Corporate Actions Automation: Getting Closer to Reality?

April 15, 2003


Boston, MA, USA April 15, 2003


Spending on corporate actions projects is projected to total almost US$830 million between 2003-2007 as the securities and investment industry looks to automate one of the last remaining manual areas within the securities processing chain. 

In this new 30-page report, Celent Communications provides asset managers, investment banks/ brokerage firms, and custodians with insights into the current state of corporate actions automation. Technology advancements in the areas of workflow, exception management, and messaging are discussed, as are the obstacles thwarting attempts to fully automate the entire corporate action processing chain. The report also provides guidance for firms evaluating third-party vendors of corporate action solutions. A functional requirement checklist is included for review.

"Corporate actions processing is complicated and the effort and costs required to implement a solution should not be underestimated," states Celent analyst

Pamela Brewster, author of the report. "Given these word of caution, we would recommend that firms looking to automate this process take a phased approach. Identify those parts of the process which not only will benefit most from automation, but also lend themselves most easily to automation." says Brewster. A is available online.

of Celent Communications' Retail Securities & Investments and Institutional Securities & Investments research services can download the report electronically by clicking on the icon to the left.  Non-members should contact for more information.


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Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
Tel: +1 212 345 1366

Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents


Boston, MA, USA April 15, 2003

Corporation Actions  Automation

Return to report Abstract


  Corporate Actions Demystified 5
  Current Operations Fraught with Problems 10
  Increased Global Activity Adds Complexity 11
  Rules-Driven Process Automation 14
  Getting the Data Straight 14
  Reconciliation and Entitlement Issues 15
  Communicating Elections and Notices 16
  Different Constituents/Different Needs 17
  IT Spending on Corporate Actions Solutions 19
  Lack of Broad Adoption of ISO 15022 26
  Erroneous/Inconsistent Data 27
  Lack of Understanding of Requirements 27
  Bias Against Automation 27

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