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AIM Software’s GAIN CADM Recognized as “Best Corporate Actions Data Initiative” by Inside Market Data/Inside Reference Data

AIM Software, the leading provider of enterprise data management (EDM) applications to the financial services industry, announced that its GAIN Corporate Actions DM (CADM) has won the “Best Corporate Actions Data Initiative” at the Inside Market Data/Inside Reference Data Awards 2016.

These awards were based on a reader survey: data management, business and technology professionals from financial institutions voted for their best vendors.

As part of a complete suite of purpose-built business applications, GAIN CADM is focused on creating and maintaining a golden copy record of corporate actions events via the validation of announcement information with a second or third source. The system ensures the golden copy is completely and accurately captured before it is fed into further systems.

“We believe that modern data management systems that remain aligned with latest standards contribute to the improvement of the quality of corporate actions data,” comments Olivier Trine, product manager Corporate Actions solutions from AIM Software. “The approach is to solve all discrepancies up front before they impact downstream processes, meaning prior to entitlement calculation or even client notifications, with minimal disruption on the existing processes – a ‘data quality firewall’,” he continues.

The product offers a range of data vendor connections, including those to Bloomberg, SIX Financial Information, and Interactive Data feeds, and support for SWIFT messages received from counterparties such as custodians. Recently live at a global custodian, tests show that 80% of the 100.000 messages it receives annually can be automated – in particular with the high volume mandatory events.

“A pragmatic method is to combine people’s knowledge with automation technology,” continues Olivier Trine. “The challenge was to design a system empowering business end-users with greater autonomy and flexibility in applying changes to the system.”

The new Release 5.8 extends the automation capabilities of the system further, enabling corporate actions analysts to fine-tune the system based on their know-how on custodians – such as the redefinition of data sources quality weightings, narrative filter, alert conditions, publication timelines and corporate actions matching details. The product includes plugins to asset management and private banking-specific systems such as SimCorp Dimension and Avaloq.

Josef Sommeregger, Managing Director and Chief Commercial Officer at AIM Software, comments: “Together with the accolades we received the last two years in the EDM and Pricing areas, this award is the recognition that AIM Software’s Business Application approach is valued as a game changer in the EDM space.”