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CheckFree eVent Interfaces with Fidelity ActionsXchange

20 June 2006  |  1911 views  |  0 Source: CheckFree

CheckFree Corporation (Nasdaq: CKFR) today announced that its CheckFree eVent product, a powerful automation and workflow solution for corporate actions processing, now offers an ISO 15022 compliant interface to the Fidelity ActionsXchange corporate actions data feed.

CheckFree eVent empowers clients to automatically receive, validate and process corporate actions, from announcement through entitlement calculation to notification and instruction processing, resulting in significant time and cost savings.

ActionsXchange, a Fidelity Capital company developed by Fidelity Investments, is a premier provider of global corporate actions event information. Fidelity ActionsXchange's ActionService product uses multiple commercial data sources to provide accurate, consolidated and client-specific corporate action records on more than 2.5 million securities in the U.S. and overseas. The CheckFree eVent interface helps make it possible for ActionsXchange's corporate action information to be delivered to CheckFree clients using the industry-standard ISO 15022 message format, enabling a complete solution for end-to-end automation and operational risk mitigation.

Dave Birdsall, president at Fidelity ActionsXchange, said, "We are committed to developing relationships with industry leaders such as CheckFree that have extensive experience in SWIFT messaging and share our mission of providing high-quality solutions. CheckFree clients that implement this new format can capitalize on the benefits offered by market standards such as ISO 15022 to better manage risk and the complexity associated with corporate actions processing."

Geoff Harries, director of STP product management at CheckFree Software said, "By working with premier providers such as Fidelity, we are offering CheckFree eVent customers high-quality pre-scrubbed data feeds to enhance the announcement capture functionality delivered through our powerful automation and workflow solution. Thus, we can continue to deliver on our commitment to provide innovative solutions for complex problems that meet the needs of our clients."

With the help of CheckFree eVent, organisations can receive, compare and validate corporate actions data from multiple sources without manual intervention, a process that can otherwise be time-consuming and prone to error. The solution is designed to automate the electronic receipt of notifications and provide online management facilities to direct the entire process. CheckFree eVent brings valuable benefits for fund managers, custodians and brokers involved in both domestic and cross-border securities activity by providing more efficient announcement validation. This can significantly reduce the inherent risk of incorrect downstream processing associated with conflicting announcement data.

CheckFree eVent is SWIFTReady accredited, built on the same financial platform as the SWIFTReady Gold accredited CheckFree TradeFlow solution. More recently, CheckFree eVent has achieved the CityCompass Research B.I.S.S. Gold Accreditation for Corporate Actions Systems. This designation, along with the SWIFT accreditation, further reflects CheckFree's commitment to technology leadership in the corporate actions space.

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