As corporate actions automation becomes an increasingly significant priority for the financial services industry, Mondas PLC, the market-leading provider of Corporate Action software solutions, today announced a partnership with Fidelity ActionsXchange, a leading provider of corporate actions data processing services, that will facilitate the automation of Global Corporate Action data validation.
The new relationship will allow clients working with both companies to receive cleansed corporate actions data feeds from Fidelity ActionsXchange's ActionService product directly through Mondas' Radica CAPS. The interface will allow Mondas clients to automate the capture of Global Corporate Actions and process cleansed data through the Radica CAPS software platform.
Jarlath McGee, CEO, Mondas PLC, commented, "Mondas is delighted to further increase the capability of our Radica CAPS solution by supporting Fidelity ActionsXchange Validation service. This addition will give our customers further flexibility when implementing a fully automated Corporate Actions system. This new alliance between our two organisations will deliver further improvements in reducing operational risk, which still remains a key driver in this market."
David Birdsall, CEO Fidelity ActionsXchange commented, "By forming this alliance we believe Mondas customers will be able to implement the Radica CAPS solution, in shorter timeframes and with less business risk due to the industry proven quality of the ActionService corporate action information service. Our open architecture enabled the integration and mapping of our data to the Radica Caps product, and also supports other proprietary or industry standard data interchange architectures such as ISO or XML."
Fidelity ActionsXchange provides it's customers with the most accurate, timely and comprehensive corporate action information service in the marketplace ActionsXchange receives corporate actions data from multiple sources, using patented technology and experienced industry professionals to compare data, resolve conflicts and augment information.
Based on holdings information supplied by the client, ActionsXchange then provides the client company with a cleansed, consolidated intra-day feed of corporate actions data which can be fed into both front and back office operations including trading, portfolio management, and accounting.
This intra-day feed is supported by real-time Web access to the Fidelity ActionsXchange database, allowing clients to receive up-to-the-minute corporate actions data. The new adaptors in Radica CAPS load key Fidelity ActionsXchange decision-making details directly into the application. While Radica CAPS delivers the core mappings for the ActionsXchange feed "off-the-shelf", clients are also provided with codeless configuration tools to meet any specific needs they may have.