October 25, 2022 - Broadridge Financial Solutions, a Fintech business, announced that it will enable clients to better automate the processing of Corporate Action and Dividends events managed through the Euroclear CREST platform.
The new solution capabilities further enable financial institutions to simplify and automate their corporate actions processing while reducing the risk and complexity across their business. This service includes event creation, instruction management and payments processing and settlement, with the aim of reducing risk associated with human error and providing significant cost savings for clients.
"This new offering is the latest example of Broadridge driving market innovation through automation across the corporate actions industry," said Michael Wood, Head of Asset Servicing, Broadridge. "Broadridge Global Asset Servicing is the only solution to provide full end-to-end processing automation, real time connectivity to clients' position management systems, market data sources and now direct market infrastructure connectivity.
These developments, coupled with the advanced event processing automation, straight-through-processing and client facing capabilities further enhance Broadridge Global Asset Servicing as the most comprehensive end-to-end corporate actions management solution in the market."
The program will provide common members of both CREST and Broadridge Global Asset Servicing the ability to source CREST event data as part of the announcement capture process, in turn, facilitating the automation of instructions, increasing straight-through-processing rates, and minimizing the risks associated with manual instructions.
This includes the handling of the time sensitive buyer protection process or "ACON" specific to the UK Market. In addition, the systematic management of transformation and payment unique to the CREST platform is fully supported, providing full control over the booking and settlement of entitlements across event types for the Broadridge client.
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