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Shenzhen Stock Exchange selects SWIFT’s Corporate Actions solution

Exchange looks to boost efficiency

Left to right: Chunfeng Jiang, R&D Dept II, Shenzhen Securities Communication Co Lt. Zhang Shao Lian, Marketing Department Product Manager, Shenzhen Securities Communication Co Ltd. Wang Shufang, Marketing Department Product Manager, Shenzhen Seurities Communication Co Ltd. Fu Dewei, Exeutive Vice General Manager, Shenzhen Securities Information Co Ltd. Patrick Yeh, Head of Sales Services, Asia Pacific, SWIFT. Victor Sheng Zou, Assistant President, Shenzhen Stock Exchange. Pascal Roland, Senior Manager, Securities Market Infrastructures, SWIFT. Ian Johnston, Chief Executive, Asia Pacific, SWIFT. Adam Wilson, Senior Manager, Securities Markets Asia Pacific, SWIFT. Li Qin, Senior Manager, Listing Qualifications Department, Shenzhen Stock Exchange. Gu Zhizhong, Senior Manager China, SWIFT

The Shenzhen stock exchange has signed a memorandum of understanding with SWIFT to use the cooperative’s Corporate Actions solution.

Given the complexity and diversity of corporate actions messaging, with over 60 different event types, automating the CA process is notoriously difficult for the securities community: custodian banks, asset managers and broker/dealers.

“In choosing SWIFT’s Corporate Actions solution”, says Ian Johnston, Head of Exchange is making a serious commitment to addressing this challenge and is leapfrogging many financial institutions in developed countries.”

Says Sheng Zou, Assistant President of the Shenzhen Stock Exchange: “From the beginning, we have been looking to ways to increase efficiencies within the exchange and to broaden the information flow to our clients and we see that SWIFT is important in helping us achieve this goal. Through SWIFT we also hope to open us services to foreign institutional investors and promote our market to a broader community in the future.”

The Shenzhen Stock Exchange joins several other Asia-Pacific stock exchanges in the SWIFT community. Other SWIFT clients in the region include the Shanghai Stock Exchange, as well as the exchanges in Australia, Singapore and Indonesia, which is about to go live. “Since all of the exchanges partner with the same custodian banks,” points out Johnston, “Shenzhen had another compelling reason for choosing SWIFT: all these custodians already work with corporate actions messaging formats. This will benefit all custodian banks in China in reducing risk and improving efficiency."