Fidelity Quietly Shutters ActionsXchange; Low Margins of Corporate Actions Biz Blamed
Officials remain silent on the closure, which has been in the works since last year, sources say.
Fidelity Investments is in the process of shutting down its Fidelity Corporate Actions Solutions (formerly known as Fidelity ActionsXchange) business line and its corporate actions data validation service, prompting an exodus of clients to alternative solutions, WatersTechnology has learned.
The firm decided to bow out of the space in August 2019, sources say, and clients have spent the past year identifying and migrating to alternative providers. The vendor informed clients but has not made
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