SIX unveils new bot providing clients enhanced insight into corporates’ movements

The launch follows that of the Corporate Action Calendar by SIX in September which allows clients to track and process upcoming events including M&As, dividends, and stock buybacks.

SIX has launched a new automated software application, SIX Bot, aimed at providing clients an enhanced view of market movements through wider access to corporate actions data. 

The move comes on the back off surging client demand for insight into where corporates are moving and why.

Speaking to The TRADE
Annelotte De Nanassy, senior product manager, financial information at SIX, explained: “SIX Bot was created as a direct result of feedback from our clients. Historically, monitoring corporate actions has been a highly labour-intensive process, costing the back-office departments of asset managers and investment banks significant time and money.

“The key objective SIX has with these types of innovations is to make data relating to corporate actions more freely accessible, increasing workflow efficiency for processing teams.”

The new tool built allows financial market professionals to ask intuitive questions relating to corporate actions events and provides information on over 70 corporate action event types. 

This is relayed to more than 600,000 financial market professionals on markets’ infrastructure and technology platform, Symphony, while real-time data sharing platform ipushpull will enable chat and data integration with Symphony for the application.

Speaking in an announcement, De Nanassy highlighted that the offering comes as the market seeks to manage the increasing complexity and volume of corporate actions through more automation.

“The SIX Bot will optimise the current workflow within corporate actions teams, offering higher operational efficiency. This provides firms with a competitive edge in what is a historically difficult area of the market to process, putting them in a much better position to service their clients.”

SIX Bot integrates into existing team workflows, specifically answering simple requests with a corresponding ISIN code. The product is designed to return corporate actions data, which includes: event type, key dates and history.

The launch follows that of the Corporate Action Calendar by SIX in September which allows clients to track and process upcoming evets including M&As, dividends, and stock buybacks across all their portfolio companies. 

Robert Friend, head of market solutions products and partnerships at Symphony, said: “We are very excited to partner with SIX, a global leading provider of reference data and bring their Corporate Actions Bot to Symphony’s more than 600,000 strong user community across front, middle and back office. The bot will revolutionise the way financial market professionals consume and process Corporate Actions. 

“It will transform a currently very manual, time consuming and error prone process into a real time on demand one, supporting the market and regulatory need for fast access to quality data.”