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European Firms to Spend €€30m on CA Data Scrubbing by 2010

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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.

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