HSBC Securities Services (HSS) has implemented CheckFree's eVent software to provide automated end-to-end corporate actions processing to investment administration clients.
CheckFree says eVent will automate the announcement capture and validation of HSS's multiple data sources, creating corporate actions master records for downstream processing and accounting updates.
All external communications have been implemented and streamlined using the Swift ISO 15022 message suite for corporate actions to ensure high straight-through processing (STP) rates are achieved, says the vendor.
Alex Powell, global chief operating officer of HSBC Securities Services, says: "The automation of corporate actions is a notoriously difficult problem to solve, which is why we engaged CheckFree's specialised knowledge and solutions to assist us with this project. A key selection criteria was the overall flexibility and scalability of CheckFree eVent, as well as its proven technology."
HSS also uses the CheckFree TradeFlow platform for trade confirmation and settlement.