Singapore Exchange Upgrades Corporate Actions
The Singapore Exchange (SGX) is changing its SGXNews corporate actions information delivery service and SGXNet data entry portal from a PDF distribution operation to a standardized structured data submission service that delivers information through an interactive issuer dashboard, according to Peter Shen, product development lead, market data and access, SGX.
The new SGXNet portal, expected to launch on March 24, will operate using the ISO 15022 standard for corporate actions messaging, says Shen. Those filing corporate actions for distribution through the portal—as required in market regulations—may only submit them in PDF file format if they complete an ISO template form along with it, including key information that the templates can present up front when distributing the notice.
That key information is known as MT564 qualifiers and indicators. The MT564 messaging service, on Swift's network, operates using the ISO 15022 standard. PDF submissions will not be discontinued.
The exchange has spent six months training issuers how to enter data into the new ISO-based template, adds Shen. When the new filing format flows into the SGXNews service, it will automate real-time dissemination of the data and remove intermediate manual touch points for Swift network users receiving information from SGXNews.
SGXNews also distributes a range of types of market data, in XML format. The service will use the ISO 15022 format to distribute Swift-defined corporate actions information.
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