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.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||IT News and Products|
|Publication:||Database and Network Journal|
|Date:||Feb 1, 2007|
|Previous Article:||IT standards hijack.|
|Next Article:||Avanquest launches Parallels.|