SIX has launched its fully automated Corporate Action Calendar to allow clients to track and process upcoming corporate action events.
The platform has been designed in response to surging client demand for more automated corporate action solutions.
The new functionality is displayed to clients through SIX iD, a data display tool.
The Corporate Action Calendar imports clients’ investment portfolio. The platform then automatically flags any relevant changes to upcoming corporate actions impacting the securities in the portfolio. This helps clients to prioritise their workload and enhance operational efficiency, says SIX.
Though monitoring corporate actions is a labour-intensive process, costing the back-office significant time and money, 78 per cent of global market participants, spanning Europe, North America and APAC, still process part of their corporate actions manually.
SIX’s Corporate Action Calendar tracks and processes mergers and acquisitions, dividends and stock buybacks across all their portfolio companies.
Annelotte De Nanassy, senior product manager, financial information, SIX, says: “With cost pressures biting amid global macroeconomic uncertainty, this innovation could not come at a better time for clients.
“Beyond relieving pressure on increasingly stretched front- and back-office teams, our new offering will free up talent to work more closely on the complex, value-add elements of their job. This helps contribute directly towards maintaining a healthy and competitive position.”
Shai Popat, managing director of product and commercial strategy, financial information at SIX, adds: “This solution is yet further evidence of the unwavering dedication to client service and innovation of SIX. With this user-friendly visualisation of a complex data set we are confident of helping to transform the way corporate actions are dealt with across the industry.”
