Monthly Archives: May 2017

Corporate Action Entitlement Processing Automation – The Forgotten STP

Sean Cain, Product Director at Eagle alliance vendor Fidelity Corporate Actions Solutions, discusses the challenges related to the lack of automation in corporate actions entitlement processing and opportunities for straight through processing.


There is an industry need to automate Corporate Action (CA) processing into downstream systems such as accounting, trading, and brokerage systems. As each downstream system is different, and there are currently no industry standards when it comes to CA Entitlements Processing, the vast majority of downstream processing is manual and extremely risky.

The CA industry has made major strides in the past few decades in regards to risk reduction. The industry has done a great job in standardizing and automating CA notifications, instructions, and payments via SWIFT messaging. When you attend industry conferences, much of the discussion is dominated by continued work in these areas. I like to refer to automation of downstream processing as the Forgotten STP, as there is very little industry focus and discussion in this area.

CA entitlements processing automation differs greatly from system to system. As every system is unique, the capabilities of each system and the enhancements required to automate processing in each system is extremely varied. There tends to be a lot of automation in the industry on simple income and mandatory events (cash and stock dividends, stock splits, interest payments, etc). These events are less complex by nature, but do make up a large percentage of the action volume, which is a good start.

There is however a long way to go to automate everything, which should be the end goal for all CA operations teams. There is very little automation on voluntary events and complex mandatory events, yet this is where the majority of complexity and risk is. These types of events can cause significant issues with costly errors and compensation to the front office, business partners, and individual investors. Read More…

Meet…Anjan Bagchee

Anjan Bagchee, Eagle Investment Systems’ new Director of Information Security and Risk (SIRO) for Cloud Services, discusses his new role and highlights how financial services companies can safeguard their own organizations.  

Q: You recently joined Eagle from EnerNOC, where you were responsible for the design, review and architecting of the company’s energy intelligence software and its overall security infrastructure. Can you talk about your transition into financial technology?

A: The nature of what you are trying to protect may change, but the philosophy and strategy of how to protect against the cybersecurity threat is pretty consistent across most industries. EnerNOC, which offers SaaS solutions, provides energy intelligence software and demand-response applications. Similar to Eagle, their value proposition lies in the efficiencies they deliver through technology and new capabilities. However, instead of the SEC, it’s the federal mandates and customer’s security posture defining the requirements for the energy industry.

My role largely revolved around providing the security underpinning for EnerNOC’s SaaS project and its energy intelligence offering. Much of this work was focused on the Internet of Things and application security in the cloud to ensure that we remained well ahead of the curve as these solutions evolved. At Eagle, I was brought in to build upon what is already a really strong foundation as it relates to cybersecurity. To do that, I’m looking to bring a new perspective to the company’s existing program and refine our strategic and tactical approach across Eagle’s solution set.

Read More…

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