Best Corporate Actions Initiative (Vendor): DTCC

IRD/IMD Awards 2017

IMD/IRM Awards 2017 Best corporate Actions Initiative Vendor
Max Bowie; Matt Schill, director, settlement & asset services; and Marc Masri, IT area lead, asset services, DTCC DataPro

In the world of corporate actions (CAs) there are three letters that matter the most: STP—or straight-through processing. The winner of this year’s Best Corporate Actions Initiative Vendor award, the Depository Trust & Clearing Corporation (DTCC), has proved it is up to the task after improving timeliness and access to corporate actions announcements.

It is DTCC DataPro’s CA ISO 20022 Messaging and CA Web Data Services that have landed it this award. This year DTCC rebranded its data products to DTCC DataPro and, through DTCC DataPro, clients can subscribe to its Corporate Actions Announcement Data Service, providing them with options to subscribe to the automated ISO 20022 Corporate Action Announcement messages and its online web portal CA Web Data Services to view CA Announcements. 

DTCC DataPro’s CA ISO 20022 Messaging and CA Web Data Services date back to the Depository Trust Company’s (DTC) multi-year CA Transformation Initiative, which began in 2010 and introduced a shift in the way corporate actions were communicated to clients by increasing automation and ease of use.

As part of the initiative proprietary CA announcement files were converted into the industry-standard ISO 20022 format and provide clients with near real-time information instead of end-of-day or batch-file processing. The initiative also resulted in the group developing the browser-based platform CA Web Data Services for CA announcements. This has been celebrated for its search and export functionalities and robust dashboard views, which allow users to select what they would like to view. 

With CA ISO 20022 Messaging and CA Web Data Services, subscribers can identify business-critical corporate action announcements in near-real time for 1.3 million active security issues, enabling them to better manage risk and ensure operational efficiency. The services source their announcement data from the DTC, a DTCC subsidiary and the world’s largest securities depository.

Following the release of the services, DTCC has seen interest in the data from a broader audience. “We’re proud to have been able to expand our community to include end-clients, data vendors and even research institutes as users of our CA Announcement data,” says Ann Marie Bria, executive director of corporate actions business management at DTCC.

The combination of the automated ISO 20022 offering and web portal for tracking and managing CAs appears to be the winning formula, satisfying the different needs of a whole spectrum of clients. 

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