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 Picks up Penson Canada For Corporate Actions Data

Subscribe to our newsletter

Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s Global Corporate Action Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS.

Susan Spivey, head of sales for GCA, says DTCC has had a long-standing relationship with Penson, as a member of its clearing and settlement organisations. “Penson was re-engineering its client web product and wanted to incorporate an outsourced corporate action announcement service,” she says. “Penson was looking to expand on its coverage on a global basis without increasing staff and infrastructure costs. We talked to Penson about what we could offer through GCA VS, and it found the service met its needs.”

DTCC expects Penson to go live with the service in June. “We are in the process of working out the technical issues and connections currently,” Spivey says. There is scope for Penson to expand its use of the data beyond Toronto to its operations in London and the US in the future, DTCC believes.

Spivey says DTCC already provides extensive Canadian corporate actions announcement data via GCA VS. “Canada ranks sixth in terms of the volumes of corporate actions received from the market,” she says. “Of course, GCA looks to leverage our strong relationships with other securities depositories, exchanges and other market infrastructures – particularly with our close friends up north,” she adds.

Terry Bourne, executive vice president and chief operating officer of Penson Financial Services Canada, says: “With GCA Validation Service we’ll be able to take advantage of multiple feeds that are checked against each other, along with the resources and experience of DTCC to help ensure the accuracy of the data. We expect it will free up resources, allowing us to focus on other areas where we can add significant value for our clients.”
Other clients recently added to the roster of GCA VS users include Raymond James (Reference Data Review, February 2007) and Abbey Financial Markets (Reference Data Review, March 2007).Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s Global Corporate Action Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS.

Susan Spivey, head of sales for GCA, says DTCC has had a long-standing relationship with Penson, as a member of its clearing and settlement organisations. “Penson was re-engineering its client web product and wanted to incorporate an outsourced corporate action announcement service,” she says. “Penson was looking to expand on its coverage on a global basis without increasing staff and infrastructure costs. We talked to Penson about what we could offer through GCA VS, and it found the service met its needs.”

DTCC expects Penson to go live with the service in June. “We are in the process of working out the technical issues and connections currently,” Spivey says. There is scope for Penson to expand its use of the data beyond Toronto to its operations in London and the US in the future, DTCC believes.

Spivey says DTCC already provides extensive Canadian corporate actions announcement data via GCA VS. “Canada ranks sixth in terms of the volumes of corporate actions received from the market,” she says. “Of course, GCA looks to leverage our strong relationships with other securities depositories, exchanges and other market infrastructures – particularly with our close friends up north,” she adds.

Terry Bourne, executive vice president and chief operating officer of Penson Financial Services Canada, says: “With GCA Validation Service we’ll be able to take advantage of multiple feeds that are checked against each other, along with the resources and experience of DTCC to help ensure the accuracy of the data. We expect it will free up resources, allowing us to focus on other areas where we can add significant value for our clients.”
Other clients recently added to the roster of GCA VS users include Raymond James (Reference Data Review, February 2007) and Abbey Financial Markets (Reference Data Review, March 2007).Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s Global Corporate Action Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS.

Susan Spivey, head of sales for GCA, says DTCC has had a long-standing relationship with Penson, as a member of its clearing and settlement organisations. “Penson was re-engineering its client web product and wanted to incorporate an outsourced corporate action announcement service,” she says. “Penson was looking to expand on its coverage on a global basis without increasing staff and infrastructure costs. We talked to Penson about what we could offer through GCA VS, and it found the service met its needs.”

DTCC expects Penson to go live with the service in June. “We are in the process of working out the technical issues and connections currently,” Spivey says. There is scope for Penson to expand its use of the data beyond Toronto to its operations in London and the US in the future, DTCC believes.

Spivey says DTCC already provides extensive Canadian corporate actions announcement data via GCA VS. “Canada ranks sixth in terms of the volumes of corporate actions received from the market,” she says. “Of course, GCA looks to leverage our strong relationships with other securities depositories, exchanges and other market infrastructures – particularly with our close friends up north,” she adds.

Terry Bourne, executive vice president and chief operating officer of Penson Financial Services Canada, says: “With GCA Validation Service we’ll be able to take advantage of multiple feeds that are checked against each other, along with the resources and experience of DTCC to help ensure the accuracy of the data. We expect it will free up resources, allowing us to focus on other areas where we can add significant value for our clients.”
Other clients recently added to the roster of GCA VS users include Raymond James (Reference Data Review, February 2007) and Abbey Financial Markets (Reference Data Review, March 2007).

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

Diginex Labour Rights Expert Acquisition Highlights ESG Data Shift to Risk

Sustainability data and RegTech provider Diginex’s recent acquisition of The Remedy Project labour and human rights advisory illustrates how ESG is transforming from an investment strategy to a risk mitigation objective among financial companies. The London-based company, which last year purchased sustainability data and analytics provider Matter DK, anticipates that the The Remedy Project’s expertise...

EVENT

Eagle Alpha Alternative Data Conference, London, 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

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...