IHS Markit is aiming to simplify and automate corporate actions by connecting its Corporate Action SaaS solution to DTCC’s ISO 20022 messaging platform. The connection will provide direct delivery of corporate actions ISO 20022 formatted messages from the DTCC platform to the IHS Markit solution, giving DTCC users improved straight through processing for corporate actions. The solution is due to begin rollout in Q4 2021.The connection uses existing DTCC SMART connectivity technology to offer a quick-to-implement and cost-effective corporate actions messaging flow, and a reduction in the risk and efforts associated with manual entry of elections into DTCC portals. Users will be able to completely automate the corporate actions workflow from announcement capture to instruction processing and final allocation.
Bidhu Rusia, director of product management for corporate actions at IHS Markit, comments: “This connectivity with a leading post-trade infrastructure provider is a next step in our quest to provide innovative technology solutions that help participants enhance efficiency and reduce risk in the corporate actions processing workflow. Enabling straight through processing automation for DTCC participant users, prospects and the wider industry is a priority for us.”