About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Standard Chartered Picks GoldenSource for Corporate Actions Golden Copy Creation

Subscribe to our newsletter

Standard Chartered Bank has chosen GoldenSource Securities & Products to automate the creation of its golden copy corporate actions notifications. The Asian bank began looking for a corporate actions validation solution in early 2008 and began talking to the vendor about the implementation before year end, explains Gert Raeves, senior vice president of strategic business development and marketing at GoldenSource.

“After a very strong growth period in its securities services business, Standard Chartered wanted to strengthen its ability to support more products and more customers in an increasingly competitive market,” Raeves elaborates. “This project is a key pillar of a revitalised target operating model to help the bank accommodate growth and differentiate its offering.”

Prior to its selection of the GoldenSource solution, Standard Chartered also evaluated the Asset Control offering, says Raeves. However, the bank finally selected GoldenSource on the strength of its reference data capabilities. Giles Elliott, global product head at Standard Chartered Securities Services, explains: “Standard Chartered Bank has chosen to partner with GoldenSource because we feel its Securities & Products solution offers the best mix of functionality, architecture and domain expertise.”

This initial implementation of the GoldenSource solution will provide clean, validated corporate actions announcements to Standard Chartered’s custody platforms. The bank hopes that the ability to deliver standardised data functionality across multiple markets will allow it to realise cost savings and efficiencies in the face of a tough market environment.

According to the vendor, the solution allows Standard Chartered Bank to combine its own in-house sourced corporate action announcements with those from data vendor sources in various formats including Swift ISO15022, and provides a cleansed and validated golden copy of each announcement to its core processing platforms.

“Corporate actions announcements are a critical and high risk part of our customers’ business processes. This enables us to offer a superior quality of service and grow our business in a very competitive marketplace,” adds Elliott.

Raeves explains that the implementation has already reached its first milestone: “The project has already met a first major milestone this week – it is in phase one – production mode already, with inbound data feeds from Reuters and custodians implemented. The next phase and major business benefit will be delivered in the next phase – integrating into the SCB environment, which is scheduled for end of May.”

The vendor has seen strong interest from the Asian market, according to Raeves, especially in the securities services and buy side sectors. For many vendors in the data management space, Asia represents a land of opportunity, as budgets in the US and Europe have been feeling the squeeze lately. Competition in these markets however, is very similar to that in the rest of the world, as there are very few mature local offerings for data management, says Raeves.

GoldenSource has been focusing its attention on the Asian market over recent months and in January, it appointed a new national sales manager for India: Shashank Mishra. The vendor is hopeful that Asia will continue to see growth in the IT sector despite the poor global economic climate.

Hugh Stewart, vice president of sales for EMEA and Asia, explains: “India, amongst other Asian countries, looks very promising for us. We have a solid new business pipeline for 2009 in the region.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Hearing from the Experts: AI Governance Best Practices

9 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical...

BLOG

Modern Data Landscape Comes Under Scrutiny at Data Management Summit London

From data products and marketplaces to the new challenges of regulatory compliance and the latest thinking on unstructured data, A-Team Group’s Data Management Summit London 2025 took in the full breadth of topics that chief data officers and their teams are dealing with daily. With a line up of C-suite executives and expert speakers from...

EVENT

TradingTech Summit MENA

The inaugural TradingTech Summit MENA takes place in November and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions in the region.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...