Is there a data feed that consolidates US equity corporate actions (dividends, splits, etc.), similar to the way the Securities Information Processors (SIPs ... CTA/UTP) consolidate and distribute trades and top-of-book quotes? Or would one have to go to each exchange (NYSE, Nasdaq, CBOE, etc.) to get that?
Short answer: There's no single source that is accurate in in this area. Longer answer: Norgate Data takes and sample multiple corporate action feeds to compare and contrast. Norgate Data quite often questions our sources on this and often have to make our own (informed) decisions on the corporate action. Summary: Norgate classifies corporate actions as: Capital-related: splits, reverse splits/consolidations/bonus issues of same security and similar. Special distributions: Special dividends/distributions, spinoffs, LT/ST capital gains, Return of capital etc. Ordinary distributions: Ordinary divdends/distributions Interesting: We are regularly contacted by our contracted sources (including Tier-1 vendors) to ask us our opinion on complex corporate actions, especially the surviving entity in a merger, or the form of a demerger event. Divergence: Interpetation of corporate actions are the main cause of divergent data from one data vendor versus another.
No, you don't have to go to each exchange to get that. Algoseek delivers US equity data from the full SIP (Securities Information Processors) feed via our Equinix co-lo servers. Our data includes all trades and quotes, including corporate events such as dividends, splits, etc. published to every exchange as well as FINRA.