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

Macquarie Wrap Launches Online Election Service for Corporate Actions

Subscribe to our newsletter

Australian bank Macquarie’s investment platform business, Macquarie Wrap, has launched a new online election service for corporate actions. The aim of the new service is to expedite the processing of corporate actions for listed equities and improve the efficiency of advisers and their support staff, says Doug Chang, head of product for Macquarie Wrap.

The service is in response to client requests, says Chang: “We are constantly seeking feedback from advisers who use Macquarie Wrap and we aim to take action on their suggested improvements.” It is also part of the business’ ongoing focus on minimising equity administration and simplifying systems surrounding this area, he adds.

Users of the service are able to elect in bulk for corporate actions across multiple clients in a single click, says Chang. The system also provides email notifications and reminders aimed at improving workflow processes, thus removing the need for follow up by validating client elections as the adviser authorises them and improving the audit trail by maintaining election history online for 13 months.

The online service also provides a corporate actions calendar to notify advisers of upcoming and currently active corporate offers, matched against a list of their clients, using Macquarie Wrap, who are eligible to take part.

Investment firm Link Financial Services is already using the new service to add value to its client offering. Benjamin Kohn, director of the firm, explains: “The new online service from Macquarie Wrap is an excellent initiative that has allowed us to be more efficient and proactive in our communication of these events with our clients. Along with being able to transact with ease, the ability to track outstanding actions for clients is especially important as part of building on the service and support we can provide to them.”

This new offering is one of a number of new launches in the corporate actions space over the last few months. In June, Broadridge Financial Services and cloud services specialist Xignite both launched new offerings on the market in the form of Broadridge’s Global Corporate Actions Solution (GCAS) and XigniteCorporateActions.

Much like Macquarie Wrap’s new service, Xignite’s offering is also based on a web platform and seeks to appeal to the mid to lower end of the market. Given the tough economic climate, pitches to this corner of the market are likely to prove more popular than high cost, full scale implementations due to cost and time pressures. The logic behind this is that a web rollout can be effected relatively quickly and users can adopt a pay as you go approach to the service, thus allowing them to scale up or scale down as required.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to integrating legacy data with the cloud

Acceleration of cloud adoption, increasing demand for digital transformation and real-time data management have led financial institutions to rethink their data infrastructure to enable more agile operating models that can respond faster to change and make data a competitive advantage. For many, integrating data from legacy systems and data across the business landscape with a...

BLOG

FinScan Combines Data Quality Experience with Technological Expertise to Deliver Agile AML Solution

FinScan has combined experience in data quality with technological expertise in screening to provide an Anti-Money Laundering (AML) solution designed to help financial institutions develop more efficient AML programmes that generate fewer false positives and support better detection of true alerts. The company is part of Pittsburgh-based Innovative Systems, which was founded in 1968 and...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...