XcitekSolutionsPlus and Odyssey Asset Management Systems, the leading providers of corporate actions automation and investment management systems respectively, today announced a strategic alliance to offer automated corporate actions processing solutions to users of Odyssey's Triple'A Portfolio Management and Nexus Data Warehouse solutions.
Through this alliance, XSP™ will interface with Triple'A and Nexus to streamline the corporate actions process for the private banking and investment management industry sectors.
XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitises data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications through its web-based module, eTRAN™, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Triple'A is an integrated, enterprise-wide portfolio management system that enables the set-up of modern, centralised and structured portfolio management operations. Functions offered by the system include: portfolio modelling, trade/order management, performance monitoring, comprehensive reporting and risk management functions. With its functional breadth, wide instrument coverage, client/server architecture and powerful toolbox, Triple'A is an ideal mission-critical solution. Nexus is an enterprise-wide Market and Reference Data Management solution that centralises the data collection, cleaning, storage, administration and distribution of common, and often duplicated data that support financial operations. Nexus delivers reduced risk and improved quality through its efficient processes, and saves on costs by optimising the data administration process.
Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, "Partnering with a market leader like Odyssey is a great endorsement for XcitekSolutionsPlus. It demonstrates our continued commitment to align with world-class vendor partners to offer integrated solutions that promote greater straight-through processing (STP). With the record-breaking number of XSP licences that we have contracted this year already, Odyssey’s dominating position in Europe will help us to further penetrate this market."
Antoine Duchateau, CEO and Founder of Odyssey Asset Management Systems, says, "The topic of corporate actions technology continues to be an area of great demand and importance amongst the investment management community. With XcitekSolutionsPlus as our strategic partner, we can leverage the combined strengths of XSP and the Triple’A and Nexus products to existing and new clients for a complete solution that meets their evolving requirements. XcitekSolutionsPlus’ expertise and market-leading position in the corporate actions space were key factors in our decision to form this partnership."