22 February 2018
visit www.ebaday.com

DTCC adopts ISO 15022 messaging standard

20 July 2005  |  1503 views  |  0 Source: DTCC

The Depository Trust & Clearing Corporation (DTCC) announced today the adoption of the ISO 15022 international messaging standard for its Global Corporate Action (GCA) Validation Service to meet global interest in the service.

In addition, several corporate action solutions providers have certified their interoperability with ISO 15022 GCA Validation Service output. These include Checkfree, Information Mosaic, Mondas, N Tier, Vermeg, and Xcitek.

The GCA Validation Service provides a centralised source of "scrubbed" information about corporate actions, including tender offers, conversions, stock splits, and nearly 100 other types of events for equities and fixed-income instruments traded in Europe, Asia-Pacific and the Americas. The service delivers comprehensive, accurate and timely information, helping to reduce operational losses and optimise front-office trading. It is provided through Global Asset Solutions LLC, a DTCC subsidiary.

"The implementation of ISO 15022 addresses the growing interest among financial services firms worldwide for a central source of global corporate action announcements," said James Femia, DTCC managing director and head of the Global Corporate Action business. "Our service centres in New York, London and Shanghai make the GCA Validation Service the most comprehensive corporate actions resource available in the global marketplace."

"Many European and Asian firms use the ISO 15022 messaging format," said Steven Cotton, DTCC's GCA European Relationship Manager based in London. "Expanding access to the GCA Validation Service with 15022 will make it easier for any firm – whether a bank, broker, investment manager, hedge fund or insurance company, no matter where they are located – to begin using the GCA Validation Service. And by partnering with these corporate action solutions providers, we're striving to give our customers the greatest level of flexibility in how they access the service."

The ISO 15022 format is being offered in addition to the GCA Validation proprietary format, which is now used by a number of global customers of the service. "We also offer a real-time Web browser application for GCA Validation, making it easier for both front-office traders and back-office professionals to access GCA announcements from their desktops."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.nextgenbanking.co.ukRegister for the webinar

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10341 views comments | 15 tweets | 13 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8580 views comments | 13 tweets | 12 linkedin
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
8360 views comments | 13 tweets | 6 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
7654 views 3 | 7 tweets | 1 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7309 views comments | 8 tweets | 12 linkedin

Featured job

Find your next job