The new Web-based version of this straight-through-processing system, Corporate Actions Delivery and Response (CDR), is accessible through Northern Trust Passport and Global Investor Passport portals. There are currently more than 1,000 customers using CDR.
The new version of CDR allows a user to be directly notified via e-mail when there are corporate action events impacting their portfolio holdings. Once notified, the program can remind the user by e-mail of expiring actions requiring a decision as deadlines approach. Users have the option of e-mail notification of new and/or expiring offers as well as voluntary and/or mandatory responses.
In addition, the user has the option to designate who within their organization receives direct e-mail notices of new and pending offers and decisions.
For institutions requiring an authorized signature on instructions, the new version of CDR allows users to print off a hard copy decision sheet, which includes a signature line. Once the authorized signature is received, users can input the decision by accessing CDR.