The Importance of Accurate and Timely Corporate Actions Information
Timely access to Corporate Actions is essential for markets to function correctly. To make informed investment decisions, investors require complete and accurate information about the securities they hold and Corporate Actions associated with them.
However, accessing Corporate Actions information has been a significant challenge for financial market participants due to the sheer volume of data covering public companies worldwide. It has become almost impossible to keep up with all the activities undertaken by companies daily.
Accurate information is also key. Inaccurate corporate actions can adversely affect investment decisions. EDI has delivered corporate actions through SFTP and a live web interface.
EDI’s clients can now receive Corporate Actions in four additional different ways:
Readable Corporate Actions Notices (RCAN)
Readable Corporate Action Notices (RCAN) enable staff to read corporate Action notices the same way they read the news. This innovative presentation enables front- and middle-office staff to engage with Corporate Actions data and communicate its insights to their teams.
With this product, information can be readily shared, opening up a potential for better client communication through less reliance on support teams to manually translate the relevant data to fund and wealth managers.
Pre-RCAN, corporate actions data was confined to machine-readable feeds that were not understandable to non-corporate actions specialists.
US Style Feed
To simplify EDI’s WCA service for the United States financial sector, the US Style Feed incorporates the exact naming conversion used by the US exchanges.
US companies typically announce certain events as splits and spin-offs, unlike the rest of the world, which classifies certain events as sub-divisions or consolidations. EDI now provide feeds in both forms.
Corporate Actions Alert Files
The WCA Alert File notifies clients of upcoming effective and ex-dates on many event types, including dividends, takeovers, and stock splits.
The dates of expected Corporate Actions and distributions determine investors trading or investment decisions. For investors to execute investment strategies successfully, they require timely and accurate customized alert files for upcoming practical and ex-dates.
Clients can receive an alert up to 30 days before the required dates become effective and can determine the frequency of these alerts.
API
The Corporate Action Service can also be offered through EDI’s API developer platform, which uses HTTPS and a RESTful endpoint structure, making it easy to request data from EDI.
Predominantly used by developers, API offers a playground to interact with EDI’s Corporate actions data.
Why choose Worldwide Corporate Actions service?
The Worldwide Corporate Actions service(WCA) covers 45 important events and aggregates Corporate Actions from 150 exchanges worldwide, covering 114 countries. The WCA database is updated four times daily to ensure clients receive timely information concerning each geographic region.
EDI is committed to developing its WCA service to meet clients’ ever-changing needs, EDI has substantially expanded to cover new fields and feeds to ensure the financial sector gets the most up-to-date comprehensive Corporate Actions Data.
Award-winning Corporate Actions Service
Exchange Data International was awarded Best Corporate Actions Data Provider at the Data Management Insight Awards Europe 2022. EDI is pleased to receive this recognition from the financial community for its long-standing Corporate Actions, data and expertise.
The Data Management Insight awards, held annually, aim to recognize the criticality of excellent data management and encourage innovation.
