Fidelity ActionsXchange has added a new Web-based notification and response offering, ActioNResponse, to its suite of data enrichment, validation and communication solutions.
Customizable to each client’s preference, ActioNResponse is a unique workflow platform that supports a fully automated, end-to-end solution for the processing and delivery of timely and accurate corporate actions information.
This innovation is designed to help broker-dealers, asset management firms, hedge funds and global custodians improve overall efficiency by replacing what has traditionally been a manual and fragmented process with a comprehensive and fully automated solution. Additionally it is designed to reduce the associated burden of risk and costs, and allows customers to completely manage corporate action information and communication throughout the full lifecycle.
“This new notification and confirmation component – combined with our full spectrum of multi-sourced corporate actions announcement capture and validation offerings - represents an innovative, holistic corporate actions solution for the organizations we serve,” said Laura J. Pollard, executive vice president and head of Fidelity ActionsXchange.
“The automated confirmation and acknowledgment capability - in particular - effectively completes the entire corporate actions management process and will help the organizations we serve to mitigate risk, improve efficiencies and reduce costs.”
Complete Repository of Information
As a workflow platform, ActioNResponse creates a complete and continuous repository of notification and response information that enables portfolio managers and operations staff to gain complete transparency into the corporate action process in real time, with configurable views and reporting, tailored to match the company’s preferences.
With the flexibility to support SWIFT (the industry standard format for event data), as well as fax, email and other client-specific data formats, ActioNResponse automatically creates the notification event for all eligible corporate action types. Notification is then released to portfolio managers, delegates and other interested parties at broker-dealers, asset management firms, hedge funds and global custodians via configurable views.
Users enter responses indicating elections and utilize a set of work list tools tailored to their preferences. Custodian instructions are created, validated and efficiently transmitted and a record of the confirmation of receipt is recorded. Other system features include:
Portfolio manager calendar view for all upcoming events ? Mobile device-enabled for portfolio manager notification views and election processing
Flexible integration with client’s systems
Single sign-on and personalized settings for notification memo alert and delivery to recipients
Audit features support corporate governance and risk management
“As the complexity of corporate action events continue to increase, the market is demanding a deeper level of coverage and support to manage the associated risks, something only a complete, multi-source data validation and notification solution can provide,” said Pollard.
