Information Mosaic, the global leader in advanced post-trade automation solutions, and DTCC Solutions LLC, a wholly owned subsidiary of The Depository Trust & Clearing Corporation, have entered into a Certified Software Partner Agreement.
Information Mosaic's award-winning corporate actions automation solution, IMActions, will be the application certified by DTCC in conjunction with its Global Corporate Actions Validation Service (GCA VS Service).
The new certification agreement developed by DTCC Solutions combines its award-winning corporate actions data feed, GCA VS, with the complete downstream corporate actions processing functionalities of IMActions. The resulting integration removes much of the financial risk and inefficiency long associated with manual corporate actions processing and further addresses client need for 'straight through processing'.
Doug Jeffrey, President - Americas for Information Mosaic, commented, "Information Mosaic is pleased to enter into this agreement with DTCC Solutions as the goals of each of our respective firms are very much aligned. The focus for Information Mosaic has always been to automate post-trade processes, whether it's trade capture, settlement, or, as in this case, corporate actions. DTCC Solutions has developed its services with the industry in mind, and the GCA VS Service is a good example. By providing a cleansed, global corporate actions feed, they are directly addressing the operational risk inherent with manual announcement handling. In addition, both firms are committed to using industry standards and the most current, open, and scalable technologies."
Daniel Thieke, DTCC Solutions vice president, Asset Services, stated, "DTCC Solutions is committed to working with trusted partners like Information Mosaic who combine business knowledge and modern architecture to develop advanced solutions for the financial services community. By integrating the GCA VS Service feed with IMActions, our joint clients will be able to process accurate and timely corporate actions information in the most efficient manner possible. Information Mosaic and DTCC Solutions are two organizations that continue to enhance their offerings to betteings to better serve the industry."
The Certified Software Partner Agreement is the latest milestone in the long standing relationship between Information Mosaic and DTCC. The two companies have cooperated and worked together on many projects in the past, including interfaces to DTCC's proprietary formats as well as the recent ISO 20022 standard.