London-based global hedge fund advisor Polygon is installing XcitekSolutionsPlus' XSP software to automate its corporate actions processing.
Polygon will be the first European hedge fund advisor to license XSP and will interface its Beauchamp-suplied portfolio management application with the product to streamline corporate actions processes across it London and New York offices.
XSP is a SWIFT ISO15022 compliant solution and features data scrubbing tools, workflow management modules, Web and ISO messaging for client notification, and entitlement processing.
Manuel Guerrero, head of operations at Polygon, says Xcitek's willingness to collaborate on interfacing XSP with Beauchamp’s FundManager was a critical factor in the decision.
Brendan Farrell, managing partner of XcitekSolutionsPlus, says: "In the last 12-18 months, we have seen great interest in the alternative investment management community. Polygon is XSP’s third hedge fund client and the first to be based outside of the US."