SIX Financial Information launches new Income Distribution Service

Zurich, Switzerland - SIX Financial Information has launched an Income Distribution Service to provide timely and accurate dividend information. During the development phase, SIX worked closely with a client based working group to design a service tailored to the industry’s requirements. A number of leading financial institutions have already subscribed to the new offering.

The new Fund Income Distribution solution was launched as an extension to SIX Financial Information’s award-winning FundsFast module. After identifying that there were additional industry needs within this space, the existing service was extended by fund experts and software developers from SIX and standardized in conjunction with an industry working group. The new Income Distribution Service now provides financial institutions with a managed service for timely and reliable dividend information.

Investment banks and other financial institutions that collect fund income information for their fund universe, need accurate income distribution data as early as possible. Data teams at SIX manage each instrument universe using a monitoring tool developed specifically for this purpose. The teams liaise directly with fund administrators and managers to ensure the reception of up to date distributions as soon as they are available. This bespoke solution offers a large selection of data fields and flexible delivery times with intraday delivery at at least 15-minute intervals.

Martin Cole, Managing Director of SIX Financial Information UK says, “By involving end users in the solution design process, we have developed a service which corresponds precisely to what the industry wants – accurate and timely dividend information, saving them valuable resources to focus on their core competencies.”

By taking in the Income Distribution Service, financial institutions benefit from reduced labor intensive processes and lower costs. In addition, a methodology has been created to provide estimated rates where fund managers’ actual or indicative rates are not available in a timely manner. All data is normalized in a non-coded format for user-friendly client interaction.

About SIX Financial Information

SIX Financial Information is a leading global provider of data services and solutions for financial and insurance firms, corporations and the media. Aggregated in real-time from over 1,500 worldwide sources, SIX’s financial information is comprised of corporate actions, pricing, reference and market data for 16 million instruments and
is unique in terms of information depth, breadth and structure. With offices in 23 countries, SIX combines the advantages of local expertise with global reach to offer financial specialists comprehensive data services for securities administration, risk management and compliance, investment advisory, and portfolio management.

Financial Information is one of four business areas of SIX which offers global premium services in securities trading, clearing and settlement, payment transactions, and financial information.


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