Paris-based financial technology Vermeg has been awarded the new corporate actions SwiftReady Label for its Megagor product. The vendor has also received SwiftReady Gold certification for its securities processing platform, Megara, for the second year.
Vermeg's Megacor is the first product to win accreditation under the new corporate actions category of the Swift labelling programme. The ISO 15022 compliant system automates the whole life cycle of corporate actions, from announcement capture through entitlement calculation, event execution, tax calculation and tax reclaim.
Catherine Marks, Swift Securities Markets, says it was critical that the application provider was able to demonstrate correct usage of the ISO 15022 messages, as well as Swift connectivity.
Additionally, the vendor's custody product Megara has received the SwiftReady Gold Label in the securities custody and settlement category.
Philippe Rey, Vermeg's president, says the accreditation in both categories is evidence of the firm's ability to integrate Swift's evolving requirements into solutions.