DTCC Voted Best Corporate Actions Solutions Provider For Second Straight Year
Jim Femia of DTCC accepts Waters award for best corporate actions service.
Financial professionals on five continents chose The Depository Trust & Clearing Corporation (DTCC) as the “Best Corporate Actions Solutions Provider” in Waters magazine’s Annual Ranking Poll. This is the second year in a row that Waters’ readers have selected DTCC as number one on the delivery of high quality, timely and accurate corporate action information.
The award recognizes DTCC’s Global Corporation Action (GCA) Validation Service, which provides a centralized source of “scrubbed” information about corporate actions, including tender offers, conversions, stock splits, and nearly 100 other types of events for equities and fixed-income instruments traded in Europe, Asia-Pacific and the Americas.
“This vote of confidence from customers around the world is truly gratifying. It tells us that the high quality of the value-added information we provide, coupled with our expert professionals based in London, New York and Shanghai, resonates with both our buy-side and sell-side customers,” said James Femia, DTCC managing director and head of the Global Corporate Action business.
Customers include Credit Suisse First Boston, JP Morgan Securities, Inc., Merrill Lynch, UBS and other leading financial institutions including broker/dealers, banks and hedge funds. Increasingly, DTCC customers are employing GCA Validation Service in the front-office to make investment decisions based on the latest, most accurate corporate actions information.
While DTCC’s GCA Validation Service is a global offering, it builds off of more than 30 years of practical experience DTCC’s depository subsidiary has had as the largest processor of corporate actions in the world, handling a record volume of corporate actions, including reorganization, redemption, dividend and interest payments valued at more than $2.3 trillion in 2004.
DTCC is the Corporate Actions Hero
“Corporate actions processing can be a headache for any firm, with all the phone calls, e-mails and faxes that can result from every announcement. It can be difficult to find the right headache pill for such a complex process, but in DTCC, it looks like our readers have found the answer. The firm has trounced the opposition in our poll with almost half of our respondents choosing the firm as the best corporate actions solution provider. The firms’ Global Corporate Action (GCA) Validation Service promises to be the cure-all for firms’ corporate actions headaches, and like last year, it looks like our readers have been sleeping well with GCA in their medicine cupboard.”
About the Waters Award
The Waters Rankings are the readers’ choice awards of Waters magazine. They recognize the combined leadership of technological capabilities and human expertise. Qualified voters were buy- and sell-side end users who voted in the categories for which they have respon-sibility. More than 700 end users voted, distributed geographically as follows: United States, 55%; Europe, 30%; Asia-Pacific, 10%; Rest of world, 5%.
About Waters Magazine
Each month, Waters reports and analyzes the practical implementation of financial technology in the wholesale banking and securities industry. Since its launch in 1993, financial information technology professionals worldwide have relied on the magazine for its focused, in-depth coverage of financial market data and technology as well as the human issues of talent management, staff retention and compensation within the financial services community. With more than 10,000 subscribers, Waters presents the insights of chief information officers and chief technology officers from the global capital markets. Waters is published by Incisive Media Plc.
For more information, please visit at www.watersonline.com and www.incisivemedia.com.
Editor’s Note: For more information on the GCA Validation Service, please contact Warren Eastman at (212) 855-5663 or weastman@dtcc.com. @