A one size fits all approach will not always suit all end users, who may have different approaches. For instance some users will automatically reinvest dividends, and others want to optimise the tax status of tax versus scrip dividends. Some investors would accept a merger offer and others might be happy to spend years holding out for a better offer.
Bespoke APIs are ideally suited to tailoring data solutions to the end users, automating some parts of the process but leaving freedom for them to exercise discretion over more complex corporate actions.
Automation can be applied to gathering, cleaning, harmonising, interpreting and delivering data. It can involve STP (straight through processing). International Securities Services Association claim that, “Message automation improves the ability to process events by 25% and can yield up to a 50% reduction in issues”.
A global presence around the clock is needed to support queries, updates and errors relating to corporate actions in different markets.