Financial services is getting increasingly data intensive with new data sources and new reporting requirements. Business processes are getting more data intensive and operations need to be streamlined to support data driven strategies. Given the diversity of events and data sources, corporate actions has been a thorny area.
Regulation such as the revised Shareholder Rights Directive (SRD II) puts more demands on the turnaround time between company announcements and the moment when firms have to inform their clients that own affected securities. Departments other than asset servicing too, need faster access to high quality corporate actions data, including research and the middle and front office as well as client reporting.