The upgrade is available via Bank of New York (BNY) Mellon Asset Servicing’s web-based information delivery and transaction platform, which will offer flexibility for managing corporate events, such as tender offers, conversions, mergers, exchanges, maturities, called bonds, rights, warrants, liquidations, bankruptcies, stock splits, stock distributions and put bonds.
Clients can now easily view mandatory and voluntary notifications online and submit an appropriate, timely electronic response for either a single account or a consolidated notification for several accounts. Partial and full responses can also be submitted, while previously submitted responses can be withdrawn prior to the event deadline.
Tim Keaney, Co-CEO of BNY Mellon Asset Servicing, said: Corporate actions risk has been a code red area in the securities industry for many years. We are committed to enhancing our corporate actions processing to improve the efficiency and effectiveness of the organizations we serve. These latest technological advancements are an excellent example of collaborative innovation that highlights our commitment to this important area.
