COPENHAGEN, Denmark (SIBOS 2005) - With SIBOS starting this week, AIM
Software, a leading provider of reference data management and risk
management solutions, announced the release of its GAIN Corporate Actions
Diary System (CADS), a new module of its flagship software platform GAIN,
for managing corporate actions data delivered via ISO 15022 or other
Corporate actions are historically being seen as the least automated - and
therefore most labour-intensive, error- and risk-prone areas in data
processing within financial institutions. The recent AIM Global Data and
Risk Management Survey shows a growing demand for the automation of
corporate actions, as about 30% of close to 1,800 responding financial
institutions plan to increase the level of automation for corporate actions.
Companies seem to realize that they are facing serious operational risk and
huge potential losses in this area.
A high degree of STP (Straight Through Processing) in corporate actions can
therefore be seen as business critical, and automating even a part of the
corporate actions workflow can lead to substantial benefits in terms of
increased staff productivity and risk reduction.
Martin Buchberger, Head of Marketing & Sales at AIM Software, says: "The
driving force in corporate actions processing are errors and the associated
costs which occur due to miscommunication and disregarded financial
information. In the context of the current regulatory environment, such as
Basel II and Sarbanes-Oxley, the GAIN CADS module proactively addresses the
operational risk associated with exceptions around corporate actions data."
The GAIN CADS module grants access to high quality reference data, corporate
events and pricing data from leading back-office and real-time market data
vendors and fully supports the ISO 15022 corporate actions messaging format
that is more and more adopted by key providers (e.g. SWIFT, Telekurs
Financial, Reuters, FT Interactive Data, WM Datenservice, and Bloomberg).
GAIN CADS is designed for a fast implementation and extends AIM Software's
product line, GAIN, which operates as a centralized reference data
management and risk management platform that aims at cutting the costs and
risk associated with back office processes.
"Our new corporate actions module underlines AIM Software's commitment to
offer best practice solutions that are aligned with market needs. We are
looking forward to offer this new extension to our existing clients who use
GAIN worldwide and to companies who intend to improve their corporate
actions workflow," Buchberger states.