Corporate Actions Processing Systems features

Back to Corporate Actions Processing Systems products

Solutions that manage the identification, notification, decision-making, and processing of corporate events such as dividends, stock splits, mergers, and rights issues that affect securities held in portfolios.

We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.

Decision Management & Elections

Supports collection, validation, and processing of instructions and elections from stakeholders.

Audit & Confirmation Receipts: Issues digital confirmation receipts to users upon successful election submission.
Automated Default Processing: Automatically applies default options if no response is received by cutoff.
Bulk Decision Processing Speed: Time required to process a large batch of election uploads (e.g., 1,000 elections).
Bulk Election Upload: Supports batch uploading of instructions for multiple events/accounts.
Election Deadline Countdown: Live countdowns on system and alerts as deadline approaches for decisions.
Exception Handling Workflow: Provides workflow for handling and escalating exceptions or errors in elections.
Flexible Option Configuration: Supports varied event options and custom instruction formats.
Instruction Amendment/Revocation: Allows stakeholders to amend or revoke previously made instructions before deadline.
Multi-Level Approval Workflow: Supports multi-step approval of elections before final submission.
Online Election Capture: Web-based or portal interface for stakeholders to submit responses/elections.
Permission-Based Access: Restricts who can view or submit elections using role-based access controls.
Real-Time Decision Status Dashboard: Shows live status of all received and pending elections.
Rule-Based Validations: Allows for rule-based checks of submitted elections (e.g., eligibility, max/min choices).
Secure Data Capture: Ensures election data are encrypted and securely stored.
Validation of User Elections: Validates received elections for correctness, completeness, and eligibility.

Event Entitlement Calculation

Automatically calculates the entitlements and positions for clients and investors affected by corporate actions.

Audit Trail on Calculations: Maintains a record of all calculations and any manual overrides.
Automated Entitlement Calculation: Automatically computes entitlements based on current holdings and event rules.
Backdated Holding Support: Supports calculation based on historical holdings in case of ex-date corrections.
Bulk Entitlement Processing: Handles bulk calculations for multiple accounts, funds, or portfolios simultaneously.
Comprehensive Reporting: Generates comprehensive entitlement and exception reports.
Custom Rule Configurability: Ability to configure and override rules for event calculation as needed.
Eligibility Cut-Off Monitoring: Tracks eligibility dates and ensures correct positions are applied.
Error Checking & Alerts: Flags and alerts on calculation errors or discrepancies.
Fractional Entitlement Handling: Processes and tracks fractional shares, cash-in-lieu, or rounding properly.
Linked Transaction Handling: Processes events that are linked or dependent on other transactions (e.g., conditional offers).
Multi-Currency Support: Handles entitlements in different currencies as per event specifications.
Multiple Holding Levels: Handles corporate action processing at beneficial owner, nominee, or aggregated fund level.
Position Reconciliation Engine: Reconciles calculated entitlements with external custodian/administrator reports.
Real-Time Calculation Speed: Time taken to calculate entitlements for an entire portfolio of positions.
Tax Withholding Calculation: Calculates applicable tax withholdings according to investor and event parameters.

Event Identification & Capture

Capabilities to identify, import, and record corporate action events from various sources including custodians, exchanges, and data vendors.

Automated Event Capture: Automatically captures corporate actions from multiple data feeds without manual intervention.
Bulk Event Upload: Allows bulk/event file uploads and batch processing.
Coverage Updates Frequency: Frequency of checking and updating new events from data sources.
Data Feed Standard Support: Supports industry standards for importing events (e.g., ISO 15022/20022, SWIFT).
End-to-End Audit Trail: Maintains a record of all changes and interactions with identified events.
Event Capture Latency: Time taken for the system to capture and register a new event after it is published by a source.
Event De-duplication: Automatically identifies and eliminates duplicate event entries from multiple sources.
Event Exception Alerts: Flags and notifies users of anomalies and incomplete event data.
Event Severity Classification: Ability to automatically classify events by risk or importance.
Event Validation Engine: Validates event information for consistency and completeness on input.
Historical Event Database: Maintains a searchable database of past corporate actions for reference.
Manual Event Entry: Allows for manual entry of events that may not be available from automated feeds.
Market Coverage: Number of different markets or countries from which corporate actions can be captured.
Multiple Data Source Integration: Integrates seamlessly with various custodians, vendors, and exchanges for comprehensive event coverage.
Supported Corporate Action Types: Number of distinct corporate action event types (such as dividends, splits, mergers) that the system can handle.

Event Notification & Communication

Tools to notify stakeholders about relevant corporate actions, distribute election options, and track acknowledgements.

Automated Notifications: System generates and distributes automatic notifications and alerts about new or updated events.
Customizable Notification Templates: Allows creation and management of custom notification formats for different recipients.
Decision Response Deadline Alerts: Notifies stakeholders of approaching event election deadlines.
Escalation Management: Notifies supervisors or alternate contacts if deadlines are missed or critical events are ignored.
Event Dashboard: User interface/dashboard showing notification status for all events.
Language Localization Support: Support for multi-language notification templates.
Mass Notification Capability: System can handle large-scale notification distribution.
Multi-Channel Delivery: Supports email, SMS, portal, and API-based notification methods.
Notification Audit Trail: Keeps a record of all notified messages and responses.
Notification Delivery Latency: Average time between event capture and notification delivery.
Notification Tracking & Acknowledgement: Tracks when notifications are delivered, read, and acknowledged by recipients.
Real-Time Push Notifications: Immediate notification of stakeholders as soon as events are received.
Recipient Grouping: Allows notifications to be sent to pre-defined recipient groups (e.g., portfolio managers, operations, clients).
Secure Messaging: Notifications use secure and/or encrypted channels.
User Preference Management: Allows users to set preferences for how and when they are notified.

Exception Management & Controls

Mechanisms to detect, monitor, resolve, and report issues, exceptions, or breaks at any processing stage.

Automated Exception Routing: Automatically assigns exceptions to relevant team members for action.
Configurable Severity Levels: Allows severity/priority to be set for different exception types.
Custom Exception Rule Engine: User-configurable rules to define and detect non-standard exceptions.
Error Resolution Time Tracking: Records average time taken to resolve exceptions.
Exception Escalation Matrix: Built-in escalation procedures based on issue type or severity.
Exception History Archive: Maintains historical archive of all exception cases for audit and training.
Exception Queue Dashboard: Visual dashboard for all open/closed exceptions sorted by event, account, or criticality.
Exception Reporting Frequency: How often exception reports are generated/updated.
Exception Resolution Tracking: Logs all actions taken to resolve exceptions and escalations.
Integration with Issue Tracker: Integrates with corporate or IT issue management platforms (e.g., Jira, ServiceNow).
Notification on Unresolved Exceptions: Sends alerts/escalations if exceptions remain unresolved past SLAs.
Real-Time Exception Detection: Monitors workflow and flags exceptions instantly for resolution.
Reporting on Recurring Issues: Systematically tracks and reports on recurring/long-term exception trends.
Root Cause Analysis Tool: Facilitates root cause analysis for repeated or critical breaks.
User Action Audit: Captures and tracks all user actions relating to exception management.

Integration & Interoperability

Extent and ease with which the system connects to other platforms, data feeds, and workflows.

API Availability: Offers robust REST/SOAP APIs for data import, export, and integration with third-party systems.
Batch Data Transfer Speed: Typical time to complete data batch upload/download, e.g., for 100MB.
Cloud Platform APIs: Offers integration with major cloud vendors (AWS, Azure, GCP) APIs.
Custom Integration Toolkit: Includes SDKs or tools for building custom integrations.
Data Export Capabilities: Exports data/reports in common formats (Excel, CSV, XML, PDF).
Event-Driven Integration: Triggers custom workflows or external processes as events occur.
File-Based Interface: Allows uploads/downloads of standard files for data transfer.
Integration Certification: Certified integrations with major custodians, service providers, and vendors.
Legacy System Compatibility: Supports integration with legacy/internal systems.
Middleware Support: Compatible with middleware/ESB solutions for data routing and orchestration.
Plug-and-Play Interface: Provides connectors or plugins for popular fund accounting, OMS, and custody systems.
Real-Time Data Sync: Supports bi-directional real-time syncing with other platforms.
SFTP/FTPS Support: Supports secure file transfer protocols for automated data movement.
Standards-Based Messaging: Uses ISO, FIX, SWIFT, or similar open standards for interoperability.
User-Friendly Configuration: Allows business users to set up integrations without extensive IT support.

Processing & Settlement

Handles downstream processing of choices, asset movements, posting to accounting/trading systems, and settlement events.

Automated Processing to Custodians: Sends instructions and settlements automatically to custodians, transfer agents, or market.
Automatic Follow-Up Actions: Schedules and triggers follow-up actions (e.g., cash proceeds, tax forms) on completion.
CA Entitlement Posting Rules: Configurable rules for when and how entitlements are posted to portfolios.
Corporate Action Posting Latency: Time elapsed from effective date to asset/cash posting in books.
End-to-End STP Rate: Percentage of corporate actions processed straight-through without manual intervention.
Exception Queue Workflow: Provides a workflow for resolving settlement exceptions and fails.
Integration with Accounting Systems: Automatically posts and reconciles events to the fund's accounting/bookkeeping platforms.
Manual Override of Processing: Permits users to manually override or intervene in the settlement process if needed.
Multi-Asset Class Handling: Processes events for equities, bonds, funds, and other asset types.
Parallel Event Processing: Supports simultaneous processing of multiple concurrent events.
Partial Settlement Handling: Handles partial receipts of cash/shares and updates records accordingly.
Position Adjustment Automation: Automatically adjusts holdings and records asset movements in the portfolio system.
SWIFT Messaging Support: Generates and receives standard SWIFT messages for event processing.
Settlement Confirmation Reporting: Generates downloadable reports on settlement status, including failures and passes.
Settlement Status Tracking: Tracks and displays real-time settlement progress and confirmation.

Reporting & Analytics

Suite of reports and analytics for events, exceptions, processing, audit, and compliance.

Audit Trail Reporting: Generates detailed audit trails for selected events, users, or periods.
Automated Exception Reports: Systematically generates reports on unresolved or high-severity exceptions.
Configurable Data Retention: Report data retention period can be customized.
Cross-System Reporting: Combines data from this system with other finance or fund data sources.
Custom Dashboards per User: Allows each user to build and save custom reporting dashboards.
Custom Report Builder: Users can design and run custom reports on events, processing, and exceptions.
Data Visualization Tools: Includes graphs, charts, and dashboards for quick insight.
Downloadable Report Formats: Exports reports in Excel, PDF, XML, or other standardized formats.
Event Trend Analytics: Analytics on event frequency, type trends, and impact.
Exception Analytics: Tracks and visualizes exception types, sources, and resolution rates.
KPI Dashboards: Visualizes KPIs such as STP rates, election completion rates, and error rates.
Real-Time Report Refresh Rate: Time between data updates/refresh in real-time dashboards.
Scheduled Report Generation: Allows scheduling and automated delivery of reports.
Standard Report Library: Pre-built reports covering all main workflows/events.
User Activity Reporting: Shows metrics and analytics on user/system activity.

Scalability & Performance

System capabilities to handle increasing transactions, users, and data volumes without degradation.

Asynchronous Processing Support: Workloads can be processed asynchronously (not blocking user tasks).
Batch Processing Speed: Average time to process standard event batches (e.g., 1,000 events).
Concurrent User Capacity: Maximum number of users supported simultaneously with no performance drop.
Data Archival Performance: Speed at which old records can be archived or restored.
Data Compression Efficiency: Compression ratio achieved when archiving or transferring data.
Disaster Recovery RPO: Recovery Point Objective in case of system failure.
Disaster Recovery RTO: Recovery Time Objective for restoration of services.
Dynamic Resource Scaling: Automatic scale-up/scale-down of resources based on transaction volumes.
Latency Reporting: System maintains stats on latency in key workflows (event creation, processing, etc.).
Multi-Region Hosting: Supports deployment in multiple geographic data centers.
Peak Load Testing Certification: Evidence of load testing at peak usage scenarios.
Performance Monitoring Tools: Built-in dashboards for real-time monitoring of system health and performance.
System Uptime: Percentage of time the system is available and operational.
Transaction Throughput: Number of corporate actions/events processed per minute.
Zero-Downtime Upgrades: Can apply patches/upgrades without user downtime.

Security & Compliance

Measures and tools to ensure data security, regulatory compliance, and audit readiness.

Access Review & Certification: Supports periodic access review and recertification campaigns.
Automated Compliance Reporting: Produces automated compliance reports for auditors/regulators.
Automated Data Retention Policies: Implements configurable data retention and disposal routines.
Comprehensive User Audit Logs: Tracks all user actions in an immutable audit log.
Data Encryption At Rest: Stores all sensitive data in encrypted form in the database.
Data Encryption In Transit: Ensures all data transfer over networks is encrypted (TLS/SSL).
Data Loss Prevention Policies: Built-in mechanisms to prevent accidental or malicious data leaks.
Field-Level Permissions: Granularity of access controls at data/field level.
Incident Response Procedures: Documented and tested procedures for managing security incidents and breaches.
Multi-Factor Authentication (MFA): Supports MFA for all user logins.
Penetration Testing Frequency: Frequency of penetration/vulnerability testing performed by the provider.
Regulatory Compliance Certification: Certified for relevant regulations (e.g., SOC2, GDPR, CASS, SEC).
Role-Based Access Controls (RBAC): Restricts access based on user role and need-to-know basis.
Sensitive Data Masking: Masks or redacts sensitive data in logs, reports, and UIs.
Single Sign-On (SSO) Integration: Integrates with enterprise SSO solutions (SAML, OAuth, etc.).

User Interface & Usability

The quality, intuitiveness, and customization of the user interface and user experience.

Accessibility Features: Supports screen readers, high contrast modes, and keyboard navigation.
Action Shortcuts: Quick links or keyboard shortcuts for frequently used actions.
Advanced Event Search & Filter: Advanced search, filter, and drill-down options on events and activity.
Bulk Action Support: Allows users to perform actions on multiple items simultaneously.
Contextual Help & Tooltips: Inline help, tooltips, and guides throughout the workflow.
Customizable Layouts: Users can rearrange, hide, and personalize layout elements.
Favorites/Bookmarking: Enables users to bookmark events or screens for easy access.
Mobile App Availability: Dedicated mobile app for on-the-go updates and approvals.
Multi-Language UI: Interface available in multiple languages.
Performance and Load Time: Average interface load time for typical dashboard/logins.
Responsive Design: Works well on desktops, tablets, and mobile devices.
Role-Based Dashboards: Provides tailored dashboards for different user roles (ops, PMs, clients, risk).
Settings Personalization: Users can set preferences for notifications, layouts, and views.
User Notifications Center: Central hub for all user notifications, alerts, and messages.
Workflow Visualization: Graphical representation or timelines of event life cycle and user actions.

Vendor Support & Service Levels

The quality, reliability, and scope of support and professional services provided by the vendor.

24x7 Customer Support Availability: Customer support is available 24 hours, 7 days a week.
Annual Client Satisfaction Survey: Regular feedback and satisfaction surveys of client base.
Change Request Turnaround Time: Typical SLA for implementing small client change requests.
Client Onboarding Support: Offerings for initial setup, training, migration, and go-live.
Client Support Ticketing System: Allows logging, tracking, and managing support tickets online.
Custom Development Services: Availability of custom enhancement/build services from vendor.
Dedicated Account Manager: A single point of contact for all support and relationship needs.
Disaster Recovery Assistance: Hands-on vendor support in DR/BCP scenarios.
Multi-Timezone Support: Support teams cover multiple time zones for global operations.
Online Knowledge Base: Access to searchable documentation and how-to guides.
Regular Product Updates: Frequency of system updates and feature releases.
Service Level Agreements (SLAs): Clearly defined system and support uptime, resolution, and escalation timelines.
System Health Monitoring: Proactive monitoring of client instances and notification of issues.
Training & Certification Programs: Availability of formal training, documentation, and certification for users.
User Community/Forum: Active user community or forum for sharing knowledge and tips.

Features in Corporate Actions Processing Systems

for Fund Operations