Issues & Initiatives

DTCC's Corporate Actions Transformation Initiative

 

The DTCC Corporate Actions Transformation initiative is a multi-year project which represents a major shift in the way corporate actions are communicated to clients. Benefits include increased automation and ease of use, which helps firms reduce risk, enhance efficiencies and drive down costs related to corporate actions processing.

About

The transition to ISO 20022 messaging and a new web-based user interface, called “CA Web”, are part of DTCC’s overall corporate actions transformation that will result in the replacement of the many files and legacy platforms that have evolved over the years.

The new CA Web has already replaced PTS/PBS functionality associated with distributions announcements, entitlements, instructions, allocations and adjustments, and will eventually encompass redemptions and reorganizations as well. ISO 20022 messaging will serve as the replacement for DTC’s legacy “CCF” corporate action files.

In order to deliver the CA Web and ISO 20022 messaging to clients, DTC changed the operative data model which utilized numeric function codes to represent different corporate action events, options and payouts. In place of the function codes, DTC now communicates information using a single-event structure, with events being represented as they are known in the market.

Who to Contact

DTCC is committed to working with customers and the vendor community to prepare for this transition. For more information, please contact your relationship manager or catransformation@dtcc.com.

 

Fact Sheets and Background Material

Corporate Actions Web
Corporate Actions Transformation Brochure
Automating Distributions Instructions for Elective Dividend Events
Corporate Actions Transformation Redemptions Timeline
One Giant Leap for DTCC and ISO 20022
Implementation Timeline
Video: Corporate Actions Operational Landscape

ISO 20022 Messaging Specifications

Corporate Action Scenarios Documentation



· Detailed mapping of event types to function /activity codes
· Data Dictionaries

Read More

An Introduction to DTCC's Corporate Actions Transformation Initiative

Daniel Thieke, DTCC Managing Director, Head of Settlement & Asset Services discusses DTCC's Corporate Actions Transformation initiative.

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