XSP, the leading global provider of Corporate Actions software, announced today that Southwest Securities, the largest full-service NYSE member firm based in Texas, has signed with XSP for automated Corporate Actions processing.
In addition to the XSP Data Management module, the company will also roll out the Web-based eTRAN (Electronic Tracking Response and Notifications) module for automated notification, response capture and elections processing.
The XSP v5 platform is XSP's state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. 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), utilizing 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).
Anthony Mauro, Vice President of Operations at Southwest Securities, said, "We selected XSP based on the product's extensive functional coverage, reputation in the industry and continuous investments in technology. The XSP software will automate our Corporate Actions process, reduce risk, streamline workflow and enhance communications to our clients. In addition, the XSP product interfacing to Comprehensive Software Systems' solution will promote further STP."
Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, "We welcome Southwest Securities as our latest XSP client. Our highly experienced Professional Services team will work closely with them to deploy the XSP solution and to achieve maximum operational efficiency. During times when the markets are experiencing such volatility, it is critical now more than ever to reduce the risks and costs associated with the manual processing of Corporate Actions. The addition of Southwest Securities to our client base provides another example of the markets' ongoing demand for automation with a proven Corporate Actions software e solution. We look forward to working with Southwest Securities."