Corporate action spending to rise
NEW YORK – The financial industry will spend nearly $1 billion on corporate actions processing solutions between now and 2010, prompted by the need for increased automation in the face of rising volumes of corporate actions, according to a new report from research firm Celent.
The industry is expected to spend between $175 million and $220 million a year on these solutions in the next five years.
A 2004 Celent study focusing on the five-year period from 2004 to 2008 predicted annual spending of $170 million and a five-year total of $850 million, says David Easthope, an analyst in Celent's securities and investments group and author of the report. However, he says actual
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