Pirum Systems unveils corporate actions processing solution

Pirum Systems has launched a solution for corporate actions processing as part of its ‘Future Tech’ initiative.

COACSConnect is a “revolutionary offering that brings much needed risk reduction, connectivity, and automation to the processing of both mandatory and voluntary corporate actions,” Pirum says.

Leveraging its “unique network and connectivity in securities finance”, Pirum’s COACSConnect service aims to enable market participants to create, match and disseminate corporate action related notifications.

By centralising these processes Pirum promises to allow market participants to settle claims quickly and resolve differences in a highly secure and fully audited workflow.

COACSConnect will also “greatly reduce the friction and inefficiencies” that exist in the post-trade securities finance operational landscape, Pirum adds.

In a statement on the launch, Pirum's head of product development Robert Frost says: “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”.

The Future Tech Initiative looks to automate and digitalise securities finance and over-the-counter processes from front to back.