Information Mosaic, the global provider of post-trade automation solutions, is the first organisation to be awarded SwiftReady 2010 Certification for corporate actions and securities settlement. With the industry fast-moving towards ISO 20022 standards, Information Mosaic has already met the requirements of this year’s SwiftReady certification programme well ahead of the November 2010 deadline.
“Information Mosaic’s drive and commitment to support standards and the SwiftReady programme is demonstrated by achieving SwiftReady 2010 certification in record time. The work Information Mosaic has done to prepare for the arrival of ISO 20022 means that its clients will be able to benefit quickly from Information Mosaic’s expertise and Swift’s services,” says Anthony Lavore, senior business development manager at Swift.
“We’re pleased that Swift has again awarded us SwiftReady status for corporate actions and securities settlement. It reinforces our commitment to continuous development and the work we are doing with clients to ensure they are best prepared to handle increased volumes of notifications, the need for greater transparency and the need to support customer demands,” says Manmohan Singh, head of product leadership, Information Mosaic. “We have a strong strategy for helping our clients take advantage of changes in standards and launching innovative new services. As one of the only vendors working with Swift to define the ISO 20022 messages, we are now in a prime position to ensure an easy transition from ISO 15022 to ISO 20022 messages for our clients – a move which will deliver great benefits to the industry by allowing for less ‘interpretation’ of notifications, leading to reduced errors and risk.”
This is the sixth year that Information Mosaic has achieved SwiftReady certification for corporate actions and the second year for securities settlement. Information Mosaic’s corporate actions solution automates the complete corporate actions life cycle, from announcement management and cleansing, to entitlements, notifications, elections and allocations. Under the SwiftReady 2010 certification, Information Mosaic has demonstrated its ability to process the full set of corporate action type notifications, and has proven its understanding and technical mapping of notifications to the Swift team.
The SwiftReady securities settlement label has been awarded to Information Mosaic’s post-trade operations platform which is a scalable, multi-entity and multi-currency solution that reduces risk and cost for all core post-trade services including asset servicing, securities settlement, trade, portfolio and cash management. This label reinforces Information Mosaic’s capability of supporting SwiftReady 2010 while providing the highest levels of straight through processing under market practice guidelines.