The Exchange offers an ISO 15022-compliant service to deliver corporate actions and dividend data from UK-based corporations to end users in near real-time over the SWIFT network, using the MT564 corporate actions notification messages. The London Stock Exchange is the first stock exchange globally to supply centrally sourced corporate actions data through an industry-standard interface via SWIFT. This standardisation enables users of this corporation actions data to eliminate time-intensive processes and mitigate potential risk more effectively through automation.
Mark Husler, Head of Reference Data at the London Stock Exchange, commented "We have invested in technologies to support ISO 15022 messages using functionality contained within our award winning SEDOL Masterfileâ¢ database. Our ISO 15022 Corporate Actions feed extends our capability to supply our clients with this mission critical data."
Husler added "With the support of connectivity and workflow technology providers, such as CheckFree eVent, our customers can now receive, validate and process all of their corporate actions data. This goes some way to reducing the risk and complexity of corporate actions processing for our customers."
Geoff Harries, director of STP product management at CheckFree Software, said, "Customers of the London Stock Exchange who deploy CheckFree eVent will now benefit from a fully supported ISO 15022 platform for their corporate actions data. Our solution provides an environment in which information from multiple sources can be easily accessed and integrated into a single, standardised format for an increasingly comprehensive view of corporate actions in markets around the world. Adding high quality data feeds, such as the London Stock Exchange, significantly enhances our announcement capture functionality."
CheckFree eVent is the first solution to automate the end-to-end corporate actions process by automating the electronic receipt of corporate actions notifications and providing online management tools to manage the entire process. CheckFree eVent brings major benefits for fund managers, custodians and brokers involved in both domestic and cross border securities activity. The application allows these institutions to more efficiently validate specific corporate announcements and greatly reduce the potential risk that incorrect or conflicting announcement data could adversely affect all subsequent operations, processes and business decisions downstream from that event.
In September 2005, CheckFree was awarded the SWIFTReady corporate actions label for CheckFree eVent, which is built on the same financial messaging platform as the 2005 SWIFTReady Gold accredited CheckFree TradeFlow solution. CheckFree eVent also recently achieved the CityCompass Research B.I.S.S. Gold Accreditation for Corporate Actions Systems. The designation, along with the SWIFT accreditation, further reflects CheckFreeâs commitment to technology leadership in the corporate actions space.