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A-Team Insight Blogs

Fidelity ActionsXchange Captures Corporate Actions Faster/Closer to Source

Fidelity ActionsXchange, a Fidelity Investments company and leading provider of global corporate actions and related security events, today introduced an enhanced version of its ActionService platform, which automates and customizes the delivery of corporate actions, such as stock splits and corporate restructurings, on more than 2.5 million securities to some of the world’s largest financial institutions.

Against a backdrop of ongoing market volatility, which has led to an increase in complex global corporate actions, ActionsXchange has introduced the Issuer Source announcement offering to capture corporate actions data closer to the original (issuer) source who generated the event. The offering will also collect and provide information from major North American stock exchanges as well as from corporate filings in the SEC’s EDGAR database(i), through which all corporate actions must initially be filed.

“The introduction of the Issuer Source announcement offering represents an evolution in the delivery of corporate actions data in terms of speed, accuracy and availability,” said Laura Pollard, executive vice president and head of Fidelity ActionsXchange. “Because we are now able to more effectively manage the inherent risks in complex corporate actions, our clients will have the critical information they need to make more informed and timely investment decisions on behalf of their firm and clients.”

In addition to ActionService, Fidelity ActionsXchange offers ActionCompare, a Web-based platform that combines the multi-sourced and validated data from ActionService with a client’s custodian or proprietary data. The company also recently expanded its notification of complementary events, such as prospectuses and annual meeting notifications, and automated the dissemination of required investor-level disclosures on behalf of its clients.

Fidelity ActionsXchange was formed in 1997 to offer corporate actions solutions to financial institutions. The company uses the same technology, operations, and expertise used by Fidelity Investments to achieve the highest quality performance in corporate actions and related events. Operating as an independent company, Fidelity ActionsXchange has completed more than 50 implementations partnering with major global financial institutions to support their corporate action needs.

“The need for timely and accurate corporate actions data has become even more important in today’s volatile market environment,” said Pollard. “To help our clients, we will continue to deliver innovative solutions, such as the Issuer Source announcement offering not only to ensure they have the information they need to make better investment decisions but also to enhance operational efficiencies, mitigate risk and meet their requirements for investor communications.”

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