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that the model significantly improves efficiencies and STP by enabling timely and accurate dissemination of information directly from the issuers. These kind of initiatives really demonstrate that when the focus shifts towards tackling structured inefficiencies, meaningful progress is possible.
Where is the potential to transform corporate actions for the benefit of the industry? Emerging technologies like AI and blockchain have the potential to bring significant changes. Standardisation is another key factor. If everyone used the same formats and if their systems were able to talk to each other, it would solve many issues and eliminate much of the manual reconciliation that is slowing down the corporate action processes today. It could also lead to more seamless operations. Collaboration is another area of potential. Issuers, custodians and asset managers all need to get on the same page to align on incentives to ensure timely and accurate data sharing. For example, issuers and agents, often act as a primary source of corporate actions data. But without their engagement, custodians and asset managers are left to fill in the gaps. Therefore, developing incentives for these players to provide high quality standardised data could be a transformative shift for the entire ecosystem. Regulation also plays a critical role. It drives alignment as it is often the catalyst in financial industries encouraging standardisation and fostering cooperation. And if you combine these initiatives with a commitment to transparency and collaboration, you could really transform corporate actions into a driver of efficiency and trust for the industry.
What current initiatives are underway to improve the efficiency of corporate actions? At Swift, we ' re actively addressing the inefficiencies. We have a corporate actions programme that we have launched last year. This initiative focuses on critical areas such as integrating corporate actions with post-trade settlement to enhance risk management, supporting regulatory requirements like the ECB’ s transition to
ISO 20022, and exploring how emerging technologies can resolve long-standing challenges. One project we can mention here is Project CALM, which stands for Corporate Actions Life Cycle Management. We ' ve been working in collaboration with Chainlink and other stakeholders in the industry, leveraging AI and blockchain in order to streamline corporate action processes, addressing issues like manual data handling and inefficiencies that ' s associated with it. In the first phase of phase of this POC, we have demonstrated how large language models and a decentralised network can revolutionise the corporate actions. We used AI to extract and standardise unstructured data directly from the issuer announcement and we made this data accessible on chain. So, it reduced the manual intervention. It ensures there ' s real time data availability and it also represents an advancement for the industry because it ' s more inclusive with digital and traditional assets. Another key focus area of CALM is solving the data fragmentation. By creating an interoperable, a unified record that can flow seamlessly in between traditional and blockchain networks, we ' re improving both data accuracy and timelines. As we move into the next phase of the project, the plan is to expand to other stakeholders and we also would like to address more complex corporate actions events. Our goal is to tackle inefficiencies across the entire value chain. We want to drive systemic transformation and we want to set a new standard for how corporate actions are managed.
What ' s your message to the wider industry regarding the future of corporate actions?
At Swift, we ' re really committed to leading this journey, not just as a technology provider, but as a strategic partner to the entire capital markets ecosystem. Initiatives such as Project CALM demonstrate what ' s possible when we come together and innovate and to address industry challenges head on. So as a call to action, we encourage everyone to please reach out and connect with us. Whether you have initiatives on your own or you have a feedback sheet to share or ideas to explore, collaboration is key and we ' d love to partner with you and continue driving further progress together.
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