Product Brief
Advent Corporate Actions for APX
Overcome the challenges of Corporate Actions Processing in APX using Advent Corporate Actions.
ACA tracks and consolidates corporate action information electronically from leading, high-quality data sources. ACA delivers the corporate action data you need. It provides information on both US and non-US equities and fixed income and covers virtually all action types, including taxable and non-taxable mergers, combination mergers, name changes, spin-offs, bankruptcies, and others. And, unlike other solutions, ACA consolidates and normalizes action information from several high-quality sources; including:
- Wolters Kluwer - CCH Capital Changes
- ICE Data Services - Xcitek and EXSHARE
- Exchange Data International
Consolidated, Normalized Data
Having inaccurate data can be worse than having no data at all. Fortunately, ACA automatically normalizes vendor data, making the action data you receive remarkably error free. Different field names, lengths, definitions, and formats are electronically scrubbed and mapped into an intuitive, easy-to-understand database. In addition, ACA Specialists analyze and confirm details such as cost basis, taxability, and specific data elements required by APX. The result is accurate data on which to base well-informed investment decisions for your clients.
Seamless Integration with APX
The seamless integration between APX and ACA streamlines your actions processing. ACA automatically receives your list of active holdings via a script each day. In turn, ACA provides you with reports and an automation results email that summarizes equity (US and non-US) and ADR transaction activity that affects you. Simple/mandatory events, such as cash or stock exchanges, can automatically process to the Trade Blotter, and non-simple/mandatory with option transactions, such as mergers with options, will require your review prior to processing. This automation reduces data entry, and eliminates performance errors, increases efficiency by reducing redundant data entry, improves communication, and helps enable straight through processing (STP) within your firm.
Key metrics
- Eliminates the time of gathering data manually
- Provides tax advice from data vendors and issuers
- Advance notification allows for proactive versus reactive processing of events
- Automated corporate action processing is seamlessly integrated with APX
- Keeps front office staff well informed, allowing for timely investment decisions
- Allows for back office efficiency and accuracy, by providing staff with the data they need for posting, reporting, and accounting
- Frees your staff from tedious tasks and increases staff efficiency and productivity
Reports Tailored to Your Holdings and Staff Requirements
Wading through general reports to find the exact information you need can be time consuming and inefficient. ACA creates a set of reports based on your unique corporate actions and holdings. Tailored to the information needs of each employee, these customizable reports enable staff to work the way they want with the information they need—increasing productivity and efficiency. ACA offers powerful report filters that let you shape and sort report information to fit specific requirements. With these filters, you can generate detailed and summary reports based on numerous different parameters, including action type, date ranges, data vendor source, security class, and more.
Direct Delivery of Daily Reports
Direct email distribution provides portfolio managers and other key staff with daily report information. Through ACA, you can send one universal security file with multiple recipient email addresses or individual files with specific email addresses for direct delivery to portfolio managers. Sending the reports via email ensures that important data won’t get misplaced in the flurry of papers that cross your team members’ desks everyday.
Unlimited Access to a Dedicated Team of Corporate Action Specialists
ACA Support Specialists analyze tax opinions, compile reorg transactions, make complex events more clear to users, troubleshoot processing issues and challenge data vendors. They are available to assist with your corporate actions inquiries and train your staff on using the ACA service to its fullest potential. Our specialists work with each provider to get the answers for you. This centralized client service means you never have to contact or challenge data providers, research company websites for reorg details, or solve processing anomalies on your own, saving you a great deal of time and effort.
Advent Corporate Action Alerts
ACA Specialists create ACA Alerts that notify you of revisions and provide tips for processing complex events in APX. These alerts are automatically emailed to you if you hold the security highlighted in the alert. Alerts can also be viewed online.
Advent Corporate Actions®: Your Complete Solution
ACA for APX is the most complete solution available today. It will streamline your corporate actions processing with seamless APX integration and ensure accurate, timely, electronic action data and reports. If verifying information on upcoming actions and processing reorg activities related to your holdings is challenging for your firm, ACA is your solution.
How It Works
APX works together with ACA to simplify the process of gathering and processing action data through the following specific steps:
- 1. Easily send your updated security holdings’ information from APX to the ACA Server.
2. ACA cross-references your securities to an action database, creating current and accurate action records.
3. If using a script, an ACA Automation Results email summarizing transaction activity is sent to you once the script has processed.
4. Review all ACA transactions before download or opt to have simple transactions download automatically, and only review complex events before processing to the APX Trade Blotter.
5. Download reviewed actions to APX with a click of your mouse. The Reorg Utility in APX will run and transactions will automatically post to the Trade Blotter.
For more information, request a personalized demo to talk to an expert about Advent Corporate Actions for APX.
