Point Nine, a provider of middle and back office trade processing and operations, has announced today that it is integrating its web-based operations platform with corporate action data provider FactEntry.
FactEntry provides corporate action data on credit instruments including name change, merger, coupon default, bond covenant details, credit events and recovery rate fixings for credit default swaps and collateralised debt obligations. All of the corporate action data is provided to the client with a detailed summary on the terms of an event and settlement timetable relevant to the corporate action.
The integration between Point Nine and FactEntry is in response to requirements for accurate and real-time corporate action data, with a particular emphasis on the credit and fixed income arena. The collaboration will help clients, who outsource their middle and back office operations to Point Nine, obtain critical corporate action information on a real-time basis.
The integration between FactEntry’s corporate action monitoring service, whose data feeds directly from the world’s major stock exchanges, and the Point Nine platform will allow the data to be transferred automatically, once a client goes live.
“As an extension of our client’s operations team, it is essential that we have the best tools available to mitigate the risk of miscalculations of assets. The alliance with FactEntry provides us with the most up to date corporate actions, independent of the custodian, enabling us to increase operational efficiencies for our clients,” says Pavlos Christoforou, chief technology officer of Point Nine. “We look forward to working with FactEntry and enhancing our current offering to our clients.”