The Depository Trust & Clearing Corporation (DTCC) has introduced a new low-cost web browser service that offers real-time, unlimited access to all global, validated corporate action information in its database.
To receive more information on the GCA Browser, please click here
The new Global Corporate Actions (GCA) Browser provides a direct connection to the GCA Validation Service database, the DTCC’s centralised source of the highest quality ‘scrubbed’ corporate action announcement information on global securities.
Data on over two million securities
The GCA service team validates data on over two million securities in over 160 countries through an intricate process of mapping, normalizing and consolidating announcement information, generally referred to in the industry as ‘scrubbing.’ The team of 68 experts located in service centers in New York, London and Shanghai then enrich the data through follow-up research, relying on over 200 sources to deliver the ‘golden’ copy of the data.
‘This powerful online tool provides a low-cost entry point to the kind of data once only available to those who subscribed to multiple and expensive data sources,’ says Brett Lancaster, DTCC vice president, GCA. ‘The GCA Browser gives corporate action professionals, researchers, and front and back-office teams easy access to our precisely aggregated and deeply validated corporate actions data so critical to investment decision-making, without the need for sizable integration and implementation costs.’
Stand-alone service available as a subscription option
The browser is available as a separate and stand-alone service offering to new clients or existing clients of the GCA Validation Service. Clients can select as a subscription option whether they wish to view corporate actions against global securities or against US/Canadian securities.
GCA Browser Features
The GCA Browser offers a number of capabilities that streamline access to corporate action information.
• Real time unlimited access to all GCA data in full detail through a secure Web-based inquiry tool
• No need to provide a Security of Interest (SOI) portfolio file
• Expandable search capability to include ‘all exchanges’ even for a market- specific security
• Create and save common searches for re-use
• Create personalized ‘watch lists’ of securities
• View attached documents or Web links (e.g. prospectus or press release) as well as a comprehensive audit trail of when and how the corporate action event was created/updated throughout its life cycle
• Help Desk support request available directly from the application
Financial institutions face the substantial risk and cost of managing the massive amount of raw information associated with corporate actions. Since investors rely on the data to settle accounts and to make investment decisions, one event can have enormous ramifications to an investor who makes a wrong decision based on flawed or untimely data. Industry sources have estimated that up to 10% of the annual cost of processing corporate actions comes from funds reserved for losses attributed to bad data.
About GCA
The Global Corporate Action (GCA) services are offered by DTCC Solutions LLC, a wholly owned subsidiary of DTCC, created to deliver information-based and business-processing outsourcing solutions to financial intermediaries globally.
In 2008, GCA validated, aggregated and provided over one million unique corporate action announcements (mandatory and voluntary) and nearly seven million ‘scheduled payments’ against nearly two million global securities from 160 countries.
To receive more information on the GCA Browser, please click here
