Asset Control, provider of financial data management solutions and services, today announced that DTCC Solutions LLC's Global Corporate Actions Validation Service (GCA VS) has been fully integrated into its AC Plus data management solution as standard functionality.
The integration offers Asset Control clients direct connectivity to DTCC's pre-validated corporate actions data, resulting in a dramatic reduction in the cost and risks typically associated with the sourcing of high-quality corporate actions information.
Connectivity to DTCC's GCA data feed, allows Asset Control to offer direct access to pre-cleansed corporate actions data for all downstream processes. The interface allows clients to populate their in-house repository with DTCC Solutions' data and link to various other data types, including instrument and pricing data.
Dan Thieke, VP Product Management from DTCC, comments on the partnership: "Although corporate actions data has always been important for the back office, firms are quickly beginning to realize that front-office visibility can enhance trading strategies and improve portfolio pricing. By partnering with Asset Control, we are also giving our clients greater transparency of where their data is stored, improving its traceability and manageability."
Phil Lynch, CEO of Asset Control, adds, "Following the global financial crisis, corporate actions data has increased in volume and complexity and because of this, it is one of the last sectors in the data management space to be automated. Investors and regulators no longer have the palette for manual processes, especially with such tight scrutiny on cost and operational risk.
Inefficiently managing your corporate actions data is no longer an option, as it has an increasing number of touch points in the trading life cycle. The partnership with DTCC Solutions will help clients achieve a consolidated view of corporate actions data alongside other types such as pricing or reference data."
Asset Control's AC Plus is used to power the data management needs of the world's leading financial institutions. The integration with DTCC Solutions' corporate actions data strengthens AC Plus's already powerful data management capabilitiies and empowers Asset Control clients with the speed and control they need to leverage their corporate actions and market data and gain competitive advantage.
The GCA VS is offered by DTCC Solutions LLC, a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (DTCC).