The launch of a new equities corporate actions product is expected to bring a number of benefits to the South African financial market, as users obtain standardised corporate action information that enhances the processing of these events.
Strate’s Equities Corporate Actions Subscription Services (ECASS) standardises information to reduce data scrubbing by providing corporate action information in a structured, easy-to-understand manner supplemented with an English narrative. This includes the relevant tax-related information affecting the corporate action.
These efficiencies aim to decrease the operational risks and the potential costs associated with the inconsistencies in the current practices.
The solution provides a single sourced, sacrosanct, standardised format of information that exists for a corporate action announcement, allowing market players and investors to make quick and accurate decisions from a reliable source of information. ISO MT564 (Corporate Action Notification Message) users receive same-day information, while PDF and CSV users receive it the following day.
For further information on ECASS, please contact Gregory Naicker on 011 759 5371 or ecass@strate.co.za.
