This endeavor by TSE and TCS Japan will allow users of NCS to receive corporate action data from TSE without preparing any other proprietary data capturing system, as NCS is ISO 15022 compliant. Furthermore, users can depend on the reliability of this data as it is distributed from the source – TSE – and cost reduction can be achieved by concentrating the data source for Japanese corporate action into this single data feed.
The existing NCS users can apply for free trial of TSE corporate action data from June 1, 2006. The free trial can last up to 2 weeks.
TSE has been offering corporate action data since fall of 2001 through the TMI service. This service has been widely used and relied upon by financial institutions as a primary source for information on corporate actions by Japanese companies due to its comprehensive coverage of all the listed companies in Japan, timeliness of data distribution, and assurance of the quality of the data. TSE currently stands as the sole source for corporate action data in Japan, since all the listed companies in Japan (including companies listed at regional exchanges) are required to announce corporate actions through the Timely Disclosure Network (TDnet) operated by TSE. The TMI service has been systematically linked to TDnet so that no event is omitted from distribution.
NCS Corporate Actions is a next generation corporate event processing system. It allows financial institutions to operate more efficiently and effectively through automation of complex corporate event processing. It is an ISO 15022 compliant system that enables STP of corporate event processing and allows effective exception handling capabilities through end-to-end lifecycle management. It provides its clients with powerful modular components for announcement capture, data scrubbing, notification, entitlement, reconciliation, disbursements, claims and tax processing, workflow management, alerts, and exception handling which help achieve higher STP rates,ates, enhanced client servicing, lower operational costs, and increased efficiency. NCS is being used by leading institutions in more than 35 mature and emerging markets across North America, Europe, Africa, Australia and the Asia Pacific.
This is the first time TSE will provide Japanese corporate action data directly into corporate action data facilitation software. Koichiro Miyahara, Executive Officer in charge of TSE's Information Services, says, "We recognize NCS as a significant system in increasing efficiency of data flow. Not only do we see great commercial merit in cooperating with TCS, but together we expect to further contribute to STP of the financial industry."
"I am very happy that the Tokyo Stock Exchange (TSE), the center of the Japanese stock market, has chosen to employ TCS' NCS system," says Mr. Masahiko Kaji, President of TATA Consultancy Services Japan Limited. "Our NCS system has the merit of having been employed in several other countries' Banks and Custodians. The NCS system promises to furnish information quickly and rapidly to customers of the TSE throughout the world, meaning that from here on we can expect increased activity and even more globalization in terms of stock transactions."