Fidelity ActionsXchange, a leading provider of global corporate actions processing solutions, today announced that it was named “Best Corporate Actions Solutions Provider” in the 2009 Waters Rankings of the best IT solutions and services for the financial services industry. This is the second consecutive year Fidelity ActionsXchange has won this award.
Waters Rankings winners are chosen by the readers of Waters magazine, a financial IT publication with more than 10,000 readers who work in IT and other divisions inside institutional investment firms both on the buy side and sell side, asset management firms and hedge funds. This is the seventh annual Waters Rankings and this year more than 1,000 readers voted.
“With the dynamic nature of the markets and growing complexity of corporate actions, such as debt restructuring, warrants, rights issuances and overall corporate balance sheet restructuring, just accessing a single data source is not enough to manage the risks in this type of environment,” said Laura Pollard, executive vice president, Fidelity ActionsXchange. “We are pleased to have been recognized by Waters. This award validates our efforts to provide our clients a unique global corporate actions solution that combines highly skilled analysts with the comprehensive, multisource data and state-of-the-art technology they need to effectively manage risk and make more reliable, timely investment decisions.”
Fidelity ActionsXchange was formed in 1997 to offer corporate actions solutions to financial institutions. The company uses the same technology, operations, and expertise used by Fidelity Investments to achieve the highest quality performance in corporate actions processing in the industry. Operating as an independent company, Fidelity ActionsXchange has completed more than 50 implementations partnering with major global financial institutions to support their corporate action needs.
Fidelity ActionsXchange currently offers two corporate action information solutions:
• ActionService -- Uses multiple commercial data sources, highly skilled analysts, and leading-edge technology to edit, synthesize, cleanse, and reformat corporate actions announcements into a single composite record.
• ActionCompare-- Combines the multi-sourced and cleansed ActionService data with a client’s custodian or proprietary data to create a flexible, customized, Web-hosted solution.