Bloomberg Data Solutions and Information Mosaic executives today announced a strategic partnership to provide a new service that will streamline corporate actions processing and reduce operational risks and costs.
For the first time, financial institutions will be able to use the same Bloomberg corporate actions data for investment decisions in the front office, as well as in the middle and back office. Under the partnership, Bloomberg’s Corporate Actions Data License will be fully integrated with Information Mosaic’s enterprise solution IMActions, giving financial institutions an automated and streamlined system for straight through processing (STP) of corporate actions. The new solution includes Bloomberg data feeds and is the first that will integrate the new ISO 15022 messaging format, removing the need for bespoke integration work. By automatically feeding Bloomberg data into Information Mosaic’s down-stream processing solution IMActions, the joint service reduces operational risks and inefficiencies in post-trade processing.
“Corporate action processing is becoming increasingly complex, but this solution will reduce errors and enable a more accurate and simplified post-trade processing,” said Andrea Danese, Bloomberg’s global head of Data Solutions. “Bloomberg has the highest quality and most timely data and is available in 126 countries, providing access to more international markets than anyone else. Bloomberg’s data combined with Information Mosaic’s software creates the best possible solution available in the industry today.”
John Byrne, CEO at Information Mosaic, said, “Lower fees, heightened risk sensitivity and re-invigorated regulatory scrutiny have meant buy and sell side firms want to dramatically improve operational efficiency and mitigate risk, with corporate actions processing as a key priority. We are committed to partnering with the leading providers of corporate actions data.”