Mizuho International live with Xcitek corporate actions software

Mizuho International live with Xcitek corporate actions software

Mizuho International, the London-based securities and investment banking arm of Japan's Mizuho Financial Group, has deployed Xcitek's corporate actions processing platform, XSP.

New York-based Xcitek says its XSP system will provide data capture from multiple vendor sources, custodians, prime brokers and agent banks and features rules-based scrubbing tools, a workflow management module and complete entitlement processing. Tasks and exceptions are automatically routed to designated parties.

XSP also enables users to manage client event notifications and election responses through its ISO module and its Web-based component, eTran. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

John Sweeney, executive director of securities services, Mizuho International, says: "XSP gives us end-to-end automation in our asset servicing area and enables us to offer a strong and competitive custody service to our clients whilst reducing operational risk."

Xcitek says the bank's US operations, Mizuho Trust & Banking (USA), has been using XSP in its New York offices since 1999.

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