MEGACOR, Vermeg’s end- to- end Corporate Actions application, has completed the SWIFTNet Testing and Certification Service Proof of Concept (POC) project for ISO 15022 corporate actions messages.
The POC is a SWIFT initiative to improve market practice and the quality of corporate action messaging, to improve Straight Through Processing (STP) and a reduction of risk in the complex area of handling corporate events.
“We have strived continuously to maintain MEGACOR totally up to date with the latest developments in market practice and we therefore found the SWIFTNet POC a valuable benchmarking tool,” says Christian Cure, Vermeg’s EVP of Sales. “We are delighted that the successful completion of the POC confirmed MEGACOR’s high quality of 15022 messaging and its high level of STP.”
“Vermeg’s participation in SWIFT’s proof of concept has definitely contributed to our initiative to provide a test and qualification service,” adds Max Mansur, the Product Manager at the Swift Securities Industry Division. “This underscores Vermeg’s commitment to deliver industry market practice through their products.”