SmartStream said that its Transactions Lifecycle Management (TLM) Corporate Actions version 10 has been awarded the SWIFTReady Application label for corporate actions, following completion of a rigorous testing period.
The award is one of a number received for its TLM Corporate Actions product. The certified SWIFT messaging capabilities allow clients to process corporate actions information in line with global and specific national market practice requirements, whilst at the same time providing the flexibility to interpret and process custodian data with specific interpretations of message formatting.
“We are pleased to award the SWIFTReady Application label to SmartStream for TLM Corporate Actions V10,” said Filip Versluys, head of partner marketing, SWIFT. “SWIFT certifies selected applications that meet our strict standards and requirements. Clients will benefit from SmartStream’s expertise as well as from SWIFT’s services.”
TLM Corporate Actions supports the complete event lifecycle, providing a single scalable application that delivers control and accountability to all parties. A comprehensive, web-based solution that incorporates workflow-based steps to control and manage all user tasks and priorities in real time, TLM Corporate Actions helps to eliminate operational risk. It also minimises operational costs and significantly reduces exposure to financial losses prevalent in the manual processing environment.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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