Data provider Exchange Data International (EDI) has launched Readable Corporate Action Notices (RCAN), a new product offering that is aiming to change how the front- and middle-office at buy-side companies interacts with corporate actions data.
RCAN will enable workers to read corporate action notices in the same way as they read the news. RCAN covers 45 corporate events, including dividends, mergers and acquisitions, new listings (IPOs), and stock splits, as well as aggregating corporate actions from over 150 exchanges globally.
Through this revolutionary technology, front- and middle-office workers can meaningfully engage with corporate actions data and communicate the insights contained within it to their teams. Further, fund and wealth managers no longer have to rely on their support teams to manually translate the relevant data. This, in turn, opens up the potential for better client communication as information can be readily shared.
Pre-RCAN, corporate actions data was confined to machine-readable feeds that were largely unintelligible for anyone without a degree in computer science. Translating this data into a story-like, readable structure is not only an important step in the evolution towards intelligent data management across buy-side firms, but it also allows for better communication across teams. RCAN goes further than a typical corporate actions data feed, supplying various change management features and links to related notices.
