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Fidelity ActionsXchange Launches Subscription-Based Service

Allows clients to customize their choice of corporate actions data and better control costs.

Fidelity ActionsXchange said the Boston-based company is offering complex corporate actions data as a subscription-based service, allowing clients to customize their selection of data sources.

The new Subscription Based Service (SBS) offers clients the ability to individually choose from an expanded range of commercially available and proprietary data sources as well as tailor event information in their validated record as well, according to today’s announcement from parent Fidelity Investments.

“Subscription Based Service will redefine the corporate actions landscape by creating a more customizable and precise delivery model to better align with our clients’ distinct business strategies,” comments Laura Pollard, EVP and head of Fidelity ActionsXchange. “The service will also extend our clients’ ability to mitigate ongoing risk, a critical function of corporate actions processing.”

Emphasizing choice and flexibility, Fidelity ActionsXchange said the new subscription-based model allows the client to tailor event information in their validated record to more closely align with their unique market, product and asset coverage requirements.” SBS will help clients manage their costs while still closely maintaining strict control and oversight over operational risk, the firm said.

In a prepared statement, James Monahan, executive director and regional head, North America position services at Morgan Stanley, said: “SBS provides us with the opportunity to select the most relevant commercial data sources we want incorporated into our validated corporate actions record, as well as the ability to select the types of information we need to see validated. This added flexibility allows us to manage both our risk and overall data costs more effectively.”

In the coming months, Fidelity ActionsXchange plans to announce the addition of new data sources to the SBS platform that will extend the range of options and risk mitigation capabilities for its clients. ActionsXchange supports more than 4 million equities, fixed income and structured securities subject to continuous monitoring across more than 150 global markets.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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