DTCC’s GCA Validation Service provides a standardized source of accurate and timely corporate action announcement information, giving customers global coverage for securities traded in the Americas, Europe and Asia. The service is provided by Global Asset Solutions LLC, a wholly owned subsidiary of DTCC.
Darryl Twiggs, Product Director, SmartStream, explains “The Event Manager module in SmartStream’s TLM Corporate Actions can now provide SmartStream customers who subscribe to the GCA Validation Service with a link to the GCA Validation Service’s “Master Record” – a scrubbed and validated corporate action announcement. The provision of this comprehensive, precise and timely corporate actions information is a fundamental step in automating this critical back office process.”
“We welcome the contribution by SmartStream to help the industry access our validation service,” said Brett Lancaster, Vice President at DTCC. “This new mapping capability will provide easier access to DTCC’s GCA Validation Service and eliminate time-consuming, labour intensive steps, helping customers lower risk and drive down costs.”
Lancaster pointed out that corporate actions are one of the last significant areas of risk associated with largely manual and non-standardized processing in the securities sector. “Automation of corporate actions is a significant priority for the financial services industry,” added Lancaster.
The new adaptors in TLM Corporate Actions load key GCA Validation decision-making details directly into the application in whole. Whilst TLM delivers the core mappings for the GCA Validation feed “off-the-shelf,” clients are also provided with codeless configuration tools to meet any specific needs they may have.
In addition to providing corporate actions critical data to customers, TLM Corporate Actions enables clients to make their election on entitled positions using either the Event Manager software module or the web enabled Voluntary Response Tracking (VRT) module. Twiggs, comments, “The combination of accurate corporate action data and an application that allows clients to respond to mandatory and voluntary events provides a powerful solution allowing firms to take immediate action and manage the risks surrounding timely responses.”

“It is pivotal for a Corporate Actions solution to offer premium quality global Corporate Actions data. With these new adaptors, SmartStream is now making this key data available in near-time and providing the application for clients to take action” says Lou Longhi, Managing Director, SmartStream Americas.