CIBC Mellon has upgraded Workbench, its browser-based, real-time reporting and global market information tool, to provide institutional investors and their investment managers with corporate action announcements as well as class-action notifications.
The upgrade provides institutional investors with real-time corporate action announcements that are specifically tailored to the client or investment manager's information needs. Updates are available online via the Internet.
Users can use the Workbench tool to perform customised searches by account, security, deadline date, eligibility date, update date or action type.
"Online corporate action reporting is a service that has not been widely available in Canada," says Tim Dixon, CIBC Mellon's senior vice president, relationship management. "Offering this tool to our clients and their investment managers will give them faster access to information, allowing them more time to make decisions and respond to voluntary corporate actions," he adds.