Standard Chartered now has a corporate actions platform in all 39 markets in its securities services network, with the aim of capturing investors and intermediaries across Asia, Africa and the Middle East.
With the new platform in place, the bank offers "sophisticated asset servicing capabilities consistently across its network, helping its clients better manage their corporate actions processes and reduce associated risks, thereby allowing them to focus on pursuing investment growth opportunities," said a statement.
The platform aims to provide a high level of automation and adherence to global market standards with new capabilities that simplify day-to-day corporate actions processing and minimise risk exposure.
"Its high flexibility allows adjustments to client specific preferences, such as tailoring methods and timing of announcement distribution and managing upcoming deadlines through a consolidated dashboard," said the statement.
The platform complies with SWIFT standards, enabling straight-through processing. For non-SWIFT users, it offers a full range of alternative real-time capabilities, including automated faxes and emails. Through Straight2Bank, the bank’s online client web portal, clients can consult, design and schedule their own reports. This intuitive platform also allows clients to submit secured and straight-through corporate actions instructions, and avoid the overheads and risks associated with manual instructions.
Commenting on the implementation, Margaret Harwood-Jones, global segment sponsor of investors and intermediaries in transaction banking for Standard Chartered, said:
“As an increasing number of clients look to participate in the rapidly expanding range of opportunities in emerging markets, volume and complexity of corporate actions are growing fast. This is further compounded by significant market disparities in the rules and practices governing corporate actions, resulting in inefficiencies and potential risks that can cause the industry a substantial cost amounting to tens of millions of dollars annually. Our new corporate actions platform will help clients efficiently manage these challenges and focus on exploring growth opportunities in emerging markets.”
