Pirum Systems announced the launch of a fully comprehensive solution for corporate actions processing , COACSConnect. It is expected to provide risk reduction, connectivity, and automation to the processing of both mandatory and voluntary corporate actions.
Leveraging its unique network and connectivity in securities finance, Pirum’s COACSConnect service will allow market participants to create, match and disseminate corporate action-related notifications. By centralizing these processes Pirum allows market participants to settle claims quickly and resolve differences in a highly secure and fully audited workflow.
In common with all Pirum’s post-trade services, COACSConnect greatly reduces the friction and inefficiencies that exist in the post-trade securities finance operational landscape. It is part of the firm’s “Future Tech Initiative”, which seeks to automate and digitalize securities finance and OTC processes from front to back.
Robert Frost, head of Product Development at Pirum, said in a statement: “This is the first step on what will become a comprehensive offering to the securities finance market.”