DTCC, SWIFT and XBRL US Launch US Stakeholder Group for Corporate Actions Initiative
The Depository Trust & Clearing Corporation (DTCC), SWIFT and XBRL US have announced the creation of a stakeholder group as a part of its Issuer to Investor: Corporate Actions initiative, which was launched in May 2009, to improve the processing of corporate actions data in the US. Composed of key players from the industry, the US Issuer to Investor Stakeholder Group will represent the needs of the corporate actions reporting and processing supply chain.
The group will be divided into three subgroups – issuers, intermediaries and investors – and will provide input, make recommendations and help articulate the pros and cons for electronically capturing data directly from issuers and their agents in a standardised format at the point at which a corporate action is announced. Each group will be tasked with providing input to the current process as well as determining what changes would be required if issuers produced corporate actions messages in XBRL format aligned with ISO 20022.
The Issuers are represented by AGL Resources, Duke Energy, ENGlobal, Pfizer and United Technologies and by issuer agents including Merrill Corporation, NYSE Euronext and PR Newswire, among others. The National Investor Relations Institute (NIRI) has also joined the group to observe and to provide an investor relations perspective.
In addition to establishing the Stakeholder Group, other key milestones for the initiative include: