Oct 30, 2013
Singapore, October 28th 2013 - Standard Chartered announced today that it has completed the roll-out of its corporate actions platform in all 39 markets of the Bank’s securities services network across Asia, Africa and the Middle East. With the new platform in place, the Bank offers sophisticated asset servicing capabilities consistently across its network, helping its clients better manage their corporate actions processes and reduce associated risks, thereby allowing them to focus on pursuing investment growth opportunities.
The platform improves all aspects of the corporate actions processing cycle: it provides a high level of automation and adherence to global market standards in response to rising awareness among investors of the risks and inefficiencies linked to corporate actions. It features new capabilities that simplify day-to-day corporate actions processing and minimise risk exposure. Its high flexibility allows adjustments to client specific preferences, such as tailoring methods and timing of announcement distribution and managing upcoming deadlines through a consolidated dashboard.
The corporate actions platform fully complies with SWIFT standards, enabling straight-through processing. For non-SWIFT users, it offers a full range of alternative real-time capabilities, including automated faxes and emails. Through Straight2Bank, the Bank’s online client Web portal, clients can consult, design and schedule their own reports. This intuitive platform also allows clients to submit secured and straight-through corporate actions instructions with just a few clicks, avoiding the overheads and risks associated with manual instructions.
Commenting on the implementation, Margaret Harwood-Jones, Global Segment Sponsor, Investors and Intermediaries, Transaction Banking, Standard Chartered said: “As an increasing number of clients look to participate in the rapidly expanding range of opportunities in emerging markets, volume and complexity of corporate actions are growing fast. This is further compounded by significant market disparities in the rules and practices governing corporate actions, resulting in inefficiencies and potential risks that can cause the industry a substantial cost amounting to tens of millions of dollars annually. Our new corporate actions platform will help clients efficiently manage these challenges and focus on exploring growth opportunities in emerging markets.”
Alan Naughton, Global Head of Product Management, Investors & Intermediaries, Transaction Banking, Standard Chartered, said: “This is part of our multi-year strategic investment programme aimed to transform our entire securities services operating model to meet increasing client needs in emerging markets. Investors and intermediaries, who are used to sophisticated asset servicing capabilities in developed markets, can now enjoy the same standards consistently across Asia, Africa and the Middle East. This rollout further evidences our commitment to supporting our clients as they continue to expand their own investment activities throughout our footprint.”
With its strong presence in 39 markets, deep local expertise and expanding asset servicing capabilities, Standard Chartered is well positioned to support investors and intermediaries across Asia, Africa and the Middle East.
Re-disseminated by The Asian Banker