26 February 2017
visit dh.com

Corporate actions automation and standardisation high priorities - survey

24 October 2012  |  2057 views  |  1 Source: Swift

Swift and CityIQ partnered for the third time since 2003 to conduct a global survey of the corporate actions market place and measure the evolution of automation and standardization in this critical domain for financial institutions.

Results of the 2012 survey show that investment in automation of corporate actions processes have continued at a rapid rate since 2008. SWIFT was rated more highly than any other organisation for its contribution to improving data quality and STP in the corporate actions space.

90% of the respondents say that their organisations have automated or expanded automation since 2008, while almost as many organisations (85%) will continue doing so in the near future. The need to reduce costs remains the primary motivation behind automation, closely followed by risk reduction, with quality of service moving higher up the list of drivers compared to 2008.

The results also show that organisations particularly value the importance of data quality and standardisation. Most respondents strongly believe that market practice guidelines are critical for achieving STP and that measuring market practice compliance is taking an increasing importance. SWIFT was rated more highly than any other organisation for its contribution to improving data quality and STP in the corporate actions space.

Organisations also strongly believe that the data quality problem of corporate actions is to a large extent related to the difficulties with interpreting information received from the issuers.
Fabian Vandenreydt, Head of Securities Markets, SWIFT said: "We have worked hard in collaboration with our clients around the world to meet their demands for further automation. This global survey confirms that our efforts are paying off, with our clients benefiting from improved data quality and Straight Through Processing."

"We believe that the size of the survey, its geographical reach and the range of organisations that took part, give us a useful insight into what is happening in the corporate actions marketplace today" commented Paul Wiltshire; Director at CityIQ. "Clearly automation on its own is only part of the story; standardisation is what makes it worth doing" 

Comments: (1)

A Finextra member
A Finextra member | 24 October, 2012, 18:54

It does depend on the definition of STP but as all CA pros know there is no such thing as STP in CA. I always doubt a presentation that starts with STP in CA and i doubt this survey has been conducted by asking the right questions. Afterall you can pitch a question to get the answer you want. However its true that huge benefits have been gained by messageing standards but the standard that is now needed is market practice

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit dh.com visit BNP paribas

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
12758 views comments | 52 tweets | 72 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8586 views comments | 40 tweets | 34 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
6932 views comments | 7 tweets | 4 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6831 views comments | 18 tweets | 13 linkedin
hands typing furiouslyBlockchain Technology
6420 views 1 | 17 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options

Find your next job