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SmartStream and DTCC Solutions partner on corporate actions

SmartStream Technologies is adding the Global Corporate Actions Validation Service (GCA VS) from DTCC Solutions into its TLM corporate actions processing platform.

The GCA VS offering from the subsidiary of the Depository Trust & Clearing Corporation (DTCC) tracks, validates and distributes corporate actions information on more than 2.5 million securities across 200 countries, enhancing the reach of SmartStream’s platform.

According to the partners, the GCA VS corporate action data service has been fully tested within the SmartStream Quality Assurance test lab and together these systems provide clients with enhanced processing capabilities within their production environments.

Combining GCA VS’s data, which is published up to 15 times a day, with the automated processing capabilities of the TLM corporate actions platform should give end users on the financial markets early, validated event notifications that can be broadcast straight through to front office operations. It can also be used to reconcile custodian / broker notifications and process the entire event lifecycle, while increasing efficiency and mitigating the risk associated with missing a corporate action event. The GCA VS notifications can also be compared with events sourced from custodians, brokers or from a client’s third-party sources if the SmartStream data management service is chosen as an option.

Commenting on the link-up, Philippe Chambadal, chief executive at SmartStream Technologies, said: “We are very happy to have entered into this agreement with DTCC Solutions. The combination of our corporate actions solution and DTCC Solution’s GCA Validation Service makes this a powerful tool for middle and back offices. The ease-of-use and accuracy alone will make a real difference in the way financial institutions conduct their corporate actions business and they will see the results of the realised efficiencies almost immediately.”

According to Dan Thieke DTCC vice president of product management, heightened efficiency, timeliness and better quality information will all result from the partnership. “Together with our partners, we will continue to work to provide an end-to-end processing solution for corporate actions,” he added.

By Neil Ainger