London, UK, 10 October 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced the successful delivery of the SWIFT ISO 2006 Standards Release for its flagship Corporate Actions software, XSP™. In response to the changes mandated by SWIFT’s Standards Release 2006, Xcitek has implemented the changes impacting the ISO module of XSP in readiness for the November 18, 2006 effective date.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO15022 compliant and features comprehensive data scrubbing tools, workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitises data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications and elections via its web-based module, eTRAN™, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Jon Montgomery, Senior Vice President of Professional Services, XSP, at Xcitek, stated, “We are delighted to have successfully delivered all changes pertaining to SWIFT’s Standards Release 2006 in advance of their schedule. We have worked closely with our clients to ensure that the ISO module conforms to the enhancements set by SWIFT. Xcitek provides technical support throughout the course of this initiative whilst facilitating a comprehensive UAT program and QA process.’’
Neil Sheppard, Chief Operating Officer Europe, XSP, at Xcitek, said, ‘’As a SWIFT Solutions Partner and a recipient of the SWIFTReady Corporate Actions Label, we are committed to servicing our clients at the highest standards. Xcitek fully embraces industry initiatives that will maximise operational efficiency and promote the greatest levels of straight-through processing in Corporate Actions for global financial institutions.”
About Xcitek
Founded in 1986, Xcitek is the global leader in Corporate Actions software, market data and consulting services to the financial community.
Xcitek’s market data offerings include Corporate Actions, Cost Basis, Securities Class Actions, Securities Payments and other financial data, serving over 2,000 clients worldwide. Ranked #1 for ten consecutive years by The Summit Group, Xcitek has led all other providers in its chosen specialized categories such as data accuracy, data timeliness, coverage, and delivery reliability. User-friendly, flexible, and affordable, Xcitek’s web-based solutions deliver time-sensitive and critical information straight to the desktop.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO15022 compliant and features an extensive workflow module, robust data scrubbing tools, web and ISO messaging for client notification and response capture (eTRAN™), and complete entitlement processing to manage the entire corporate actions lifecycle - thereby reducing risk and maximising operational efficiency. With over 50 licensed clients, XSP is the most widely-implemented Corporate Actions system in the world.
Xcitek’s consulting and staffing group provides financial institutions with highly-skilled professionals for temporary and permanent placement in operations, outsourcing, project management, and systems conversion. With its comprehensive database of experienced professionals, Xcitek carefully screens candidates to match clients with the appropriate personnel to assist them in successfully reaching their goals.
Additional information about Xcitek can be found at www.xcitek.com.
