Vermeg, the Paris-based securities services and fund management software firm, has formed a partnership with data vendor Telekurs Financial to integrate financial information from Telekurs Valordata Feed (VDF) into Megacor, its automated corporate actions processing platform.
Vermeg says VDF delivers static reference and corporate actions data in a structured, encoded form, as well as valuation prices on approximately 1.8 million financial instruments. “With over 50 message types and around 1,500 data fields, the VDF offers an extraordinary depth of data,” says a spokeswoman for the company. “Events and data can be traced back over ten years.”
Megacor is an ISO15022 compliant corporate actions processing system which automates a wide range of events from the initial corporate action data input to its final execution, including data cleansing. The solution is installed at a number of customers, including three global custodian banks processing corporate actions in over 60 markets.
“We are very pleased about our partnership with Telekurs Financial,” says Vermeg president Philippe Rey. “We had already integrated other data feeds in Megacor but the combination of Megacor and the VDF feed will provide our customers and the market – asset managers, banks, in-sources – with an even more powerful integrated solution delivering enhanced value and greater automation around Corporate Actions”.
Vermeg says Megacor is the first corporate actions solution to be accredited by SWIFT with its new Corporate Actions SWIFTReady Label (July 2003) for STP and compliance with securities market practices.
“We are continually committed to establishing partnerships with proven solutions such as Megacor to help our clients streamline their securities processing” says Fabrice Blanc, Head of Marketing & Communication at Telekurs France. “We look forward to working with Vermeg towards this goal”.