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.
The transition to ISO 20022 messaging and a web-based user interface, called “CA Web”, are part of DTCC’s overall corporate actions transformation that is resulting in the replacement of the many files and legacy platforms that have evolved over the years.
The CA Web replaces PTS/PBS functionality associated with announcement and entitlements, instructions, allocations and adjustments for distributions, redemptions and reorganizations. ISO 20022 messaging serves 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 firstname.lastname@example.org.
Fact Sheets and Background Material