Corporate Actions special report

corpactions14cover

Click here to download the PDF

The Big Picture

Considering rules and standards that have an impact on corporate actions processing, it appears that BCBS 239 is having a greater effect than the legal entity identifier (LEI) or ISO messaging formats, according to experts in the field who took part in the Virtual Roundtable featured in this report.

BCBS 239 sets out principles for risk data aggregation, as Will Dolan, head of Fidelity ActionsXchange, observes. Corporate actions have to be included in risk considerations, notes Arno Wilhelm of SIX Financial Information, adding that corporate actions should be managed more at the entity level, rather than the instrument level.

This is surprising, since the Roundtable panelists, overall, do not regard the LEI as being that critical for corporate actions. In their view, other identifiers-such as ISIN/SEDOL/CUSIP-are more important, as SEB's Christine Strandberg points out. In the messaging realm, ISO 20022 is now well underway, but its implementation will be a multi-year process. Whatever effects were going to be felt have already been determined.

If anything, the overall message you will find in this report is that corporate actions should be thought of on a macro, overarching level, with less concern for the devilish details. Firms still have to get those details right, but the risk management perspective seems to be the way that industry experts suggest looking at corporate actions now.

Click here to download the PDF

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Enough with the ‘Bloomberg Killers’ already

Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.

Banks seemingly build more than buy, but why?

Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here