Pirum is pleased to announce the launch of its Corporate Actions service, CoacsConnect. This revolutionary offering brings much needed 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 centralising 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.
“Robert Frost, Head of Product Development at Pirum said: “This is yet another exciting development for Pirum as we, along with full industry support, continue to evolve our post trade services into the Corporate Actions space. This is the first step on what will become a comprehensive offering to the securities finance market and is, yet another solution launched as part of Pirum’s Future Tech initiative”.
CoacsConnect forms part of Pirum’s broader Future Tech Initiative, which looks to automate and digitalise Securities Finance and OTC processes from front to back.