Corporate action errors are costing each of us more than USD2m per year - and data is the root cause for 56% of these errors. What can we do to change that?
Australian corporate actions are complicated and, like many markets around the world, in need of more automation. In the context of our ongoing "Australian Corporate Actions in A Global Context" survey, it's fascinating to be able to dig deep into the topic with Tim Hogben and Jamie Crank from the ASX. Their expert insights and experience give huge optimism about the pace of change in this space - with a clear change path for each of us.
Automating corporate action data flows alone can reduce regulatory penalties by over 20% – and delivers benefits to every part of the process
High complexity events (such as Dutch Auctions and Spin offs) are causing significant operational challenges – mainly because of how much manual effort needs to go into each event.
Investors are feeling the risks from corporate actions more than any intermediary. Should CSDs be allowed to carry such little risk in the process?
46% of our notification messaging is manual today – creating huge risks and timing pressures for our downstream corporate action processing
It costs more to source a corporate action event than it does to process it today. And whilst data sourcing only accounts for 26% of the total cost of a corporate event, it costs another 30% to clean and interpret.
Read the full story here: including all of the statistics and expert insights that you need to plan ahead
With 56% of our costs of a corporate action made up by data sourcing alone, what can be done to reduce the cost and risks that we carry every day.
Download the key statistical insights from our industry-wide research here
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