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Xcitek delivers Reuters DataScope corporate actions data; names Fullam VP & manager global services

30 January 2006  |  1170 views  |  0 Source: Reuters

Reuters (LSE: RTR.L, NASDAQ: RTRSY) today announced that Reuters DataScope Pricing & Reference Data, its complete back office solution for historical and reference data, has teamed up with Xcitek, a leading provider of market data, corporate actions software and staffing solutions, to deliver automated corporate actions data via XSP.

Reuters DataScope Pricing & Reference Data's comprehensive, SWIFT ISO15022-compliant corporate actions data is now available via Xcitek's XSP - a powerful, rules based, data-scrubbing engine with built-in exception handling capabilities for end-to-end corporate actions processing.

Caroline O'Shaughnessy, Head of Third Party Alliances for Reuters DataScope, said: "Reuters DataScope Pricing & Reference Data has made a priority of, and is making a significant ongoing investment in, corporate actions data, and the alliance with Xcitek further strengthens our delivery options - to both the buy and sell sides."

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said: "XSP clients now have access to Reuters DataScope Pricing & Reference Data's comprehensive ISO15022 standard corporate actions data. This enhances our extensive offering of distinct data sources available via our robust solution, in order to meet the needs of each individual client. This alliance gives clients further scope to improve STP and conforms to the best practices defined by the Securities Market Practice Group (SMPG) for corporate actions processing."

Sponsored by SWIFT, ISO15022 is fast becoming the predominant messaging format for corporate actions worldwide. Reuters released its ISO15022 feed, which was tested and approved by SWIFT, in September; as its first step in a move to dramatically increase coverage of the corporate actions market.

Separately, Xcitek announced today that it has expanded its European-based team with the addition of Paul Fullam, Vice President and Manager of Global Services, to support implementations for new European clients of its flagship software solution, XSP.

Fullam, who joined Xcitek in 2000, will provide support services for product demonstrations, process flow workshops, implementations and training for XSP's growing European client base. With over ten years experience, Fullam has been managing and working within securities operations, specialising in the areas of global Corporate Actions, tax reclaims, security cross-reference and pricing. He has worked with XSP clients in all segments of the financial industry including global custodian and trust banks, broker/dealers and asset managers.

Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, said, "We are delighted to have Paul working with the London team and value the extensive experience he has gained over the last five years supporting and implementing XSP clients in the U.S. Paul has been working with the management of client implementations in Europe for quite some time now. This transition reinforces our commitment to servicing the needs of our existing clients whilst preparing for the anticipated strong growth of new clients throughout Europe. Paul's knowledge and skills will further enhance our world-class support to our local client base and we look forward to his contributions to this important market."

"Our clients in Europe will greatly benefit from Paul's expertise in global Corporate Actions and his successful track record in managing the implementation of XSP into live environments," said Frank Piraino, Senior Vice President, Client Relationship Management & Sales Operations at Xcitek. "Following another record-breaking year of securing major client wins in 2005, we continue to ensure high levels of service by deploying the necessary resources to achieve our clients' objectives."

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, "As we head into our tenth year since the launch of XSP, Xcitek continues to build and invest in all areas of our organisation – from the development of XSP with enhanced features and functionality to the expansion of our staff with dedicated and talented professionals. In addition to Paul, we have immediate plans to further expand our pool of highly-skilled employees, not only in Europe, but also in the U.S., to address the needs of our current and future clients."

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