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Corporate actions STP

Each year listed entities make more than 110,000 announcements to the market. The announcements include key information about the listed entities and their securities, corporate actions and events.  Corporate actions include events such as dividends, entitlement offers, reconstructions and capital returns.

In September 2014 ASX implemented a new process for the announcement of corporate actions (via new ASX Online forms) and the automated capture of data contained in that announcement to facilitate straight-through processing for ASX and its customers.

For issuers, the use of ASX Online forms for announcing corporate actions become mandatory on 29 June 2015.  From this date the use of ASX Online Forms is required to announce dividends/distributions, interest payments/interest rate changes, securities splits/consolidations and cash capital returns.  The substantive information requirements in these online forms are set out in the ASX Listing Rule Appendices 3A.1 to 3A.4.  The online forms are accessible from the “Create Online Forms” menu item in ASX Online for Companies.  Additional user information is available from the ASX Online for Companies log in page. 

 

 

ASX is the source for a large amount of information relating to listed entities and security data, including corporate actions information. Corporate actions information is highly sought after for assessing the activities and performance of a company, and is used to make investment decisions. It is vital that this data is timely, accurate and relevant.

If the announcement is lodged in an unstructured PDF format, the data is then manually transcribed and processed in ASX internal systems, then disseminated in ASX Market Information reference products. The Corporate Information STP initiative improves the current process by allowing companies to input information directly via the new structured ASX Online Forms, with an equivalent PDF announcement produced for the purposes of release to market and publication.

This process improves the speed and accuracy of company announcements, as well as facilitating compliance with the ASX Listing Rules. The initiative has introduced expanded data sets compliant with international standards and new product formats and delivery mechanisms for corporate information.

Benefits of new online forms and STP

Investors receive company data more quickly, enabling more informed and timely investment decisions.

Listed entities benefit from improved workflows and improved compliance with the ASX Listing Rules through validation.

Intermediaries benefit from international standard data sets allowing easier implementation and standardisation of their own systems and services to their customers.

For an overview of the process, please refer to the Corporate Action Listed Entity Data diagram.

More information on the new product service and formats is provided below for market information subscribers.

Implementation material for Market Information Subscribers

Recent articles and publications

ASX talks about corporate action automation and ISO 20022 at SIBOS 2014:

 

ASX talks about corporate action automation at SIBOS 2013 - summarised in the ISSA Newsletter October 2013

ASX joins a panel discussion hosted by Finextra to discuss the current state of corporate actions   - view the video here

Have your say

ASX will continue to engage in industry consultation on this initiative.  Stakeholders will have the opportunity to comment on key deliverables developed by ASX.

To find out more about the initiative, contact us.