XSP and Broadridge team up

Source: XSP

XSP, the global leader in automated end-to-end Corporate Actions solutions, announced today that it has entered into a strategic relationship with Broadridge Financial Solutions, a technology services company focused on global capital markets, to offer the XSP v5 Corporate Actions Automation software as both a fully integrated service on the Broadridge ASP (application service provider) platform as well as a stand-alone solution.

This new offering will enable clients to maximize operational efficiencies and facilitate very high levels of straight-through processing (STP) for corporate actions. Clients on the new service will benefit from the combined strength of the XSP v5 Platform running as a service within Broadridge's Tier IV data centers, and managed by Broadridge's Operational Centers of Excellence. Additionally, existing Broadridge clients will have the option of seamlessly interfacing the XSP v5 platform with Broadridge's Brokerage Processing Services (BPS), Impact and Gloss back office applications.

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 STP. The new eTRAN+ product leverages the XSP GO! framework to provide clients with a customizable user interface to manage corporate actions notification and response processing.

Brendan P. Farrell Jr., Chief Executive Officer at XSP, stated "This exciting new relationship is in direct response to joint client demand. Global financial services firms will be able to benefit from the combined strengths of Broadridge's leading Brokerage Processing Services and XSP's state-of-the-art Corporate Actions automation solution. The XSP v5 software automates the end-to-end corporate actions lifecycle, an area of securities processing that is considered one of the most challenging and highly-complex operations for the financial community. The XSP platform is an enterprise-wide solution with a comprehensive offering of over 30 vendor data interfaces and scales easily to handle large and small companies. By collaborating with Broadridge, we are able to further extend our global reach and provide clients with a cloud and mobile ready solution that leverages v5 cutting-edge technology coupled with the most robust hosting environments designed to meet the unique requirements of thehe global financial industry."

Susan Certoma, President, Brokerage Processing Services at Broadridge said, "As a global leader in financial services processing solutions we are delighted to maintain our highest standards by offering our clients one of the world's leading corporate actions automation solutions. Our existing and future clients will be able to benefit from this service offering, either as a standalone, service bureau solution or fully integrated with our back office applications for a streamlined process and maximum STP." 

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