This website sets cookies on your device. By continuing to use our site, you consent to our use of cookies in accordance with our Privacy Policy.

DTCC Data Services | Announcement data services deliver an authoritative and consolidated source of corporate action and legal notice announcements and alerts for DTC-eligible securities. The services provide timely access to documentation as well as descriptive detail behind key corporate activity.

 


CORPORATE ACTIONS

A corporate action is any event that brings material change to a company and affects its stakeholders. This includes shareholders, both common and preferred, as well as bondholders. These events are generally approved by the company's board of directors; shareholders are permitted to vote on some events as well. DTC’s Corporate Actions Messaging provides announcements for Distributions, Redemptions, and Reorganizations.

  • Distributions - DTC offers notifications for distributions arising from the servicing of the approximately 3.5 million securities eligible at the depository, including cash and stock dividends, principal and interest, capital gain distributions, and other events.
  • Redemptions - DTC offers notifications for redemptions including full and partial calls, final pay downs, maturities, and other events.
  • Reorganization - DTC offers notifications for reorganizations arising from the servicing of the approximately 3.5 million securities eligible at the depository, including exchange offers, conversions, Dutch auctions, and other events.

 

CA WEB TUTORIAL

caweb introimage

announcements1

WHAT IS ISO 20022?

ISO 20022 is a standard for developing financial services messages which provides the financial industry with a common language to capture business transactions and associated message flows. ISO 20022 includes both securities and payments messages within its scope, and is founded on modern data modeling techniques and business process analysis.

announcements1

WHAT IS ISO 20022?

ISO 20022 is a standard for developing financial services messages which provides the financial industry with a common language to capture business transactions and associated message flows. ISO 20022 includes both securities and payments messages within its scope, and is founded on modern data modeling techniques and business process analysis.

ISO 20022 Benefits

BENEFITS OF ISO 20022:

  • Flexibility – both in terms of its content and tailoring of output. As new corporate actions are developed, the messaging standard can change to meet the demands of the business, not the other way around.
  • XML Syntax – due to its widespread support, XML allows for easier processing and more efficient yearly maintenance.
  • Schema Validation – used to confirm that each data element is populated with a valid value.
  • Greater Straight-Through Processing (STP) – corporate action events will be announced using a data model that conforms to market practice, which also contains less narrative or “free text” and more fielded and tagged data.
  • Unique Corporate Action ID for Each Event – can be tracked through the life cycle of the event – from announcement, to election, entitlement, and payment.
  • Enhanced Data Elements – a more comprehensive and granular number of data elements, which allows for greater accuracy and, ultimately, less processing risk on the part of the customers.
  • Maintenance – the yearly standards process requires DTCC to constantly review, scrutinize and maintain its standard to ensure compliance with market practice. This in turn will lead to less ad hoc maintenance and instead institute a systematic approach to the business rules driving the file formats, not the other way around.
  • A Global Standard
    In defining a new model for U.S. and global corporate actions, DTCC worked closely with SWIFT, ISO 20022's registration authority. DTCC then worked with the Securities Markets Processing Group (SMPG) and the International Securities Association for Institutional Trade Communication (ISITC) to develop proposals for changes to the ISO 20022 standard as it related to corporate actions. These proposals were reviewed and approved by the Securities Standards Evaluation Group (CA SEG), a group of international industry experts who accept or reject changes to the ISO 20022 standard’s repository. DTCC then presented the proposals to the Corporate Actions Maintenance Working Group, a group that is responsible for all annual ISO standard release changes for evaluation and admission for the final country vote.

Perhaps the most important benefit to remember about adopting the ISO 20022 messaging standard is that it provides a common language, complete with its own ever growing dictionary, enabling businesses in the financial industry to communicate corporate action information quickly, easily and precisely. It offers consistent message standards across the industry.

Key Concepts

The ISO 20022 data model for corporate actions is aligned with the ISO standard and matches the ISO 20022 model closely, but there are a few differences, noted below.

  • A complex event is sometimes split into multiple events for processing purposes, such as the delivery of rights in a distribution event, followed by an elective event to exercise those rights.
  • The identification of the event is a key component in the ISO model. A corporate action identification number is issued by DTCC for each DTC-eligible event and will remain consistent throughout the life of the event. DTCC will provide this official reference number ONLY through an ISO 20022 message for DTC-eligible securities.
  • ISO 20022 uses its own set of event type codes to define the event and how it must be processed; in some cases the level of granularity is different from DTC function codes.
  • A critical data item for each event is the mandatory/voluntary indicator, which shows whether an event is mandatory without options, mandatory with options or voluntary.
  • ISO 20022 seeks, wherever possible, to avoid the use of narratives and free text; there will, however, still be occasions where data must be supplied in text form.

{ifaq view=|category| id=|1145| showtitle=|0| showdesc=|0| }

Choosing a Network

DTCC Corporate Actions messages ISO 20022 messages will be transported using one of two networks:

Messaging Options SMART Network SWIFT Network
All Messages Real Time MQ  InterAct Store and Forward
Batch Slices / 
End of Day Files
NDM/FTP  FileAct

 

Customers considering using the SMART network should contact their DTCC Relationship Manager to determine if they have a SMART circuit currently in place. If so, DTCC will perform bandwidth utilization studies on the current lines to determine if an upgrade to a larger circuit is necessary. There is no cost for transmitting messages via SMART, but customers do have to pay for the circuit itself. Pricing – which is a direct pass-through from the telephone company servicing the line – is fixed based on circuit size.

SWIFT

Customers considering the SWIFT network should contact their SWIFT Relationship Manager for provisioning and pricing details.

Ultimately, these communication methods will allow DTCC clients to benefit from:

  • Increased availability and timeliness for corporate actions data: Customers will benefit from the enhanced processing engine that allows for corporate action messages to be updated and published throughout the day. Updates will be applied to existing events at intervals for dissemination.
  • Subscriptions: Subscription options exist for eight different event groups, enabling participants to choose to receive messages intra-day or end of day using various message protocols, depending on the urgency of the event.

Documentation

Data Dictionary

DTCC’s Legal Notice System Data Service (LENS) provides a comprehensive, searchable library, updated daily, of legal notices concerning DTC-eligible securities that are published and furnished by third-party agents, courts and security issuers.

Legal Notice System

#NameDescriptionAdded On
1Legal Notice System Data Service (LENS) Frequently Asked QuestionsLegal Notice System Data Service (LENS) Frequently Asked Questions

This document answers questions frequently asked about the LENS Data Service.

Apr 16, 2018
2Legal Notice Systems Data Service (LENS) HelpLegal Notice Systems Data Service (LENS) Help

This documentation outlines use of the LENS system.

Mar 29, 2018
3LENS Bankruptcy Example 1LENS Bankruptcy Example 1Oct 19, 2016
4LENS Bankruptcy Example 2LENS Bankruptcy Example 2Oct 19, 2016
5LENS Liquidation ExampleLENS Liquidation ExampleOct 19, 2016
6LENS Tax Information ExampleLENS Tax Information ExampleOct 19, 2016
7LENS Transfer Agent ExampleLENS Transfer Agent ExampleOct 19, 2016

 




The Corporation Actions Web (CA Web) Tutorial provides an overview of the CA Web platform.

Category: Corporate Actions Web
Views: 499