Northern Trust teams with Scorpeo for corporate actions reporting
Northern Trust Corporation has signed for Scorpeo’s services to provide an “innovative” historical corporate actions reporting service.
Scorpeo’s Harmonia solution enables historical analysis to generate “detailed reports to show investors exactly how much value has been missed”, the vendor explains. It will be incorporated into the Northern Trust Historical Corporate Actions Transparency report.
Northern Trust’s corporate actions teams handle 80,000+ corporate action events a year across 105 global securities markets. More than 220 employees support corporate actions across the globe.
According to Chris Barrow, Scorpeo’s head of business development, around one million corporate actions take place every year worldwide, many of which require investment managers to make an election or active decision.
“Election decisions require an investment in time, resource, expertise and a mandate to capture the optimal value, and can have a significant impact on fund performance,” Barrow states.
Robert Angel, head of product and regulatory solutions at Northern Trust, adds that “performance optimisation related to the intrinsic value in corporate actions is often not being achieved with billions of dollars estimated to be missed every year”.
Scorpeo was set up in 2012. Its HQ is in Bermuda, and the firm has offices in the UK and US.