Asset Control Uses Fidelity ActionsXchange for Corporate Actions
Asset Control, a provider of financial data management solutions, has enhanced its corporate actions financial data coverage with integration between its AC Plus data management platform and Fidelity ActionsXchange, a Fidelity Investments company and provider of global corporate actions solutions. AC Plus’ integration with ActionsXchange’s ActionService platform provides customers with enriched corporate actions event information, which can be combined with other security and pricing data to enhance quality.
Improving data quality is crucial to mitigating risk associated with processing complex corporate actions, as well as supporting the implementation of intelligent investment strategies. AC Plus supports multi-sourcing, which helps firms improve quality by taking in custodian feeds as well as integrating corporate actions data that are enriched and validated by sources such as ActionService. AC Plus facilitates this sourcing and allows users to monitor and compare events through standard business rules and efficient workflows, while incorporating the effects of corporate actions on other financial data.
Phil Lynch, Asset Control’s president and chief executive officer (CEO), said: “We’re seeing increased focus on corporate actions data across departments at a variety of financial organizations, such as improving data quality before corporate actions processing takes place, or integrating issuer data, security master data or (historical) pricing data as a result of corporate actions. AC Plus’ data feed for ActionsXchange and capability for multi-sourcing will help firms improve quality, minimise information loss and time to market delays, and ensure business continuity.”