SunGard hooks up XSP corporate actions tool to Swift network
09 April 2014 | 2594 views | 0
SunGard's XSP is now providing connectivity to the SWIFT network for the automation of corporate actions messaging through the SunGard Global Network (SGN).
The XSP-SGN connectivity helps firms achieve smarter operations by providing XSP customers with access to the SWIFT gateway and the ability to integrate ISO corporate actions message types through SGN. These capabilities are now available to customers of the XSP v5 cloud-hosted platform and XSPrisa SaaS solutions.
"There is definite appetite in the market for connectivity gateways to the multiplicity of parties within the corporate actions and custody lifecycle. By relying on a partner for this function, firms can keep costs and complexity down." - Virginie O'Shea, senior analyst, Aite Group
"The XSP-SGN integrated solution is especially valuable for customers who require SWIFT connectivity to their global custodians and prime brokers through a proven, cost-effective network. It also provides XSPrisa and XSP v5 customers with greater efficiency in processing corporate actions through SGN's support for ISO message formats and integration with XSP." - Brendan P. Farrell, Jr., executive vice president, XSP, SunGard's capital markets business
"With SGN for SWIFT, firms have access to a reliable infrastructure that delivers the benefits of connectivity to the SWIFT community without the in-house resource requirements to install and maintain a SWIFT operation. SGN's enhanced support for corporate actions helps provide a more robust, complete processing environment for XSP customers." - Bob Santella, president, SunGard's brokerage business.