Every day, financial institutions are inundated with news of various corporate actions from a range of sources, including information service providers, broker/dealers, sub-custodians, global custodians, investment managers, depositories, exchanges, news feeds, trade journals and the Web. The information is used to service proprietary and customer positions manage portfolios and make decisions related to sales, trading and arbitrage. The information may be confusing, contradictory or sometimes incorrect. This results in labor-intensive and time-consuming processing to reconcile and cleanse the data.

CreditDimensions (CDI) analyzes a broad array of corporate action information, including data sourced from a wide range of commercial information and news providers. This eliminates the current need for each firm to perform this work itself, simplifying the entire process from the initial announcement capture through data validation. The main objective of the capturing corporate action on daily basis is to keep track of any happenings in the corporate world that are having an impact on one or more entities around the world. Thus, in the process keeping an up-to-date information about the entities and their hierarchies, as on date.

CDI Process to Track Corporate Actions

Subscription:
CDI will use these sources just as an alarm bell. As and when a corporate action related to Inscope entities is traced on the above source/sources CDI CA team will cross check the same on the Corporate Site/Group Site/Related Regulator's site/Related Incorporation authority's site/ Approved sources and will update the related entity accordingly.

Direct research
CA team members will subscribe to press releases sections of the entity groups, which are in CDI Scope. If the Entity groups don't provide subscription, the CA team will check the press release section of the CDI Inscope Entity groups manually. As the population of CDI Scope groups is large, CA Team will track the press release sections of every group on weekly basis.

CDI-Website Watcher
CDI uses this tool for tracking change in information as it happens at the source. This tool can be configured to read data directly from the database and compare with the information published at the online source. This way CDI analyst works only on the trggers and able to manage large database size.