DTCC Connection

Jun 08, 2017 • DTCC Connection

DTCC’s DataPro Wins Award for Best Corporate Actions Initiative

DTCCs DataPro Wins Award for Best Corporate Actions Initiative
From left to right: Max Bowie, Editor of Inside Data Management ; Matt Schill, Director, Settlement & Asset Services ; Marc Masri, IT Area Lead, Asset Services

DTCC DataPro was presented Inside Market Data / Inside Reference Data’s Best Corporate Actions Initiative (Vendor) for its Corporate Actions Data Services at a ceremony held at the Marriott Marquis in New York on May 24. Accepting the award on behalf of the Depository Trust and Clearing Corporation (DTCC) were Matt Schill, Director, Settlement & Asset Services and Marc Masri, IT Area Lead, Asset Services.

The award recognizes DTCC DataPro’s Corporate Actions ISO 20022 Messaging and Corporate Actions (CA) Web Data Services for its vision, leadership, and ability to bring vast improvements to subscribers’ operational efficiency and reduction of errors in processing critical events.

Commenting on the award, Ann Marie Bria, Executive Director, Asset Services at DTCC said “We are excited that DTCC DataPro was recognized for the Best Corporate Actions Initiative this year by one of the industry’s key financial trade publications. These products were a result of DTCC’s multi-year Corporate Actions Transformation initiative which introduced a major shift in the way corporate actions are communicated to clients by increasing automation and ease of use which helps firms reduce risk, enhance efficiencies and drive down costs related to corporate actions processing.”

About DTCC DataPro’s Corporate Actions Data Services

Each year U.S. issuers announce millions of corporate actions, ranging from dividends and stock splits to mergers and tender offers. However, information on these announcements is distributed in multiple formats by dozens of custodians and issuers, undermining investors’ ability to parse information in an efficient manner and potentially introducing significant risk to asset management activities.

DTCC DataPro’s Corporate Actions Data Services deliver near-real-time messaging on corporate action announcements for 1.3 million active security issues held by the Depository Trust Company’s (DTC), a DTCC subsidiary.

Corporate Actions ISO 20022 Messaging can vastly improve operational efficiency and reduce errors in processing critical events by using Corporate Action Identifier (CA Identifier) and the ISO 20022 common messaging language. With CA Identifier, a DTCC innovation, DTCC assigns a unique identifier to each announcement. DTCC, the world’s first adopter of the ISO 20022 messaging standard for corporate actions, has worked with its clients and the industry as a whole to create a mature and efficient flow of information.

DTCC’s sleek and intuitive CA Web provides a consolidated source for corporate action announcements. With its robust array of features, CA Web centralizes vital information and lets the user select what to view, through announcement dashboards for Distributions, Redemptions and Reorganizations. Due the flexibility of the CA Web interface, the ever-changing demands of the market can be met quickly and efficiently.

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About DTCC DataPro

DTCC DataPro offers referential and activity-based data, delivered in fixed or configurable formats, sourced from DTCC’s transaction, reference, position and asset servicing data covering all major asset classes. As the premier post-trade market infrastructure for the global financial services industry, DTCC simplifies the complexities of data management across transaction types and asset classes, increasing transparency, mitigating risk and driving efficiencies for financial firms.

Read More: DTCC DataPro Enhances Data Offerings, Covers Major Asset Classes

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