CheckFree Corporation (Nasdaq: CKFR) today announced that CheckFree eVent(tm), the company's powerful automation and workflow solution for corporate actions processing, now interfaces with the SWIFT ISO 15022 compliant data feed from CDS INC., a subsidiary of The Canadian Depository for Securities Limited, which serves as a premier supplier of Canadian equity and debt entitlements information.
As a result, CheckFree and CDS INC. are now making quality Canadian entitlement data for the automated processing of corporate actions available to customers worldwide. The CDS INC. service uses MT564 Corporate Actions Notification messages, over the SWIFT network and CDS' proprietary network. It offers subscribers detailed corporate actions information on the 54 event types used in Canada. CheckFree and CDS INC. are extending their commitment to the industry adoption of ISO 15022 messages as standard and helping customers to achieve greater automated processing of their corporate actions.
Geoff Harries, director of securities product management at CheckFree Software said, "The interface between CheckFree eVent and CDS' entitlement data provides clients with a high-quality Canadian data feed that can be automatically incorporated into CheckFree eVent's notification validation process. This solution is now available to financial organisations that subscribe to the CDS INC. service, improving the quality of corporate action processing."
Ian Gilhooley, chief operating officer at CDS INC. said: "The CDS Entitlement Messaging service facilitates the process of distributing Canadian information to securities market participants anywhere in the world. We designed our Entitlement Messaging service to meet ISO 15022 standards. This makes it an ideal feed for CheckFree eVent, which helps lower costs and enables firms to reduce potential risks."
With the help of CheckFree eVent, organisations can receive, compare and validate corporate actions data from multiple sources without manual intervention, a process that can otherwise be time-consuming and prone to error. The solution automates the electronic receipt of notifications and provides online management facilities to direct the entire process from notification to settlement.
SWIFTReady accredited, CheckFree eVent is built on the same financial messaging platform as the SWIFTReady Gold accredited CheckFree TradeFlow solution. CheckFree eVent has achieved the CityCompass Research B.I.S.S. Gold Accreditation for Corporate Actions Systems. This designation, along with the SWIFT accreditation, further reflects CheckFree's commitment to technology leadership in the corporate actions space.