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Leslie Bonacum
847-267-7153
mediahelp@cch.com
Neil Allen
847-267-2179
neil.allen@wolterskluwer.com

CCH Capital Changes Reports Brings Timely, Accurate Cost Basis Information to Hub Corporate Actions Service

(RIVERWOODS, ILL., June 14) – In an effort to simplify the time-consuming and error-prone process of manually tracking corporate actions, CCH INCORPORATED’s Capital Changes Reports is now offered through Hub Data's new corporate actions processing service.

Hub Corporate Actions, launched in May, is an enterprise-wide, web-based notification service that automates the process of manually tracking corporate actions. CCH Capital Changes Reports includes the CCH Cost Basis Factor™, which allows investment firms to accurately calculate a security's tax cost basis. CCH is widely recognized as the exclusive and definitive provider of cost basis information.

Posting corporate actions in a timely and accurate manner is essential if firms are going to meet straight-through processing goals and prepare to move toward T+1 settlement. If an action is not posted on the proper date, portfolio valuations can suffer an abnormal and unrealistic devaluation, causing costly performance reporting problems. The problem is even greater if incorrect corporate action data is posted, which can result in hundreds or possibly thousands of incorrect transactions to be posted to individual accounts.

"The time and cost of reversing incorrect transactions can be enormous, and in today’s environment where real-time access to information is commonplace, this primary function of tracking corporate actions can no longer remain a manual process," said Bob Huebscher, president of Hub Data. "CCH leads the industry in providing timely, accurate cost basis information, and we’re extremely excited to have this data now available to our clients."

Hub has integrated the CCH information into its service, in addition to corporate action data from Xcitek, Valorinform, and Telekurs Financial. Hub's customers get daily announcements of corporate action events, such as mergers, spinoffs, distributions, bankruptcies, and called bond notifications. The Hub service provides coverage for the full range of U.S. and non-U.S. securities, including equities, ADRs, government and corporate bonds, and municipal bonds.

CCH INCORPORATED is a leading provider of business law information and software. The company tracks, reports, explains and analyzes federal, state and international law, producing approximately 700 print and electronic products. CCH is a wholly owned subsidiary of Wolters

Kluwer U.S. The CCH web site can be accessed at www.cch.com.

Hub Data, based in Cambridge, MA, is a wholly owned subsidiary of Advent Software. Hub offers a full suite of enterprise-wide data management solutions, including services for market data, security master file conversions and scrubs, and custodial data.

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Editor’s Note: For more information or to license Advent Software products, readers can contact Advent Software, 301 Brannan Street, San Francisco, CA 94107; phone (415) 543-7696, or visit Advent’s web site at http://www.advent.com.

Advent Software, Inc. is a trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.

       


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