Enhanced Global Corporate Actions Service Delivered Throughout The Day; Designed To Help Firms Manage Risk Exposure Across The Enterprise
Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced new enhancements to its award-winning* global Corporate Actions Service. Interactive Data has introduced new technology and internal workflow to deliver comprehensive global corporate actions and related information throughout the day that can help firms with their trading strategies and more effectively manage their risk exposure across the enterprise.
Timely delivery of corporate actions data is essential to help financial firms support trading operations, understand and analyze risk exposure, and keep clients informed of pending events that may affect their decisions. Failure to properly handle even a single corporate action – many of which are complex – can result in significant reputational damage and exposure to financial risk.
To help clients meet these challenges, Interactive Data’s Corporate Actions Service now offers intra-day delivery every hour throughout the trading day. The enhanced global service is delivered via a choice of intelligent interfaces in a consistent XML format across all instruments and corporate actions announcements, including message-based publishing. The reengineered, innovative platform is designed to streamline client integration, enabling clients to easily import, track and process corporate actions. Easy navigation allows the user to select attributes for specific business functions, with features that can show the audit trail – key for operational risk management.
The Corporate Actions Service provides a wide range of global content with exceptional depth of data, including corporate actions, dividends and capital events information for more than 65,000 companies operating in over 90 countries. And with the ever-increasing flow of information, the new platform has been designed to easily integrate new types of corporate actions, including complex instruments. Cross-referencing support across industry identification standards including CUSIP®, ISIN and SEDOL is provided.
“Firms need timely corporate actions data across the organisation to help understand and analyze risk exposure, to help support investment strategy, trading operations and client notifications, as well as for portfolio administration and accounting functions,” said Robin Simpson, managing director, Reference Data. “Our Corporate Actions Service integrates a vast range of global data into a consistent presentation with flexible delivery and easy client integration. Clients can choose the types of data and security coverage they wish to receive and the frequency at which they wish to receive it.”
Interactive Data has decades of experience in gathering, updating, validating and delivering corporate actions data, covering multiple markets and instrument types, to financial institutions worldwide.
* Interactive Data was recognized as ‘Best Corporate Actions Data Provider’ at the Inside Market Data/Inside Reference Data Awards in 2008 and 2009, and ‘Best Corporate Actions and Reference Data Provider’ at the (UK) Systems in the City Awards in both 2009 and 2010.