CheckFree successfully completes testing certification.
CheckFree Corporation has confirmed it has successfully completed
the SWIFTNet Testing and Certification Service Proof of Concept (POC)
project for ISO 15022 corporate actions messages. The project tested the
validity of ISO 15022 corporate actions notification messages, submitted
by CheckFree eVent against the recently published guidelines by the
Securities Market Practice Group (SMPG). SMPG is an industry group
focused on defining and documenting securities industry communications
practices using ISO 15022 principles. This POC is the first step in a
SWIFT (the Society for Worldwide Interbank Financial Telecommunication)
initiative to test automated corporate actions notification messages for
compliance with SMPG's guidelines, and also gauge support for
future testing and certification. An additional goal of this initiative
is to look at ways to improve the overall quality and adoption of ISO
15022 corporate actions messages, leading to improved straight-through
processing (STP) and reduced risk in corporate actions processing.
CheckFree's eVent solution successfully submitted more than 55
different event types and their respective corporate actions
notification messages. These messages all conformed to the correct
mandatory and voluntary indicators, as well as any use of option codes
specified for the event in the SMPG guidelines. In all cases, CheckFree
eVent also achieved an extremely high level of STP.