HelioGraph, specialists in financial messaging technology, announced the latest sale of their corporate actions processing solution, eVent. KBC Asset Management Limited will implement eVent alongside HelioGraph’s TradeFlow STP platform, which it already uses for securities ETC.
KBC Asset Management Limited (KBCAM), based in Dublin, is part of the KBC Bank and Insurance Group, one of the largest financial groups in Belgium. KBCAM has been using Helio TradeFlow for 2 years and has now decided to implement eVent to reap all of the benefits of having an automated corporate actions process as well.
The most obvious and pressing advantage of implementing eVent is that organisations can substantially reduce the risk that is inherent in processing corporate actions manually. eVent automates the whole process and also allows the corporate action user to monitor and manage the progress of each event from start to finish, thereby ensuring that, as exceptions arise, they can be dealt with in a timely and efficient manner. This automated approach significantly reduces the risk (and cost) normally associated with processing corporate actions.
For fund managers, like KBCAM, as stake holders, the risks are high. Missing a corporate action altogether, or making a rushed decision to sell a stock or exercise an entitlement, can carry a high price tag. KBCAM is now secure in the knowledge that it has enhanced its process which ensures corporate actions are identified and cross-checked at the earliest possible stage and, indeed, assists in the proactive management of all their counterparties. eVent effectively offers an extended time window for the investment decisions that some corporate actions imply.
“Ours is a hugely competitive industry and we are constantly looking for ways to improve the service we offer our customers while reducing cost and risk” comments John Caplice, I.T. Programme Manager at KBC Asset Management Limited “eVent is a unique product which we expect will offer us a unique advantage. The risk reduction offered by eVent was, in itself, enough to convince us of the enormous value of the product.”
This announcement is the latest in a line of successes for eVent since the product’s launch in June 2001. eVent was the first complete corporate actions workflow management solution and is now firmly established as the market leader with users including MFS Investment Management, Commerzbank and now KBC Asset Management Limited.