Asset Control has integrated DTCC's corporate action service into its data management solution as standard functionality. The integration offers Asset Control clients direct connectivity to DTCC’s pre-validated corporate actions data to remove financial risk and inefficiency associated with manual operations.
Phil Lynch, CEO of Asset Control, said, "Following the global financial crisis, corporate actions data has increased in volume and complexity and because of this, it is one of the last sectors in the data management space to be automated. Investors and regulators no longer have the palette for manual processes, especially with such tight scrutiny on cost and operational risk.
"Inefficiently managing your corporate actions data is no longer an option, as it has an increasing number of touch points in the trading life cycle. The partnership with DTCC Solutions will help clients achieve a consolidated view of corporate actions data alongside other types such as pricing or reference data," he adds.
DTCC's feed provides access to pre-cleansed corporate actions data for all downstream processes. The interface allows clients to populate their in-house repository and link to various other data types, including instrument and pricing data.
Dan Thieke, VP Product Management from DTCC, said, "Although corporate actions data has always been important for the back office, firms are quickly beginning to realise that front office visibility can enhance trading strategies and improve portfolio pricing. By partnering with Asset Control, we are also giving our clients greater transparency of where their data is stored, improving its traceability and manageability."
