Simulation Testing and Qualification Service (STaQS) for Corporate Actions
Improving automation by helping customers conform to industry market practice for corporate actions messaging
Benefits:
- Improve conformance with industry market practice
- Deal with local variations in world markets
- Boost counterparty and client automation
- Reduce manual steps and exception processing
- Benchmark progress for corporate actions improvement projects
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SWIFT’s Simulation Testing and Qualification Service (STaQS) for Corporate Actions has been developed to support the SWIFT community in implementing and conforming to market practice for their use of ISO 15022 corporate actions messages.
Corporate actions messages that conform with the market practices defined by the Securities Market Practice Group (SMPG) become more predictable and are easier for the industry to automate.
A recent survey by consultancy CityIQ into the progress of corporate actions automation showed how important the industry considers market practice adoption to be in order to ensure high levels of corporate actions STP. The vast majority of respondents to the survey agreed that “Market practice guidelines are critical for achieving STP”.
STaQS for Corporate Actions eases the process of evaluating, self-policing and benchmarking compliance with market practice. By providing a single reference site for testing, STaQS minimises the risk of conflicting interpretation. Regular updates help keep automated processing in step with global and local market practice as it coalesces and is published.
The service compares Corporate Action Announcement and Corporate Action Confirmation messages to guidelines defined by the SMPG, especially the Event Interpretation Grid (for more information visit http://www.smpg.info/). More than 38 markets actively contribute to the refinement and improvement of global market practice in corporate actions through the SMPG.
For more on STaQS for Corporate Actions:
Subscribe to STaQs for Corporate Actions
For further details please contact your SWIFT Regional Account Manager or your nearest SWIFT office.
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