DTCCâs GCA Validation Service provides a standardized source of accurate and timely corporate action announcement information, giving customers global coverage for securities traded in the Americas, Europe and Asia. It is available through an ISO 15022 format, as well as a proprietary format and real-time Web browser application. The service is provided by Global Asset Solutions LLC, a wholly owned subsidiary of DTCC.
Kevin Cullen, Information Mosaicâs Vice President of Sales and Marketing in the US, stated, "Information Mosaic is pleased to participate in DTCCâs efforts to simplify and streamline announcement processing by providing this centralized source of âscrubbedâ corporate action information. By eliminating redundant processing and reducing the high fixed costs associated with labor-intensive processing, we feel that the GCA Validation Service will change the way announcements are managed globally. Using our standard messaging utility, building the interface to the new ISO 15022 format required minimum effort on our part."
"We welcome Information Mosaicâs effort to help their customers access our validation service," said Brett Lancaster, Vice President at DTCC. "This new mapping capability will provide easier access to the GCA Validation Service, which helps customers avoid the manual, time-consuming and risk-prone processing involved in collecting, consolidating and verifying announcement information."
Lancaster pointed out that corporate actions are one of the last significant areas of risk associated with largely manual and non-standardized processing in the securities sector.