Corporate actions service provider Fidelity Enterprise Data Systems has re-branded itself as Fidelity ActionsXchange. Linda Stewart, president of the company said that the move “marks our arrival at a new stage in the development of the organisation”.
At the same time, the company, originally set up to service Fidelity Investments, said that it has formed partnerships with 22 global financial institutions since signing its first external customer in 1997. It now covers more than 1.3 million securities and last year processed more than 1.6 million corporate actions.
It recently launched an initiative to improve its timeliness for reporting and confirming announcements, and says that initial findings show an average improvement in confirmation time of three days.