Loomis, Sayles & Company (Loomis Sayles) has signed a five-year agreement with fintech T-Scape for iActs, the company’s corporate actions solution.
The agreement follows recent growth for Loomis Sayles, with its 100 front-office staff and six dedicated corporate actions employees using iActs to process the increased volume of data.
iActs, launched in 2016, gives front-office traders, portfolio managers and other relevant parties the ability to view and elect upon voluntary corporate actions.
Following the agreement, the companies aim to further integrate iActs into Loomis Sayles’ operations through the upload of calculated entitlements. The automatic updates of account positions will improve Loomis Sayles’ control, auditability and efficiency, T-Scape says.
Steve Chittenden, director of investment operations at Loomis Sayles, says: “This new deal continues what has been a highly successful relationship. [The] initial success triggered the development of a successor version of iActs, to which we could migrate our remaining corporate action processes and retire our previous system. With a new deal in place, we can continue to reap the many benefits iActs affords us.”
David Baxter, managing director of T-Scape, comments: “We are immensely proud that Loomis Sayles continues to trust in our abilities to deliver first class solutions and the services that surround them.
“The next stage in our evolution will be the move to iActs version 3. It’s going to be more of an evolutionary leap than a step as we will be bringing many of the ideas, inside and outside of corporate actions, that have been generated over the past few years into it.”
