GBST, a provider of technology services to the financial services industry, announced Syn~CorporateActions to improve the management of complex corporate actions throughout their lifecycles across multiple geographies and markets and deliver the highest levels of straight through exception processing (STEP). As well as versatility, Syn~CorporateActions provides a user friendly environment for modelling all types of corporate actions in multiple markets keeping asset servicing in step with dynamically changing business needs.
Developed on the next-generation Syn~ platform, Syn~CorporateActions is the first global rules and model-based solution available today. Syn~CorporateActions is designed to automatically track increasingly complex multi-location owner positions instantly, simplify gathering of clean data and the thorough accumulation of coherent positions.
Built in conjunction with Atos Worldline, the exclusive reseller of Syn~ in France, Syn~CorporateActions has been uniquely adapted to many specific markets around the world, as well as providing a global hub for efficient asset servicing operations. A key advantage over existing products in the market is the ability to calculate entitlements from numerous back office applications and feed the entitlements back to the appropriate back office.
By applying our STEP functionality, Syn~CorporateActions delivers the highest STP rates via our automated interfaces and integrated real-time workflow and monitoring, says Sunil Shah, chief executive of Global Broker Services for GBST. Nothing on the market comes close to the rapid adaptability of Syn~CorporateActions for meeting end-to-end corporate actions processing in dynamic environments.
We are very pleased with this efficient partnership that will allow us to bring substantial added value to the market with the development of the automation of back-office corporate actions procedures, says Pierre Sence, financial markets product development manager at Atos Worldline
Syn~CorporateActions advantages include the ability to track location depots and depository accounts within owner position while accumulating and scrubbing information from the data vendors. Syn~ also enables positions and open items to be re-worked in realtime. Syn~CorporateActions ensures information is accurate before the corporate action begins and reduces risk in the processing of corporate actions business in a financial organisation. Syn~ workflows control each process, create and transmit all relevant messages to all parties concerned, throughout the entire lifecycle of the event.
Aimed at brokers, dealers, custodians and third party clearers, Syn~CorporateActions is available now and can either be deployed as an integrated module with Syn~BackOffice or as a standalone corporate action processing engine. Core functions supported include: event capture, event lifecycle management, entitlement derivation, holder notification, movement generation (including adjustments, claims and transformations), settlement and elective event processing.
D.C.