JPMorgan Worldwide Securities Services has successfully completed a pilot program of Announcement Capture, which generates a “golden record” of global corporate actions announcements from multiple sources.
Announcement Capture is part of JPMorgan’s global straight-through processing program to standardise, consolidate and deliver timely, comprehensive and accurate corporate actions announcement information to clients.
The service collects and compares global corporate actions announcements from a variety of sources. If there are no discrepancies between the sources and full validation checks are met, the information is passed on as the “golden record” (an accurate depiction of the corporate action) in SWIFT formats, thus achieving high straight-through processing rates for clients. If there is a discrepancy between sources, a member of JPMorgan’s corporate actions team in Bournemouth will contact Issuers and local market information providers to resolve the difference and agree the “golden record.”
“Formulating the golden record of a corporate action historically has been a labour-intensive process,” says David Kane, JPMorgan Worldwide Securties Services’ operations executive. “JPMorgan developed Announcement Capture to achieve the highest possible quality and STP rates when creating the record for our clients. Now that the pilot program has been a success, we are rolling out Announcement Capture across the 90-plus markets where we support our clients’ investments.”