The Depository Trust & Clearing Corp.’s (DTCC) ISO 20022 messages will be ready for implementation in November. The pilot program, which started on April 25, comprised four corporate actions users including BNY Mellon, Brown Brothers Harriman, JPMorgan Chase & Co. and National Financial Services. The pilot tested corporate actions announcements for all event types, such as dividends, principal and interest and redemption and reorganization events. Eventually, all clients of the parent Depository Trust Co. will have to move to the ISO 20022.
Click here for the release from Business Wire.