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GBST is first to introduce real-time lifecycle management of complex, corporate actions on a global scale with Syn∽CorporateActions

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Published: 04/11/2009

GBST (ASX:GBT), a global provider of technology services to the financial services industry, today announced Syn~CorporateActions to improve the management of complex corporate actions throughout their lifecycles across multiple geographies and markets and deliver the highest levels of straight through exception processing (STEP). As well as versatility, Syn~CorporateActions provides a user friendly environment for modelling all types of corporate actions in multiple markets – keeping asset servicing in step with dynamically changing business needs.

Developed on the next-generation Syn~ platform, Syn~CorporateActions is the first global rules and model-based solution available today. Syn~CorporateActions is designed to automatically track increasingly complex multi-location owner positions instantly, simplify gathering of clean data and the thorough accumulation of coherent positions.

Built in conjunction with Atos Worldline, the exclusive reseller of Syn~ in France,
Syn~CorporateActions has been uniquely adapted to many specific markets around the world, as well as providing a global hub for efficient asset servicing operations. A key advantage over existing products in the market is the ability to calculate entitlements from numerous back office applications and feed the entitlements back to the appropriate back office.

Sunil Shah, chief executive of Global Broker Services for GBST said: “By applying our STEP functionality, Syn~CorporateActions delivers the highest STP rates via our automated interfaces and integrated real-time workflow and monitoring. Nothing on the market comes close to the rapid adaptability of Syn~CorporateActions for meeting end-to-end corporate actions processing in dynamic environments.”

‘We are very pleased with this efficient partnership that will allow us to bring substantial added value to the market with the development of the automation of back-office corporate actions procedures,’ declares Pierre Sence, Financial Markets Product Development manager at Atos Worldline.

Syn~CorporateActions’ advantages include the ability to track location – depots and depository accounts – within owner position while accumulating and scrubbing information from the data vendors. Syn~ also enables positions and open items to be re-worked in realtime.

Syn~CorporateActions ensures information is accurate before the corporate action begins and reduces risk in the processing of corporate actions business in a financial  organisation. Syn~ workflows control each process, create and transmit all relevant messages to all parties concerned, throughout the entire lifecycle of the event.

Points of differentiation

  • Model-based definition of corporate action workflows and varied market practice
  • Real-time reworking of positions and transactions throughout the life of any corporate action
  • Management of multi-location positions held for House or Client accounts
  • Complete automation of all messaging and reconciliations with intuitive user workflow on any exceptions
  • Integration with the Syn~ suite of products including Syn~BackOffice
  • Use of open standards such as XML and JMS (Java Messaging Service) for communication between Syn~CorporateActions and internal and external systems as well as support for specific interface connections such as SWIFT and vendor feeds

Donal O’Brien, who manages business development for GBST Global Broker Services said: “The spreadsheets and other ad-hoc tools frequently in use today are no answer for a problem that continues to grow in complexity and scale. Rising volumes, increasing convolution in tracking multilocation owner positions and the tendency for operations to be compressed into a few days of the year, are placing a strain on the execution and management of corporate action processing.”

“With Syn~CorporateActions, operational personnel are kept abreast of positions held, on a global scale, with a real-time picture of which portion of which book or client position is held at which location. It also provides an easy to use environment for modelling new types of corporate actions in multiple markets,” he continued.

Aimed at brokers, dealers, custodians and third party clearers, Syn~CorporateActions is available now and can either be deployed as an integrated module with Syn~BackOffice or as a standalone corporate action processing engine. Core functions supported include: event capture, event lifecycle management, entitlement derivation, holder notification, movement generation (including adjustments, claims and transformations), settlement and elective event processing.

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