4Sight Financial Software is launching a new suite of corporate action processing modules for its securities finance, repo and collateral management software solutions.
The software is intended to increase automation in order to reduce manual effort and reduce the chance of errors leading to missed or late claims processing.
It features a workflow-based dividend processor for equity cash dividends and fixed income coupon payments for stock loan, repo and collateral transactions. The system also provides support for non-cash dividends through different configurable event types.
A list of key features includes the ability to monitor more than 50 market event types from creation to completion, a configurable rules-based entitlement engine, automation of the creation of claims, integration with the users email system, integrated payment instruction process, ability to calculate profit and loss for the event, support for new events through configuration and behavior mappings, special tax events support and an optional arbitrage module.
“The aim of these new modules is to reduce the number of manual steps and time spent processing events that would previously have led to missed or late claims and processing”, says Martin Seagroatt, head of marketing at 4Sight. “The new level of automation and system based processing will provide our clients with greater workflow control, help them to exert less manual effort on corporate actions processing and reduce operational risk.”
Recently, both Brown Brothers Harriman and Euroclear upgraded their corporate action systems with the intention to streamline and automate processing.
(OS)