XSP, the leading global provider of Corporate Actions software, announced today that The Center for Research in Security Prices (CRSP) at the Booth School of Business has selected the XSP v5 solution to automate its Corporate Actions processing.
CRSP, a highly-specialized provider of market data to hundreds of academic, commercial and government institutions for nearly 50 years, has signed a five-year license with XSP to manage Corporate Actions data that is input to their various data aggregation and validation processes.
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.
The Chief Operating Officer of the Center for Research in Security Prices, said, "CRSP has launched a project to enhance our data-acquisition processes and to develop a new set of equity-based indices. We needed a software solution that could manage Corporate Actions data effectively. Included in the factors leading to a high score in our analysis and requirements was the comprehensiveness of the product in handling domestic and international securities along with the flexibility in the ability to manage the growing volume of Corporate Actions activity efficiently for our research staff. Their exclusive focus on the Corporate Actions automation space and their all-inclusive implementation strategy were additional factors in our selection of XSP. In addition to licensing the XSP application, CRSP will leverage the XSP team's broad business and technical expertise in developing some additional and exciting product enhancements unique to CRSP's requirements. We look forward to working closely with the XSP team to complete a smooth and succcessful implementation."
Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, "This license agreement with CRSP represents a unique and exciting opportunity for XSP in that not only does it add to the diverse range of global financial institutions that we service, but CRSP will also utilize the XSP product to refine data for research, training and educational purposes. This recognition by such a prestigious center of learning will help ensure further that XSP is truly recognized as the defacto-standard for Corporate Actions processing across the globe. CRSP's selection of the XSP v5 platform demonstrates how technology is empowering a leading university research center to constantly enhance their reputation in the area of support for academic research. CRSP confirms XSP's unique position as the preferred Corporate Actions automation solution for the management of Corporate Actions data. We are pleased to be playing a role in supporting CRSP's continued innovation and leadership in quality standards in support of research and higher education."