Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that J.P. Morgan Securities Ltd. has upgraded its XSP software solution and is now live with Version 4.5 at its London and Australian operations to automate its Corporate Actions processing worldwide.
An XSP client since 2000, this upgrade further streamlines J.P. Morgan Securities' operations with enhanced workflow tools, comprehensive ISO functionality and robust automation capabilities to continue delivering immediate return on investment (ROI) results.
XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP also offers the functionality to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.
Richard Harmer, Associate, Corporate Actions at J.P. Morgan Securities Ltd., said, "The implementation of this upgraded version of XSP supports J.P. Morgan Securities' growing Corporate Actions processing volume whilst providing us with powerful processing capabilities to manage our day-to-day operations. With XSP Version 4.5, we are expanding our use of the ISO functionality, eliminating the need for manual diary entries and fully utilising XSP's powerful workflow tools to manage the complete Corporate Actions lifecycle. We are delighted with the strong working relationship that we have built over the years and are extremely pleased with the continued success of XSP at J.P. Morgan Securities."
"J.P. Morgan Securities is a valued XSP client that is focused on providing superior service to their large, global customer base," said Brendan P. Farrell, Jr., Managing Partner at Xcitek. "As an XSP user for five years, J.P. Morgan Securities' ongoing success with our software validates its proven capabilities in automating Corporate Actions processing for their clients throughout the world. Our commitment to constantly enhancing the features and functionality of XSP allows financial institutions like J.P. Morgan Securities to continue realising the benefits that automation brings to this traditionally manual and labour-intensive process. We look forward to continue building on our excellent long-standing relationship and extending our expertise to other business units at J.P. Morgan."