The automation and standardisation of corporate actions have been on the agenda for such a long time that progress appears to be moving at a snail's pace. Is the fragmented nature of Europe, derailing the process? The following synopsis contains a quote from a GoldenSource spokesperson, Gert Raeves.

Gert Raeves, vice president of strategic business development at GoldenSource, believes that the market, right now, is not as behind 20022 as might be hoped.

"No-one is very keen to take up 20022," he says. "Proxy voting and shareholder meetings are new standards, but traditional corporate actions are just getting a remix of what existed with the hope that harmonisation will kick in. Large-scale early adopters such as Euroclear will make it a de facto standard, but people have got a lot on their plates. There is no rush when there is no clarity on the finish line. If they have 15022, which is ok, the perception will be that 20022 is not a priority," Raeves concludes.