The agreement includes UBS Warburgâs usage of Wilcoâs corporate actions processing engine across its international operations, supporting its three main processing hubs in Stamford (Connecticut, US), London and Singapore on a 24x7 basis. The agreement also includes the development by Wilco of a new rules-based scrubbing engine for corporate actions data, and interfaces to external services and books and records systems.
The Wilco solution will replace various in-house developed systems, providing a standard Java-based IT platform with scalable high volume capabilities that can support UBS Warburgâs international growth forecasts.
Wilco to provide UBS Warburg with corporate actions platform
Processing within Wilcoâs corporate actions engine will include comprehensive workflow management, event capture, entitlement calculation, holder notification, taxation, open item and claims processing and settlement tracking. Wilco will develop new interfaces from its corporate actions engine to UBS Warburgâs in-house books and records systems for Europe and Asia, as well as an interface from its corporate actions engine to ADPâs BPS system for North American books and records. A new adapter will also be developed for global corporate actions messaging via the SWIFT network.
Wilcoâs processing for corporate actions will be extended through the development of a new rules-based scrubbing engine that will handle the intake and management of external and internal corporate actions data. The scrubbing engine will receive multiple vendor feeds, compare data elements, identify and validate exceptions and publish announcements to Wilcoâs centralised repository, BIX.