23 October 2017
Register now

ASX delivers corporate actions data over SwiftNet

04 July 2006  |  6834 views  |  0 Sydney Opera House

The Australian Stock Exchange (ASX) has begun delivering a corporate actions data service in ISO15022 format over the SwiftNet financial messaging network.

ASX's intra-day corporate action service comprises four daily distribution runs, disseminating both new corporate action announcements and updates to existing announcements.

The exchange says an industry group consisting of ANZ Custodian Services, Citigroup Global Securities Services, HSBC Securities Services, NAB Custodian Services and Westpac Custodian Nominees has played a key role in developing the specification for the service.

Adam Wilson, securities commercial manager, Swift Services Australia, says the custodian and investment management community has cited corporate action processing as the most inefficient and highest risk part of their business.

"By receiving a standardised Swift message from ASX as a central and authoritative hub, it will significantly improve the accuracy and timeliness of investment portfolio valuations and will therefore deliver widespread benefits to both investment administrators and their end investor clients," he adds.

Mandy Rashleigh, head of ANZ Custodian Services, comments: "In addition to improved STP and reducing operational risks in corporate actions, this global best practice initiative enables custodians to focus more on value-added corporate actions information and analysis services to clients."

ASX says the Swift corporate action service forms part of its recently-launched range of reference data and corporate action services, called ReferencePoint.

The London Stock Exchange began distributing corporate actions updates in ISO 15022 format over Swift in August 2004, while in January 2005 the Tokyo Stock Exchange linked its Tokyo Market Information service (TMI) to SwiftNet.

The Johannesburg Stock Exchange and the Singapore Exchange (SGX) also use the Swift network as a delivery channel for corporate actions data.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Corporate actions impact trading, share prices - study

Corporate actions impact trading, share prices - study

18 May 2006  |  10098 views  |  0 comments
JPMorgan puts corporate actions documents on the Web

JPMorgan puts corporate actions documents on the Web

08 June 2005  |  6437 views  |  0 comments
Singapore Exchange to distribute corporate actions via Swift

Singapore Exchange to distribute corporate actions via Swift

08 April 2005  |  6476 views  |  0 comments
Clearstream talks up corporate actions

Clearstream talks up corporate actions

18 January 2005  |  5608 views  |  0 comments
Tokyo Stock Exchange to distribute corporate actions data over SwiftNet

Tokyo Stock Exchange to distribute corporate actions data over SwiftNet

12 October 2004  |  9731 views  |  0 comments
LSE delivers corporate actions data over Swift

LSE delivers corporate actions data over Swift

16 August 2004  |  8640 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
18425 views comments | 24 tweets | 36 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
14884 views comments | 23 tweets | 31 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10795 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10233 views comments | 13 tweets | 10 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job