Waters Rankings 2023: Best corporate actions solution provider—SIX
Product/service: SIX Global Corporate Actions
Overview
SIX’s Global Corporate Actions service is the result of years of expertise and developments to support the financial services industry with its numerous use-cases. The service is designed to make all processes more efficient for its users, offering them transparent, accurate and real-time corporate actions data. It is available via various platforms, including the firm’s Valordata Feed (VDF), SIX Flex, and cloud-based solutions.
“Corporate actions [data] is very special data to us, as it is for the financial markets, due to the structural role it plays in the sound functioning and financing of the capital markets. As markets continue to increase in complexity, we are constantly working to upgrade and improve our data service accordingly. We genuinely value our proven track record of winning this award for five consecutive years and put our best efforts to carry on.”
The solution
SIX provides its corporate actions in standardized formats for straight-through processing. The data is aggregated from all major financial markets and delivered to customers worldwide in customizable or industry-standard formats (like ISO 15022 MT564), allowing them to tailor the data to meet their needs. More than 50 firms partner with SIX for distribution of aggregated corporate actions data feeding a variety of technology and banking software suites.
Secret sauce
SIX monitors over 35 million instruments and taps into more than 1,800 primary data sources covering over 70 types of corporate actions to help firms manage their risk. Its data offers quality and accuracy, allowing for maximum automation of front- and back-office operations so that user-firms can navigate the complexities of modern-day markets.
Recent milestones
SIX continuously onboards new data sources (now over 5,000 covering reference, market, regulatory and ESG data). The firm has invested heavily in technology and innovation to improve data quality (new AI quality check tools have been implemented) and streamline dissemination of its data―it has developed partnerships with cloud-based platforms and launched its own web API based on the most recent industry standards.
Future objectives
SIX’s experience in the financial data industry combined with its focus on innovation and providing its clients with a variety of solutions puts it in a position to help its clients embrace the future, allowing them to focus on their next moves while taking advantage of the opportunities available to them in the present. To that end, it will develop new delivery channels like performance APIs or internal cloud solutions, and new features such as a corporate event calendar.
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