London, UK, 24 January 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that its XSP™ application has commenced roll-out in Edinburgh, Scotland.
XSP will implement its extensive Corporate Actions Data Management components, its web-based eTRAN™ (Electronic Tracking Response and Notifications)
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 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.
Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, said, “This launch of XSP in Scotland is an indication of our continuing success in securing new global opportunities. This once again demonstrates the functionally-
Brendan P. Farrell, Jr., Chief Executive Officer, XSP, at Xcitek, said, " At Xcitek, we strive to develop the most flexible and comprehensive functionality for our solutions to meet and exceed our clients’ evolving business needs. Implementation in Scotland further solidifies our position as market leader in Corporate Actions processing as we continue to expand in the European market."
About Xcitek
Founded in 1986, Xcitek is the global leader in Corporate Actions software, market data and consulting services to the financial community.
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.
For more information, please visit www.xcitek.com or www.xsp.com.
