US investment management firm T Rowe Price and Inversis Banco in Spain have both licensed SmartStream Technologies' newly released TLM Corporate Actions software.
Inversis Banco and T Rowe Price are the first two clients for TLM Corporate Actions package, which was launched following SmartStream's acquisition of corporate actions and reference data software provider Effective Solutions Inc (ESI) in March this year.
The product automates corporate actions processes including event management, response tracking and entitlement processing.
T Rowe Price will use the system to integrate its corporate actions processing with its reconciliations and electronic trade confirmations.
Doren Jacobs, vice president, T Rowe Price Investment Technologies, says: "Once the platform is in place, we will be able to extend the use of the TLM platform to support other middle and back office functions, and to use the integrated dashboard capabilities to provide value added information to our front office."