EDI’s Readable Corporate Action Notice (RCAN) product offers ‘readable’ documents that combine all the data elements that would be contained within a typical corporate actions data feed (e.g. a Microsoft Excel, CSV, or XML file), but instead, presents these elements in a human-readable form, similar to a news feed.
Unlike in typical corporate actions feed records, where the parts are separated out and need to be re-linked within a client-side database, the RCAN is a complete message, where all the disparate parts are pulled together.
RCAN goes even further than this, supplying various change management features, links to related notices and even additional data points that are not found in the database from which it is derived. The notices are displayed in logical sections starting with ‘REFERENCE DATA’ in a simple style. The ‘EVENT DATA’ section always follows this and where applicable, ‘RELATED EVENTS’ and ‘PAYMENT OPTIONS’ sections follow.
If the event has been noted the Notice will conclude with a ‘DOCUMENT NOTES’ section which is usually the original source document text on which the EDI event data is based.
The intraday RCANs are provided throughout the day as PDF or XML file formats and can be delivered by email, FTP, API, RSS, or via a search platform. Additionally, start-of-day and end-of-day summary reports are available to clients that wish to receive a consolidated list of this information.