Market data firm Interactive Data Corporation has made its intra-day corporate actions data available through XSP’s software platform.
As a result of the combination, clients will have the ability to manage and process more than 40 corporate actions event types, including mergers, tender offers, exchanges and rights offerings.
Interactive Data’s Xcitek Corporate Actions service can deliver notifications of newly-announced and revised events to clients every two hours. Intra-day files are delivered to clients in a standard fixed format beginning at approximately 10:00 US Eastern Time (ET) each day. The compilation of the five intra-day files reflects all of the data collected for the standard end-of-day feed, available at approximately 19:00 ET.
XSP’s corporate actions processing software is SWIFT 15022 compliant and accredited with the SWIFTReady Gold Corporate Actions Label. The software platform is designed to mitigate the operational risks and costs associated with corporate actions processing. Currently, more than 30 clients receive Interactive Data’s corporate actions information through XSP’s software platform.
“By providing Interactive Data’s intra-day corporate actions data via the XSP software, clients can manage the downstream processing of this mission-critical information to help further maximise operational efficiency and improve straight-through processing rates,” said Brendan Farrell Jr, CEO of XSP, in a statement.