SunGard announced today that it has enhanced the corporate actions processing capabilities of SunGard's Global One multi-currency system for international securities lending.
The new capabilities help provide further automation of corporate actions processing to help reduce time, errors and loss of income due to missed corporate actions.
Global One's enhanced corporate actions processing functionality includes the ability to import corporate events data from a customer's preferred supplier, the generation of dividend claim forms, automatic creation and amendment to trades to reflect bonuses and splits, support for security code changes, and the generation of Swift messages for cash dividend payments. Other features include the generation of alerts and warnings when a user processes a trade on a security with imminent events, and reporting on future or historic events.
Brian Traquair, president of SunGard's Global One business unit, said, "Carrying out activities as a result of corporate actions is often a labor-intensive exercise for securities lending trades, yet they are critical to the profitability of a trade. The new corporate actions capabilities of Global One are designed to help remove much of the manual effort and data input errors, and ultimately, to help securities lending participants improve their profitability."