Global Corporate Actions (GCA) Validation Service provides a centralized source of "scrubbed" corporate action announcement information for nearly two million equities, fixed income and structured securities, across more than 160 countries/territories.

Overview

Global Corporate Actions (GCA) Validation Service provides a centralized source of "scrubbed" corporate action announcement information for nearly two million equities, fixed income and structured securities, across more than 160 countries/territories. GCA creates the highest quality corporate action information through a comprehensive cleansing process which comprises data mapping, data normalization, consolidation and verification.

Who Can Use This Service

Any organization that needs access to accurate and timely corporate actions information on global securities is eligible to sign up for the service, including broker/dealers, asset managers, hedge funds, custodian banks and others.

Benefits

The GCA Validation Service:

• Provides comprehensive, round-the-clock coverage across all event types and all global markets with service centers in New York, London and Shanghai, working in local times zones in the local language and according to local market practice.
• Ensures timely and accurate delivery of the information to allow straight through processing (STP), driven by contractual service level agreements (SLAs).
• Streamlines data sources by providing a single source of a “golden copy” for all corporate actions announcement information.
• Reduces back-office operational cost and inherent risk associated with a manual, error-prone process.
• Optimizes front-office trading by providing critical and timely information to individuals making trading decisions.
• Delivers all events in a single, industry standard format
• Guided by clients as decisions are made through recommendations of an active Working Group
• Works closely with formal standards bodies and industry associations to ensure world-class market practices

How the Service Works

Customers submit a "Securities of Interest" (SOI) file, which contains a list of all securities that they wish to receive corporate action information on. The service ‘scrubs’ and publishes the ‘active’ corporate action events that take place on each security on the SOI file.

The data is enriched with desk research performed by experienced professionals in multiple service centers, which includes the review of “source” materials, such as the prospectus, letter of transmittal and press releases.

Customers receive publication files throughout the day that contains ‘composite records’ for each corporate action event that matches the SOI file. Publication files are available in either the industry standard ISO15022 format, standard ISO 20022 format or in a proprietary format.

As well as containing key dates and rates, the composite record also includes clear and comprehensive “terms” and “restrictions” text that enables customers to pass the announcement record straight through to their investor clients or front office trading desk.

Available as an option, a unique custodian verification feature compares and validates the composite records from GCA against data received from the customers' custodian network.

For More Information

For more information about the GCA Validation Service, contact GCA VS Sales or email gcainfo@dtcc.com.

For support, contact the GCA VS Service Center or email gcainfo@dtcc.com.