Paris, 6 February 2004
Vermeg, the specialist Securities Services and Fund Management software provider, and Telekurs Financial, one of the world’s leading providers of financial information, announced they have concluded a business partnership around the processing of Corporate Actions.
Through this alliance, Vermeg integrates the data from Telekurs Valordata Feed (VDF) into Megacor, its corporate actions automated solution, in a STP mode.
VDF delivers static data and corporate actions data in a structured, encoded
form, as well as valuation prices on approximately 1.8 million financial instruments. With over 50 message types and around 1,500 data fields, the VDF offers an extraordinary depth of data. Events and data can be traced back over ten years. VDF supports Straight Through Processing and is available worldwide as a global product.
Megacor is Vermeg’s fully ISO15022 compliant corporate actions processing system which automates a wide range of events from the initial corporate action data input to its final execution, including data cleansing. The solution is
installed in over a dozen of customers, including 3 sites which each handle global custody in over 60 markets.
It is the first corporate actions solution to be accredited by SWIFT with its new Corporate Actions SWIFTReady Label (July 2003) for STP and compliance with securities market practices.
Philippe Rey, Vermeg’s President commented, "We are very pleased about our
partnership with Telekurs Financial. We had already integrated other data feeds in Megacor but the combination of Megacor and the VDF feed will provide our customers and the market (asset managers, banks, in-sourcers) with an even more powerful integrated solution delivering enhanced value and greater automation around Corporate Actions".
"We are continually committed to establishing partnerships with proven
solutions such as Megacor to help our clients streamline their securities
processing" says Mr. Fabrice Blanc, Head of Marketing & Communication at
Telekurs France. "We look forward to working with Vermeg towards this goal".
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