Operations Newsflashes

London Stock Exchange to Deliver Corporate Actions Data via SWIFT Network

The London Stock Exchange (LSE) will deliver U.K. corporate actions data in ISO15022 format over the SWIFT network, and the LSE says it is the first exchange to do so. The LSE will use the industry-recognized standard to deliver the corporate actions data in near real-time throughout the operational day.

By using this new method to automate corporate actions processing further, the risk of data input errors and time delays would be significantly reduced. This will also help move the industry toward corporate actions standardization and straight-through processing (STP), LSE said in a press release.

"Over the past few years that we have spent working towards replacing paper-based data distribution with machine-readable data, we have learned the benefits of adopting uniform data standards. We are confident that our adoption of this IS015022 protocol is a positive and welcome step within the industry," states David Lester, chief information officer at the London Stock Exchange, in the release.

Currently, the LSE uses a SEDOL Masterfile database, which is a service launched in March of 2004, providing real-time universal alphanumeric codes for all global securities. It draws on a team of analysts who scrutinize all regulatory news, correct and clarify errors and conduct further research. Corporate action messages are then sent to customers on an intra-day basis.

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