FTSE live with XSP corporate actions platform in New York

Source: XSP

XSP, the leading global provider of Corporate Actions software, announced today that FTSE Group, a world leader in the creation and management of indices, has gone live with the XSP v5 Corporate Actions platform in New York.

FTSE has been live on the XSP v5 product in London since the second quarter of 2008.

The XSP v5 platform is a state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. From Data Management to Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment (ROI) with its flexible modular approach and rules-based workflow engine. A Microsoft Gold Certified Partner, XSP has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture (SOA), utilising Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).

Chris Broad, Chief Operating Officer at FTSE Group said, "We are delighted to be live on the XSP v5 Corporate Actions platform at our U.S. operation as well as in Europe. FTSE set an initiative to implement an automated STP environment for the management of Corporate Action events applied to FTSE indices. The XSP v5 solution allows us to deliver this information to our worldwide clients in a timely manner. We continually seek to improve our performance and productivity whilst enhancing client services through technological improvement. The XSP v5 solution helps us fulfil these goals and we continue to work closely with XSP as we further expand deployment into the Asian markets."

Neil Sheppard, Managing Director and Chief Operating Officer, EMEA at XSP, commented, "We are excited about the XSP v5 offering and delivering on our vision of providing global clients with market-leading functionality and cutting-edge technology. FTSE conducted a rigorous due diligence process which included technical workshops and proof of concept programmes prior to selecting the XSP v5 product. The success of this project is a true testament of our global support and capabilities. We look forward to continuing working closely with FTSE to meet their global Corporate Action requirements and further extend their licence to other parts of the world."

Brendan P. Farrell, Jr., Chief Executive Officer, of XSP, said, "The XSP v5 solution is one of the most significant developments in our company's history. Sophisticated players in the market, such as FTSE, need state-of-the-art solutions that maximise operational efficiencies and improve client services. The deployment of the XSP solution at FTSE in live production environments at both their London and New York operations is a major milestone at XSP."

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