SunGard Launches Corporate Actions Service in Singapore

SunGard has expanded its corporate actions business to Singapore.

SunGard’s XSP platform and XSPrisa Software-as-a-Service (SaaS) solutions help broker-dealers, asset managers and financial services firms eliminate traditional manual processing associated with corporate actions.

“SunGard’s XSP’s move to help improve corporate actions processing automation in Asia-Pacific comes at a time when the region is setting plans in motion. Japan is first up to bat by planning to support ISO 20022 for issuer messages by June 2014 and the Australian Stock Exchange is currently working on its plan to mandate the use of ISO 20022 standards for issuers listing on the exchange. Four additional countries—India, Thailand, Singapore, and Indonesia—are live on ISO standards and seven additional countries have projects in progress,” says Virginie O’Shea, senior analyst, Aite Group.

“As volumes and complexity of corporate actions increase, growing operational risk is being managed via costly manual processes. This is especially true in Asia, where the tendency has historically been to manage risk by increasing headcount rather than automation. SunGard’s XSP delivers multiple advanced technology solutions to manage every critical step in the corporate actions lifecycle,” says Harry Rana, director, business development, Asia-Pacific, SunGard’s XSP.