The MT56x series of corporate action messages undergo varying degrees of change each year, due to SMPG recommendations and the requirements of market infrastructure providers.

Because the messaging component of CAMS is built using Trace's SWIFTReady accredited messaging software, it is able to readily adapt to evolving standards at low cost and with rapid time-to-market. CAMS' modular architecture insulates business processes from changing messaging standards and delivers a functionally rich and future-proof solution for the corporate actions department.

Linda Letch, Director of Business Consultancy at Trace Financial, said: "This approach insulates the core CAMS application from the impact of purely technical field format and validation changes. The business processing functions are also protected from changes to the position of data elements in a message. Updates to the SMPG Event Interpretation Grid are reflected by making straightforward configuration changes. This considerably reduces the risk associated with implementing these changes, evidenced by the fact that, once again, customer acceptance testing has been completed without a single issue being raised".