SmartStream Technologies, the financial transaction lifecycle management specialist and DTCC Solutions LLC (DTCC Solutions), a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC) announced today a strategic partnership that enables mutual customers to seamlessly integrate DTCC Solutions’ Global Corporate Actions Validation Service (GCA VS) into SmartStream’s multi award winning corporate event processing platform “TLM Corporate Actions”.
GCA VS tracks, validates and distributes corporate actions information on more than 2.5 million securities globally in 200 countries.
The GCA VS corporate action data service has been fully tested within the SmartStream Quality Assurance test lab and together these systems provide clients with enhanced processing capabilities within their production environments. A number of existing GCA VS and SmartStream customers are already using the new integrated system.
Combining GCA VS’s high quality data, published up to 15 times a day, with the automated processing capabilities of TLM Corporate Actions provides clients with early, validated event notifications that can be broadcast straight through to front office operations. It can also be used to reconcile custodian / broker notifications and process the entire event lifecycle while increasing efficiency and mitigating the risk associated with missing a corporate action event.
In addition to operational efficiencies delivered by TLM Corporate Actions, clients can further benefit from SmartStream Data Management Service to automatically compare GCA VS notifications with events sourced from custodians, brokers or from a client’s third-party sources as a managed service.
Philippe Chambadal, CEO at SmartStream Technologies said: “We are very happy to have entered into this agreement with DTCC Solutions. The combination of our corporate actions solution and DTCC Solution’s GCA Validation Service makes this a powerful tool for middle and back offices. The ease of use and accuracy alone will make a real difference in the way financial institutions conduct their corporate actions business and they will see the results of the realized efficiencies almost immediately.”
“Heightened efficiency, timeliness and quality of information are some of the key benefits that come with these combined service offerings of DTCC Solutions and SmartStream Technologies,” said Dan Thieke DTCC Vice President, Product Management. “Together with our partners, we will continue to work to provide an end-to-end processing solution for corporate actions.”