DTCC, SWIFT and XBRL
US Named Most Innovative Solution Provider by Financial-i
magazine for Excellence in Corporate Actions
11 January 2010
NEW
YORK - (BUSINESS WIRE) - The Depository Trust
& Clearing Corporation (DTCC) announced today that Financial-i magazine has selected DTCC, along with SWIFT and XBRL
US, as the "Most Innovative Solution Provider" for Corporate Actions
for its Leaders in Innovation Awards. Financial-i
features the winners in the Q4 2009 issue of the magazine.
Financial-i’s fourth annual Leaders in Innovation Awards recognize
global transaction banks and financial hardware and software vendors that have
demonstrated an ongoing commitment to innovation throughout 2009 and who have
excelled, in terms of business solutions, across wholesale transaction banking.
The award categories include: payments & FX; securities services; data
management; risk management and network services.
Anita
Hawser, Managing Editor of financial-i, noted in a
press release, “In selecting winners in each category we have tried to focus on
those companies we and our advisory panel believe have that little something
extra that makes their solutions stand out from their competitors in terms of
depth and breadth of functionality, ease of implementation and support and
solutions that are not looking for a problem to solve but actually address real
business needs."
“We
are honored to stand alongside SWIFT and XBRL US as the recipient of
Financial-i’s award for innovation in Corporate
Actions,” said David Hands, Director, DTCC Solutions
LLC. “2009 represented an important year for us as we continued to build
consensus on how to create a seamless corporate action announcement solution
that electronically connects, through the use of global standards, all the
parties in the communication chain from the Issuer to Financial Intermediaries
and finally the Investor. The launch of our global initiative, ‘Issuer to
Investor: Corporate Actions’ (I2I), has, for the first time, brought together
representatives from all the parties involved to address an area of high risk
and cost within the financial services industry.”
The
I2I initiative builds on the work undertaken by DTCC, SWIFT and XBRL US
to promote existing ISO (International Organization for Standardization)
standards for corporate actions and integrates the benefits of XBRL (eXtensible Business Reporting Language) electronic data
tagging technology. For more information please refer to http://xbrl.us/i2i.
DTCC
Solutions LLC is a wholly-owned subsidiary of The Depository
Trust & Clearing Corporation.
UK-based
Financial-i magazine focuses on how technology is
being leveraged to provide business solutions in wholesale transaction banking
About DTCC
The Depository Trust & Clearing Corporation
(DTCC), through its subsidiaries, provides clearance, settlement and
information services for equities, corporate and municipal bonds, government
and mortgage-backed securities, money market instruments and over-the-counter
derivatives. In addition, DTCC is a leading processor of mutual funds and
insurance transactions, linking funds and carriers with financial firms and
third parties that market these products. DTCC's depository provides custody
and asset servicing for more than 3.5 million securities issues from the United
States and 117 other countries and territories, valued at $27.6 trillion. Last
year, DTCC settled more than $1.88 quadrillion in securities transactions. DTCC
has operating facilities and data centers in multiple locations in the United
States and overseas.
Announced by:
Bari Trontz
DTCC