HSBC Securities Services (HSS) has implemented CheckFree’s event solution to deliver automated end-to-end corporate actions processing to HSS’s investment administration clients. HSS offers securities administration and custody and is a provider of global, regional and domestic securities services to corporate and institutional clients around the globe. HSS recently surpassed US$1 trillion of assets under administration and has US$4.332 trillion of assets under custody. The implementation of CheckFree eVent is designed to automate the announcement capture and validation of HSS’s multiple data sources, creating corporate actions master records for downstream processing and accounting updates. All external communications have been implemented and streamlined using the SWIFT ISO 15022 message suite for corporate actions to ensure high STP rates are achieved. With this new deployment, HSS will offer its clients post-trade securities processing, including corporate actions automation, using two CheckFree solutions that leverage a common architecture. HSS is already supported by CheckFree TradeFlow for trade confirmation and settlement.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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