In the fast-moving securities industry of electronic trading and automated pricing, the announcement process of an event initiated by a company that affects its shares – a corporate action – borders on the archaic.
At present, corporate action announcements can be buried in the company’s report and accounts, in the chairman’s statement or in the annual general meeting minutes. This information must then be stripped out, interpreted (or misinterpreted), checked and double checked, and put into an electronic format for processing.
