The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Thomson Reuters to Offer Securities Class Action Claims Filing Solution through PORTIA

Share article

Thomson Reuters today announced that it will offer securities class action claims filing capabilities as part of its enterprise-wide investment accounting system. The solution will be delivered in collaboration with Global Claims Filing Limited (GCF), a provider of securities class action data, research and claims filing services.

Thomson Reuters PORTIA provides comprehensive investment accounting management capabilities for asset managers worldwide that will now offer an inclusive, automated claims filing solution through GCF. Used by more than 300 investment managers in 45 countries managing assets worth more than US $15 Trillion, Thomson Reuters PORTIA is a highly scalable solution which boasts flexible deployment options. GCF calculates the recognised loss for each settlement in order to maximise the client’s recoveries, helping to boost the performance of their portfolios.

More than US$42 billion has been available to investors in securities class action settlements in the past five years and there is more than US$11 billion in settlements currently available to investors. The consolidated solution from Thomson Reuters addresses the issue of clients leaving billions of dollars on the table each year. Thomson Reuters and GCF together deliver an automated securities class action service that can ensure that clients’ recoveries in all settlements are maximised, while helping reduce operational risk.

“A large percentage of securities class action claims are never filed, so it is our goal through this collaboration with GCF, to make clients aware of securities class actions and to simplify the claims filing process,” said Christy Bremner, global managing director of PORTIA, Thomson Reuters. “Using Thomson Reuters PORTIA and GCF, clients can leverage this relationship to have the ability to demonstrate their commitment to recovering claims to which their clients are entitled.”

“We look forward to working with Thomson Reuters to provide their PORTIA clients with a comprehensive securities class action claims filing solution,” said Michael Egan, president, GCF.

“By outsourcing the claims filing process, GCF enables its clients to recover significant amounts of money for their clients, to concentrate on their investment performance, and relieve their back office from a time consuming and tedious process,” said Kevin Brady, chief executive officer, GCF.

Related content

WEBINAR

Recorded Webinar: How to leverage the LIBOR transition to improve your data management game

The transition away from LIBOR (London Interbank Offered Rate) is well underway, but there remains considerable ambiguity around how the final stages will be executed – especially with regards to benchmark replacements in markets outside the UK. What are the options, where are the uncertainties and what stage have firms reached in their preparations? The...

BLOG

SIX Partners with Crux Informatics to Streamline Data Access

Swiss financial data giant SIX has partnered with Crux Informatics to provide a brand-new managed market data solution to remove unnecessary implementation and management pressure for buy-side companies. Crux will integrate SIX’s Valordata Feed (VDF), which covers 29.7 million instruments for pricing, corporate actions reference data as well as compliance and regulatory data. The partnership...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Corporate Actions USA 2010

The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...