatory compliance requirements. Data management programmes that enrich the Legal Entity Identifier with hierarchy data and links to other datasets can also add real value, including new business...