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Abstract
Corporate action processing represents one of the last
bastions of manual processing in the securities processing
environment. Complexity of processing along with non-standard
nature of many of the actions has made corporate actions
difficult to automate. This also is the primary reason
it shows up as a major impediment to STP efforts and
a major operations bottleneck. Status quo may be about
to change though. Substantial automation in other securities
processing areas, introduction of new SWIFT (Society
for Worldwide Interbank Financial Telecommunication)
standards and introduction of more comprehensive solutions
may force the financial institutions to take a re-look
at the way they process corporate actions.
This white paper outlines the processes and activities
that get triggered by corporate actions announcements.
It analyzes the corporate actions processes and corporate
actions types from automation perspective and concludes
with changes brought about on account of SWIFT 15022
– the emerging messaging standard.
Author
Mandar Joshi
To know more about Wipro in finance, go to www.wipro.com/finance
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