Interactive Brokers selects Pirum to automate corporate actions
28 January 2025 US
Image: ProstoSvet/stock.adobe.com
Automated global electronic broker, Interactive Brokers, has adopted Pirum’s CoacsConnect to automate corporate actions for its clients worldwide.
The offering provides a centralised solution for managing corporate actions, including income claims and voluntary corporate actions functionality.
CoacsConnect caters to individual requirements and technology stack, and currently processes on average US$3.8 billion of corporate actions daily, Pirum says.
Through the use of Pirum’s solution, Interactive Brokers intends to streamline its operations, clean up receivables, reduce email traffic, and accelerate response times with counterparts.
Automated payments mean quicker payment times and reduced open claim balances, says Pirum.
The firm highlights that the centralised solution offers a valuable risk mitigant, with full audit trails, updates, and alerts to identify and notify of time-critical actions to be taken.
Commenting on the news, Jacob Koopmans, chief revenue officer at Pirum, says: “Even within leading organisations, processing of corporate actions has traditionally relied heavily on manual processes.
“We look forward to collaborating closely with the Interactive Brokers team, to support its roll out of automated and digitalised corporate actions, and to continue developing CoacsConnect, for the benefit of all our clients.”
The offering provides a centralised solution for managing corporate actions, including income claims and voluntary corporate actions functionality.
CoacsConnect caters to individual requirements and technology stack, and currently processes on average US$3.8 billion of corporate actions daily, Pirum says.
Through the use of Pirum’s solution, Interactive Brokers intends to streamline its operations, clean up receivables, reduce email traffic, and accelerate response times with counterparts.
Automated payments mean quicker payment times and reduced open claim balances, says Pirum.
The firm highlights that the centralised solution offers a valuable risk mitigant, with full audit trails, updates, and alerts to identify and notify of time-critical actions to be taken.
Commenting on the news, Jacob Koopmans, chief revenue officer at Pirum, says: “Even within leading organisations, processing of corporate actions has traditionally relied heavily on manual processes.
“We look forward to collaborating closely with the Interactive Brokers team, to support its roll out of automated and digitalised corporate actions, and to continue developing CoacsConnect, for the benefit of all our clients.”
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