Transforming Corporate Actions for the Digital Era
CAP modernises corporate actions processing through technology, standardisation and trusted event data.
We help financial institutions reduce operational risk, improve efficiency and create clearer workflows across the corporate actions lifecycle.
Industry challenge
Outdated processes and inconsistent data create risk, inefficiency and poor visibility.
Our solution
Standardised data and automated workflows create control, transparency and complete visibility.
The impact
Lower risk, greater efficiency and trusted data deliver better operational outcomes.
What is CAP ?
The Corporate Actions Platform, or CAP, is designed to modernise how corporate actions are processed across the financial services industry.
Corporate actions are critical events that affect funds, securities, investors and intermediaries. They include changes such as distributions, fund mergers, liquidations, name changes, investment objective changes and other events that require accurate communication across the market.
Today, this information is often received through multiple channels and formats, including SWIFT messages, emails, PDFs, fund notices, spreadsheets and structured data files. The same event may be interpreted, checked and rekeyed several times by different participants across the value chain.
This creates duplication, inconsistency and operational risk. Firms need to know what has changed, when it changed, whether the information is accurate and whether the same data matches across different sources.
CAP brings these fragmented inputs into a single platform. It ingests event data, extracts information from documents, compares sources, identifies inconsistencies and supports the creation of a validated golden record.
The platform is designed to help firms move away from manual interpretation and towards structured, machine-readable event data. This makes corporate actions easier to process, easier to evidence and easier to distribute to authorised users.
The objective is simple: to create clearer, faster and more trusted corporate actions workflows for fund managers, custodians, platforms, brokers, administrators, wealth firms and other participants across the financial ecosystem.
Standardised Data
A consistent data model and taxonomy for the entire industry.
Intelligent Automation
AI-powered processing to reduce manual effort and operational risk.
Trusted and Secure
Blockchain and secure infrastructure to ensure integrity and transparency.
The CAP Platform
CAP is built as a modern infrastructure layer for corporate actions processing. It is designed to receive data from multiple sources, convert that data into a consistent format, validate it, identify exceptions and distribute trusted event records to authorised users.
At the centre of the platform is an event data engine. This engine receives corporate actions information from sources such as SWIFT MT564 messages, email attachments, PDFs, fund notices and structured XML files. The aim is to bring fragmented source material into a common processing environment.
Once the data is ingested, CAP applies a standardisation layer. This converts different formats and naming conventions into a consistent corporate actions data model. This helps reduce manual interpretation and gives users a clearer view of the underlying event.
The platform then supports intelligent comparison and exception management. Data from different sources can be checked against each other to identify mismatches, missing fields or conflicting values. Where differences are found, they can be flagged for review rather than flowing unnoticed into downstream systems.
CAP is also designed to support auditability and trust. Key processing steps can be recorded, including data receipt, document extraction, comparison results, exception handling and golden record publication. This gives firms a clearer evidence trail over how each event was processed.
The final output is a validated golden record that can be distributed through platform workflows, APIs, notifications or downstream integrations. This allows firms to consume cleaner, more consistent and more trusted corporate actions data.
The platform therefore does more than store information. It creates a structured operating layer for corporate actions, helping firms improve visibility, reduce risk, automate workflows and strengthen control across the event lifecycle.
Standardise
Transform fragmented inputs into a consistent data model.
Automate
Use intelligent tools to detect issues and reduce manual work.
Distribute
Deliver trusted, validated data to authorised downstream users.
The CAP Stages
CAP is being developed through a phased approach, allowing the platform to deliver practical value early while building towards a broader industry utility.
The aim is not to solve every corporate actions problem at once. Instead, CAP is designed to start with a focused use case, prove the operating model, build market confidence and then expand into wider product sets and geographies.
Phase 1 focuses on the funds ecosystem. This includes funds, ETFs and structured products, where corporate actions data is often fragmented across fund notices, PDFs, emails, SWIFT messages and structured data files. The initial event types include name changes, investment objective changes, mergers, liquidations and distributions.
This first phase is centred on building the core platform infrastructure. That includes the event data engine, ingestion channels, standardisation layer, intelligent document processing, comparison engine, exception workflow, audit trail and golden record distribution capability.
The purpose of Phase 1 is to create a trusted foundation: receive data from multiple sources, convert it into a consistent format, identify inconsistencies, support review and produce a validated record that can be distributed to authorised users.
Phase 2 expands the product set beyond the initial funds focus. Once the core platform is proven, CAP can extend into broader securities-related corporate actions and more advanced workflow requirements. This may include additional event types, deeper governance features, richer exception handling and more sophisticated distribution capabilities.
This phase is about broadening CAP from an initial fund-focused solution into a more complete corporate actions infrastructure platform.
Phase 3 is focused on global scale. Once CAP has demonstrated value in its initial markets, the platform can expand across wider jurisdictions and support a broader financial infrastructure opportunity. This includes scaling across major fund centres, extending the participant network and supporting additional market infrastructure use cases.
The phased roadmap allows CAP to build in a controlled way: start with a high-value problem, prove adoption, expand the product set and then scale internationally.
Phase 1 - Funds
Focus on funds, ETFs and structured products with core platform capabilities.
Phase 2 - Expansion
Expand the product set to broader securities use cases and advanced features.
Phase 3 - Global scale
Scale across global markets and support a wider financial infrastructure opportunity.
Our Goals
Reduce risk
Identify issues early and reduce operational risk.
Improve efficiency
Reduce manual work, checking and reconciliation effort.
Create trusted data
Deliver validated golden records with full source transparency.
Support standardisation
Drive the industry towards consistent, machine-readable data.
CAP has been created to solve a structural industry problem: corporate actions data remains too manual, too fragmented and too difficult to trust at scale.
The platform’s goal is not simply to digitise an existing manual process. CAP is designed to create a better operating model for corporate actions, built around structure, transparency and trust.
Today, many firms rely on teams manually checking notices, emails, PDFs, SWIFT messages and internal records to identify what has changed, what matters and what needs to be acted on. This creates duplication, inconsistent interpretation and avoidable operational risk.
CAP aims to reduce that friction by giving the industry a more standardised way to receive, validate and distribute trusted event data. By creating a clearer source of truth, the platform can help firms move away from repetitive reconciliation and towards higher-value oversight, exception management and decision-making.
A core goal is to improve confidence across the corporate actions lifecycle. Firms should be able to understand where data came from, how it was processed, what changed over time and why a particular record was accepted.
The long-term ambition is to support a more efficient corporate actions ecosystem where data is more structured, workflows are more transparent and participants can operate with greater speed, control and trust.
The Industry Working Group
Industry-led
Built with and for the firms that process corporate actions every day.
Real-world input
Define requirements, test workflows and validate solutions.
Practical outcomes
Create infrastructure that works in real operational environments.
CAP is being shaped with input from an industry working group of major financial services firms.
The purpose of the working group is to help define real-world requirements for a platform that can be adopted across the market. Corporate actions processing affects multiple participants, including fund managers, custodians, platforms, administrators, data providers and wealth firms.
A credible solution therefore needs to be built with industry participation from the outset.
The working group helps validate the problem, test templates and workflows, and support the development of a platform that reflects practical operational needs.
Rather than building technology in isolation, CAP is focused on creating infrastructure that can be tested, refined and adopted by the firms that face these challenges every day.
Governance & Trust
Full audit trail
End-to-end visibility across the corporate actions lifecycle.
Secure infrastructure
Enterprise grade security and ledger based audibility.
Transparency & control
Clear evidence, governance confidence and regulatory support.
Trust is central to corporate actions processing. Firms need to know where data came from, how it changed, who reviewed it and why a particular event record was accepted.
CAP is designed to provide this level of transparency by creating a clear audit trail across the corporate actions lifecycle.
The platform records key processing steps, including data ingestion, document extraction, comparison results, exception handling and golden record publication. This creates a stronger evidence base for operational review, governance oversight and regulatory confidence.
CAP also incorporates secure infrastructure and ledger-based auditability, helping ensure that key records and metadata can be verified and reviewed.
The objective is to give firms more than just processed data. CAP aims to provide trusted data, supported by transparency, control and a clear record of how each corporate action event was handled.
Our Roadmap
1. Build
Deliver the core platform for funds with essential capabilities.
2. Expand
Grow the product set and add advanced features and use cases.
3. Scale
Expand globally across key markets and broader opportunities.
CAP’s roadmap is designed to deliver value in stages.
The first stage is to build the core platform for funds. This includes the event data engine, standardisation model, ingestion channels, document processing, comparison engine, exception workflow, audit trail and distribution capability.
The second stage is to expand the platform into a broader product set. This may include additional securities use cases, deeper workflow features and more advanced governance capabilities.
The third stage is global scaling. Once the platform has demonstrated value in the initial market, CAP can assess further expansion opportunities across Europe, the United States and Asia-Pacific.
The roadmap is deliberately phased. CAP is focused on building a strong foundation first, proving adoption with early users and then expanding into adjacent opportunities.
Market Context
Large Market
Corporate actions impact every participant in the financial ecosystem.
High complexity
Multiple formats, sources and intermediaries create operational risk,
Growing opportunity
Automation and standardisation are driving the need for modern infrastructure.
Corporate actions processing is a significant operational challenge across the financial services industry.
Many firms still rely on manual processes, spreadsheets, emails, PDFs and disconnected systems to interpret and reconcile corporate action events. This creates inefficiency, increases operational risk and makes it harder to maintain a consistent view of trusted event data.
The problem is particularly relevant across the funds ecosystem, where event data needs to move between fund issuers, administrators, custodians, platforms, distributors and investors.
CAP’s initial focus is the UCITS fund market across the UK, Ireland and Luxembourg, where large numbers of funds, sub-funds and share classes create a complex event-processing environment.
The longer-term opportunity is broader. As the market moves towards greater automation, data standardisation and regulatory transparency, corporate actions processing is becoming an area where modern infrastructure is increasingly needed.
Partners & Ecosystem
Built on TURN
Leverage an established network and proven framework
Ecosystem focus
Designed for all participants across the corporate actions value chain.
Infrastructure layer
Enable cleaner, more consistent and trusted event data.
CAP is designed as an ecosystem platform.
The initiative builds on the existing TURN foundation, which provides an established industry network, proven workflow experience and a model for market-wide data distribution.
This gives CAP an important starting point. Rather than approaching the market as a standalone technology product, CAP can build from an existing network of industry relationships and a proven approach to standardised data exchange.
The platform is also designed to work across the corporate actions value chain. This includes asset managers, fund issuers, custodians, administrators, platforms, brokers, wealth firms, data providers and downstream consumers of event data.
CAP’s role is to provide the infrastructure layer that helps these participants interact with cleaner, more consistent and more trusted corporate actions information.