SunGard has integrated XSP’s global corporate actions software capabilities with its Phase3 multi-asset, multi-currency securities processing solution in a SunGard-hosted application service provider (ASP) environment. SunGard will provide customers with web-based access to the XSP v5 corporate actions platform. The integration with Phase3 will help improve straight-through processing and, the company says, help reduce the cost and complexity of global corporate actions processing.
Corporate actions processing is complex, involving 80 corporate event types including mergers, spin-offs, stock buybacks, name changes and bankruptcies, as well as income events such as dividends, interest payments and called bonds. A single corporate action event can dictate mandatory or voluntary action with multiple options, requiring operations staff and securities processing systems to deal with position changes, settlement and distribution. At the same time, financial institutions continue to seek ways to mitigate costs, control risk and improve efficiencies in an increasingly challenging and volatile economic environment. According to SunGard, Phase3 integrated with the XSP platform provides an automated straight-through process for corporate actions that helps customers reduce the cost of hardware, support and maintenance as well as helping simplify their processing environments.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more