SWIFT started providing capital markets’ services and among these services is delivering Issuers’ procedures to their shareholders – corporate actions notifications. It is worth mentioning that there are other companies than SWIFT providing the same services.
One of SWIFT main privileges is that the delivery process is done in such short time and complied with ISO 15022. There are many SWIFT options where companies can choose one to provide this service. These are;
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Participating with one of the middle companies in information dissemination (the appendix contains some of these middle companies) where CSD can submit any Issuer procedure to them to be distributes among shareholders and also to SWIFT members in corporate actions.
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Participating with SWIFT and developing messages complied with ISO
15022. To distribute procedures, solutions must be developed to create the following messages: o Corporate Action Notification MT 564 .
o Corporate Action Instruction MT 565 o Corporate Action Confirmation MT 566 o Corporate Action Status and Processing Advice MT 567 o Corporate Action Narrative MT 568
And to develop these solutions, CSDs must have a contract with one of the companies specialized with SWIFT solutions to follow the solution and update it when necessary as SWIFT always updates its standards. SWIFT standards can be used without applying and SWIFT solution as the case in “FAST” solution where it applies the same SWIFT format without being connected to SWIFT.
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Issuers’ Procedures and Advertisement Flow
Issuers’ Procedures and Ads Distribution Chart
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Companies that provide solutions serving Issuers’ information and procedures
CheckFree is the global leader in operational risk management and financial transaction management solutions. Together with recently acquired Accurate Software, CheckFree provides integrated solutions that will strengthen your end-to-end transaction processing platform.
We serve a worldwide customer base of more than 1,500 top-tier organizations, including some of the most prestigious domestic and international banks, custodians, brokers and investment firms in the world.
CheckFree eVent automates the complete end-to-end corporate actions process – bringing major benefits for fund managers, custodians and brokers involved in both domestic and cross-border securities activity by greatly reducing the inherent risk involved in the process.
Other CheckFree solutions include its marketing leading Operational Risk Management and straight through processing solutions for post-trade securities processing.
Visit our stand at this year , ‘Delivering Global Corporate Actions Solutions’ conference, to find out more about our SWIFTReady Gold accredited solutions. http://www.checkfreesoftware.com
GoldenSource Corporation delivers Enterprise Data Management (EDM) solutions and business applications such as sub-ledger accounting and corporate actions o financial institutions globally. EDM is a technology and operations strategy that consolidates and validates critical data master files together with trading positions, legal entity definitions and transaction data. GoldenSource solution provides the fundamental integrated platform that connects and powers transaction and decision systems improving information quality while delivering operational efficiencies, improved enterprise risk management and revenue generating initiatives. GoldenSource and its certified partners provide a wide range of implementation and support services to ensure initial and continued success.
For more information, visit our website or email info@thegoldensource.com
http://www.thegoldensource.com
Information Mosaic (IM) is a global leader in providing modern high volume applications for middle-office, back-office and corporate actions automation within the global financial markets industry.
IM’s products address the automation of complex and high-risk securities processing tasks. They provide considerable cost reductions and reduce operational risks. converge™ is an advanced middle and back office system that supports all modern securities processing, including portfolio accounting, performance measurement, fees and billing among many other securities automation tasks. IM has developed this system to cater for the outsourcing environment.
IM has continually enhanced converge™ with new business functionality, as it is based on a modern component based architecture. In addition, IM has developed related products namely, CAMA™
(Corporate Actions Management Application).
From the outset all product components were designed to support multiple markets and multiple currencies. Our components are developed so that they can be integrated as part of the full product suite or operate as stand-alone products. http://www.informationmosaic.com
AIM-listed Mondas PLC provides specialist software solutions to the International Banking and Securities
Industry.
Radica CAPS is Mondas’ market-leading solution for Global Corporate Actions Processing which, in addition to the core CA modules, comprises functionality for Manufactured Overseas Dividends, Election
Arbitrage and Claims Management. Other products from the Radica suite include; NIPS (New Issue &
Placing System), Radica EMP (Election Management Portal), Radica SPS (Short Product Solution
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(Corporate Action & Income)) & Radica PRISM (Parser & Router for ISO Standard Messaging (Corporate
Actions & Income)).
Mondas’ clients include HSBC, Credit Suisse First Boston, Credit Suisse Asset Management, Brewin
Dolphin Securities, Williams de Broë, Man Financial & Stocktrade. http://www.mondas.com
SmartStream Technologies is the undisputed market leading provider of Transaction Management solutions. The company has a 37% market share and over 1,100 clients, including 75 of the world’s top
100 banks. SmartStream Technologies delivers fully integrated, multi-product solutions that enable enterprise wide Transaction Lifecycle Management (TLM®), from trade inception to settlement in a single scalable platform.
TLM® Corporate Actions is the proven, leading edge solution for automating the complete event management process. A unique diary interface, configurable workflow and pre-packaged integration to more than 40 market data feeds deliver unparalleled flexibility and usability.
Further TLM® solutions provided by SmartStream include:
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Cash Management
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Enterprise Exception Management
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Process Automation
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Reconciliations & Investigations
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WebConnect
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Client Money
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Trade Process Management http://www.smartstream-stp.com
Telekurs Financial is one of the world’s leading suppliers of financial information. With connections to over 200 exchanges and 500 contributors world-wide, Telekurs Financial owns and manages one of the world’s largest securities databases. Instrument content is over 2.5 million, providing unparalleled access to global pricing, corporate actions, cross-reference and static information. Data is available on the desktop and in coded format, either as bulk file or selection.
As a founding member of the Association of National Numbering Agencies (ANNA), Telekurs Financial promotes industry standards to facilitate the trading and administration of securities. http://www.telekurs.co.uk/
TATA Consultancy Services Limited (TCS) is a leading global IT consulting, services and business process outsourcing company, which is ranked among the world’s top 15 IT consultancies. With more than 48,000 consultants, TCS works with over 1000 clients in 55 countries. Founded in India in 1968,
TCS has pioneered several significant developments in the IT services including the “Global delivery model”. TCS reported consolidated revenues of $2.24 billion (U.S.) in the fiscal year 2004-2005.
TCS has a mature B anking and Financial Services (BFSI) practice, with over 30 years’ experiences in handling the IT requirements of this sector and consultancy experience in 35 countries, across a broad range of financial services businesses such as Banks, Stock Exchanges, Depositories etc. TCS brings value to its customers in the financial services area by offering solutions that thoroughly exploit its domain knowledge and expertise. Just one of many globally acclaimed banking solutions in TCS’ portfolio is its flagship pro duct NCS™-Corporate Actions (NCS™-CA), which assists financial institutions in streamlining their corporate actions processing.
NCS™-CA is an award winning SWIFT Gold certified solution. Based on a proven rule-based corporate action engine, it offers end-to-end lifecycle management for corporate actions to enable true STP of all
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corporate events, thereby enabling better client servicing, lower operational costs, and increased efficiency. http://www.tcs.com/
Trace Financial a subsidiary of FTSE listed Trace Group plc, focuses on the wholesale financial market and concentrates on industry initiatives including ISO15022, ISO 20022, OMGEO, FIX and FUNDS with emphasis on industry standard technologies such as BPM, JAVA, J2EE and XML.
Trace Financials portfolio of products includes Cloverleaf® finance ( EAI SWIFTReady GOLD accredited since 1999 ), Corporate Actions Management Processing (CAMS), Real-Time Trading, Trafic and Transformer which delivers a new advance in transformation technology.
Since 1998 we have been providing and supporting message based CA solutions for top-tier banking houses in the financial marketplace. CAMS and CAMS Connect is built on a foundation of our own
SWIFTReady GOLD accredited messaging, industrial strength workflow and in-house developed business processing.
Trace has over thirty years experience building complex messaging solutions. It designs, implements and support innovative and practical STP and EAI solutions that enable its customers to reduced risk, costs and increase efficiency. http://www.tracegroup.com/
Vermeg is a provider of next generation software solutions for middle and back office operations of asset managers, brokers, custodian banks and financial institutions involved in securities processing. Since its creation in 1994, Vermeg has maintained recurring growth and profitable activity.
MEGACOR is a SWIFT and BISS Gold labelled solution automating all the tasks of a corporate actions back office. Built in JAVA J2EE architecture, it uses a highly flexible, rules-based, securities processing engine, automating workflow and exceptions management. This flexibility has enabled Vermeg to install
MEGACOR in over a dozen countries, including 3 sites that each handles over 60 markets.
Installed at major institutions in over 15 countries, Vermeg's product suite includes OMEGA FA for Fund
Administration, MEGATRADE, an order management system, MEGALEND for Securities Lending &
Repo, MEGARA for Custody & Settlement, as well as MEGACOR. http://www.vermeg.com/
Xcitek is the global leader in Corporate Actions software, market data and staffing solutions.With over 50 licensed clients, XSP™ is the most widely-implemented Corporate Actions system in the world.
Leveraging its extensive workflow module, XSP is ISO 15022 compliant and features robust data scrubbing tools, web and ISO messaging for client notification and response capture (eTRAN™), and complete entitlement processing to manage the entire Corporate Actions lifecycle - thereby reducing risk and maximising operational efficiency. Xcitek’s market data offerings include Corporate Actions, Cost
Basis, Class Actions, Securities Payments, and other financial data, serving over 2,000 clients worldwide.
Ranked #1 for ten consecutive years by The Summit Group, Xcitek has led all other providers in its categories in such areas as data accuracy, data timeliness, coverage, and delivery reliability. Userfriendly, flexible, and affordable, Xcitek’s web-based solutions deliver time-sensitive and critical information straight to the desktop.Xcitek’s staffing unit provides temporary and permanent placement of highly-skilled professionals in Operations, Outsourcing Support, Project Management and System
Conversions. http://www.xcitek.com/
Exchange Data International has a range of
Corporate Action products that address the different requirements companies have These products range
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from Global Corporate Action announcements to workflow solutions and processing systems.EDI have now implemented ISO 15022 compliant MT564 & 568 messages within their WCA feed. ISO 15022 is becoming the de-facto standard for communicating
Corporate Action event details to arrest the growth of otherwise traditionally manual and volume sensitive procedures.EDI believes it can help automate these processes through structured messaging that offers the potential for increased STP and more importantly reduces risk and improves efficiency for their clients. info@exchange-data.com
http://www.exchange-data.com
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