Financial institutions in Continental Europe spent some €200 million on internal and external corporate actions solutions in 2006, with 75 per cent of that spend going on inhouse development, according to a recent report from analyst Celent, Corporate Actions Automation in Continental Europe. Celent expects this proportion to decline to 55 per cent by 2010, resulting in an increase in spending on third party corporate actions services from €46 million annually to €113 million by 2010, a five year compound annual growth rate of 20 per cent. By 2010, Celent expects Continental European institutions to spend more than €30 million on corporate actions data scrubbing services.
A-Team Insight Blogs
European Firms to Spend €€30m on CA Data Scrubbing by 2010
With Brexit behind us and the UK establishing its own regulatory regime having failed to reach equivalence with the EU, financial firms face challenges of double reporting, uncertainty about UK regulation, and a potential exodus of top talent. The data management response is not easy and could stretch some firms to the limit as they...
EFA, a provider of administrative services to the fund industry in Luxembourg, has selected NeoXam’s Impress Regulatory Edition hosted with NeoXam-as-a-Service to help meet its regulatory goals. EFA was already using NeoXam GP, the vendor’s back-office investment accounting tool, and selected Impress Regulatory Edition as it needed a dedicated platform to industrialise operations, as well...
The Data Management Summit Europe Virtual brings together the European data management community to explore the latest challenges, opportunities and data innovations facing sell side and buy side financial institutions.
They may be complex and burdened with a bad reputation at the moment, but derivatives are here to stay. Although Bank for International Settlements figures indicate that derivatives trading is down for the first time in 10 years, the asset class has been strongly defended by the banking and brokerage community over the last few...