The Depository Trust & Clearing Corporation (DTCC), SWIFT and XBRL US have created a Stakeholder Group as a part of the Issuer to Investor: Corporate Actions initiative. The corporate actions project was launched in May to improve the processing of corporate actions data in the U.S. The U.S. Issuer to Investor Stakeholder Group is composed of key players from the industry and will represent the needs of the corporate actions reporting and processing supply chain.
The group will be divided into three subgroups: Issuers, Intermediaries and Investors. It will provide input, make recommendations and help articulate the pros and cons for electronically capturing data directly from issuers and their agents in a standardized format at the point at which a corporate action is announced, the organizations said in a release. Each group will be tasked with providing input to the current process as well as determining what changes would be required if issuers produced corporate actions messages in XBRL format aligned with ISO 20022.
The Issuers are represented by AGL Resources, Duke Energy, ENGlobal, Pfizer and United Technologies, and by issuer agents including Merrill Corporation, NYSE Euronext and PR Newswire, among others. The National Investor Relations Institute (NIRI) has also joined the group to observe and to provide an investor relations perspective.
Investors are currently represented by AllianceBernstein, Goldman Sachs Asset Management, State Street Global Advisors, T. Rowe Price and Vanguard.