Traditionally, corporate actions processing at financial institutions has been manual and complex, with thousands of events being communicated daily via different channels. Missed or improperly handled corporate action events not only impact a financial institution’s bottom line; they can impair client service levels and present audit and reputational risks.

SmartStream, with its TLM Corporate Actions OnDemand platform, delivers a standardised and automated approach to timely and accurate event processing across the complete lifecycle, enabling firms to mitigate risks associated with corporate actions, refine operational processes and deal with incoming tax and regulatory changes. 

Judges were particularly impressed with SmartStream’s implementation of their TLM OnDemand service for a major Japanese securities firm in Hong Kong, a complex SaaS project that automated the collection and scrubbing of corporate actions event data to create a single rationalised event master. This ‘golden record’ information was used to also enable the end-to-end automation of front, middle and back office operations relating to corporate actions, including real-time position management, elections management, and stock and cash bookings to downstream systems. 

The Hong Kong implementation led to the parent entity in Japan using TLM Corporate Actions to service its trading books and desks in Tokyo. As such, a judging panel made up of subject-matter experts and the Regulation Asia editorial team decided to recognise SmartStream for excellence in the project and for achieving a best practice standard for processes around the complete corporate actions management lifecycle.