Fiserv Loses Harries to DST Global Solutions, Mulkeen Also Out the Door, But What of its eVent Business?

Geoff Harries DST Following a rather disappointing end of year quarter for its financial segment (see our coverage here) and a dearth of wins for its corporate actions solution eVent over the last 12 months, it seems Fiserv has suffered yet another blow this month with the departure of two of its key staff members: former vice president of its Investment Services business Geoff Harries and former global head of marketing Irene Mulkeen. Harries, who was with CheckFree for four years and then Fiserv for three, has resurfaced at DST Global Solutions, charged with focusing on OTC derivatives processing, among other things.

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03 Mar 2010
 
Fidelity ActionsXchange’s Pollard Talks up Win with Knight Clearing Services and Plans for 2010

Laura Pollard Fidelity ActionsXchange Corporate actions data cleansing solution provider Fidelity ActionsXchange has bagged its first customer of the year with the signing of Knight Capital Group’s clearing subsidiary Knight Clearing Services. Laura Pollard, executive vice president and head of Fidelity ActionsXchange, explains that the vendor has been working with Knight, which is focused on the trade execution and clearing space for broker dealers, for around a year on the implementation. Although this is a win for the more traditional end of Fidelity ActionsXchange’s business, the vendor remains focused on deliverables related to the expansion of its remit, Pollard tells A-Team Insight.

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01 Mar 2010
 
GBST’s O’Brien Discusses ITG Win, Broker Approach to Corporate Actions Processing and Asian Progress

Donal OBrien GBST Following its move into the corporate actions space in November last year (see our coverage here), GBST has bagged its first client in the form of agency brokerage and financial technology provider Investment Technology Group (ITG) and has a number of promising prospects in the Asian region poised to sign on the dotted line, says Donal O’Brien, who manages business development for GBST Global Broker Services. ITG is using the GBST Syn~ solution to meet its back office processing requirements and to manage its corporate actions processing in-house in Europe.

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01 Mar 2010
 
SEC Gets on the Soapbox About XBRL and Corporate Actions, Again

Since its decision to mandate the XBRL tagging of financial reports for US firms, the Securities and Exchange Commission (SEC) has been doing its level best to keep the industry apprised of any possible compliance challenges. To this end, this month, the regulator announced yet another event, in the form of a public seminar on 23 March, to allow firms to pose pertinent questions around these details. The SEC has also this month taken the initiative with regards to educating investors about corporate actions events and has amended proxy rules to allow electronic access to some of this data.

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26 Feb 2010
 
Corporate Actions Data Increasing in Complexity and Frequency, Says BNY Mellon’s Cox

The innovation in the market and the high degree of corporate restructuring going on across industries at the moment has meant corporate actions have become more frequent and much more complex, says Matthew Cox, head of securities data management in EMEA for BNY Mellon Asset Servicing. This, in turn, has meant that banks are being required to invest in their systems to process this data and improve the quality of the data to a more granular level.

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22 Feb 2010
 
Fiserv Overall Revenues Improve in Fourth Quarter, But Financial Segment is Down 4% for 2009

After a difficult third quarter, Fiserv has indicated that its overall financial prospects picked up in the fourth quarter of 2009, with a 2% increase in net revenue on the previous year’s figures at US$1.01 billion. This means that the vendor’s total adjusted revenue for the year was down 1% on 2008, from US$3.89 billion in 2008 to US$3.87 billion in 2009. However, the payments segment of the business contributed the largest percentage of growth for the vendor overall, at 50%, and the Financial segment revenue declined overall for the year by 4%.

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03 Feb 2010
 
Many US Firms Getting Ready Early for XBRL and Considering its Use in the Wider Data Context, Says XBRL US Survey

Many US firms are taking action to get ready early for the introduction of XBRL tags for financial statements later this year, according to a recent survey by the American Institute of Certified Public Accountants (AICPA) and standards body XBRL US. A total of 73% of the 215 respondents had already begun their testing for the XBRL format in November last year, when the survey was carried out. Moreover, the majority of respondents, at 93%, had at least a basic knowledge of XBRL.

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03 Feb 2010
 

 
 

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