Buy side systems vendor Advent Software has signed an agreement with reference and corporate actions data vendor Exchange Data International (EDI), under which EDI will provide worldwide equities and fixed income corporate actions data to Advent clients. The data will be provided to clients via Advent Corporate Actions (ACA), Advent’s straight through processing service.
EDI is Advent’s third international data vendor available through ACA, which delivers customised, position level corporate action reports for a range of action and security types, along with market effective transactions for mandatory US equity and ADR events, including tax compliant details.
Alison Swabowicz, senior straight through processing product manager at Advent, explains: “Recently we have seen increased interest in international corporate action data; and as we’ve seen more clients diversify into international markets, it has become apparent the importance for Advent to maximise coverage across a wide range of countries and corporate action types.”
According to Advent, the service allows firms to track actions from announcement through effective date and receive alerts containing revisions and processing tips.
Kevin Brady, executive director for EDI, comments: “We are very excited about our new relationship with Advent, as it brings EDI’s data to a new audience.”