Financial Markets software specialist, Mondas PLC announce today that the London Stock Exchange's CA feed has been added to Mondas PLC's list of proven ISO 15022 data feeds for its flagship Radica CAPS Corporate Action software solution.
Financial firms will benefit from reduced data handling costs and improved accuracy.
Managing and validating corporate actions data is a significant challenge for financial institutions simply because there is so much data and a great deal of it is paper based, which makes it error-prone. Financial institutions and technology vendors have worked closely together to develop solutions to automate the flow and improve the accuracy of corporate action data.
Product experts from Mondas are committed to a rigorous testing programme for the ISO 15022 Corporate Action and Income event types. ISO 15022 is becoming the de-facto standard for communicating corporate action event details to arrest the growth of otherwise traditionally manual and volume sensitive procedures.
Now, institutions will be able to receive corporate actions data feeds from the Exchange directly through Mondas' Radica CAPS. The interface will allow Mondas' clients to automate the capture of global corporate actions through the Radica CAPS software platform.
"This relationship with the London Stock Exchange further extends the capability and appeal of Radica CAPS and allow our users to benefit from even greater flexibility in the automation of corporate action processing" says Jarlath McGee, Chief Executive Officer of Mondas. "This partnership ensures that our position as the leading vendor in this area is strengthened still further."