Swiss American Securities Inc (SASI) says it has improved the process by which it collects, sorts, verifies and delivers corporate actions data to clients.
“Reconciliation and delivery of information has been sped up and the number of instructions that can be processed has increased due to the addition of SWIFT MT564 corporate actions messages,” says a spokesman for SASI.
The move addresses directly an area identified as having room for improvement in the 2004 Global Custodian agent bank survey. Though SASI was top-rated in the US market for the first time in 2004, corporate actions was seen as a relative weakness.
SASI says it is working on other service enhancements. Current projects include the development of an automatic invoicing system, expected to be ready by the end of the second quarter, and completion of the migration to SWIFTNet/FIX.