Billions Lost Highlight Corporate Actions Tech Failures
Corporate-actions processing is rarely viewed as a high priority within trading firms. Like most operational processes, however, they are ignored at their peril, and if neglected, can cause enormous problems for any firm—in fact, they caused $1.65 billion of them last year.
That’s the dollar value placed on lost revenue for untimely, inaccurate, or just plain bad processing of scrip dividends alone, a payment that gives shareholders the choice of receiving a cash dividend, or the equivalent in
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