It's a dirty business, but someone has to do it. Such has been the attitude taken by the financial community when it comes to processing corporate actions. Firms have been willing to spend millions of dollars on cross-asset-class trading platforms and processing engines, but corporate actions until recently has been treated as an ugly stepchild.
Now, many firms are coming around to the fact that their mistakes are costing them money--from thousands to millions of dollars depending on the size of the portfolio involved.
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