Fidelity Quietly Shutters ActionsXchange; Low Margins of Corporate Actions Biz Blamed

Officials remain silent on the closure, which has been in the works since last year, sources say.

Closed sign

Fidelity Investments is in the process of shutting down its Fidelity Corporate Actions Solutions (formerly known as Fidelity ActionsXchange) business line and its corporate actions data validation service, prompting an exodus of clients to alternative solutions, WatersTechnology has learned.

The firm decided to bow out of the space in August 2019, sources say, and clients have spent the past year identifying and migrating to alternative providers. The vendor informed clients but has not made

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The IMD Wrap: Will banks spend more on AI than on market data?

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