XSP, the leading global provider of Corporate Actions software, announced today that a leading global asset manager, a business within one of the world's largest global financial services firms, has selected the XSP v5 solution for automated global Corporate Actions processing.
With processing centers located in Pittsburgh, PA and San Francisco, CA, the client will implement the XSP v5 platform within its Corporate Actions Group. In addition to licensing most of the XSP suite of processing modules including the XSP Data Management & Scrubbing; XSP Notifications & Responses; XSP Entitlement Calculations & Management; and the XSP SWIFT ISO Processing Module, the client will also roll out XSP's state-of-the-art Web-based eTRANTM (Electronic Tracking Response and Notifications) and XSP ISO messaging modules 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).
The Managing Director and Chief Information Officer at this top Global Asset Management firm, commented, "We set forth an initiative to conduct an extensive review of the Corporate Actions space and ultimately selected XSP for their proven and comprehensive system. With the XSP v5 platform, we benefit from automating this highly-complex area of operations while meeting our investment objectives of providing consistent and risk-controlled performance. In addition, the deployment of the XSP v5 platform will give our Corporate Actions Group and Portfolio Managers a more streamlined and flexible approach to managing the Corporate Actions process. We are delighted to enter into this agreement with XSP andd look forward to a successful implementation."
"We welcome this latest Global Asset Management firm to our growing client roster," said Brendan P. Farrell, Jr., Chief Executive Officer at XSP. "This license agreement demonstrates their ongoing commitment to their core principles of innovative thinking and dedication to their clients during these challenging market conditions. Serving more than 550 clients, they require a proven and reliable Corporate Actions system with superior performance and high scalability to support their operations as well as institutional and private investment clients. We look forward to working with our latest client to meet their global Corporate Actions processing goals and objectives."