Northern Trust has launched Omnium Event Manager, a web-based workflow tool designed to provide asset managers and asset owners with a consolidated view of corporate action and dividend events affecting fund portfolios.
The new tool will enable asset managers to coordinate with brokers and custodians to respond effectively to voluntary events.
Institutional investors with complex investment portfolios can face a high volume of corporate actions, ranging from dividends, stock splits, corporate restructures or acquisitions.
Event Manager replaces the often manual workflow of monitoring and responding to corporate actions with a platform that includes tools for the capture of event and position data, notifications and deadline publishing, and communication with counterparties, explains Northern Trust.
It leverages global Omnium services to promote real-time positions, referential data, event details, and workflow and SWIFT messaging integration.
The platform also includes capabilities such as interactive dashboard engagement and event forecasting; automated alerts and notification suite, and previewing; sending of instructions to counterparties; previewing and posting of entitlements, and automated counterparty mapping.
“The asset servicing industry has struggled to achieve straight-through processing of corporate actions. Managers have traditionally had to manually monitor the effect of corporate actions on their portfolios,” says Dan Houlihan, head of asset servicing, Americas at Northern Trust.
“By digitising this process on Omnium, our middle- and back-office technology platform, we’re empowering asset managers to further automate their middle-office operations,” Houlihan adds.
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