BBH Introduces New Corporate Actions Tool

The new service will automate two critical functions, notifications and responses, through a pair of client-configurable modules called Event Management and Response Management, allowing firms to highlight inconsistencies across disparate data sources, capture holds positions, and submit simultaneous election responses to multiple parties.

BBH says InfoAction will be offered through a software-as-a-service model that will enable rapid onboarding, and is connected to over 2000 SWIFT and non-SWIFT compliant relevant entities. Early pilot users of the tool have been able to achieve full production across a range of twenty custodian banks in three weeks. 

"To process Corporate Action events correctly and timely is hard enough across multiple portfolio managers and multiple securities. For an institutional asset manager, the additional variable of multiple custodian banks makes it a real problem.  Different banks have uneven service levels, disparate data standards, and diverse deadline requirements and communications protocols.  Frankly, it can be a nightmare. With InfoAction’s modular design, asset managers now have cost-effective technology to achieve consistent best practices around corporate actions processing," says BBH senior vice president Timothy Bosco.