XSP Wins Inside Reference Data Award for Best Reference Data Initiative

May 26, 2009 - PRLog -- XSP, the leading global provider of Corporate Actions software, announced today that it has won Inside Reference Data’s 2009 Best Reference Data Initiative Award for its deployment of the XSP™ v5 Corporate Actions platform at Markit, a financial information services provider. XSP successfully implemented the XSP v5 Corporate Actions platform across Markit’s New York, London and Singapore offices for use in its index calculation and management business.

The announcement was made at the Inside Market Data and Inside Reference Data Awards Dinner held last week at the Sheraton Hotel & Towers in New York, where 200+ guests from leading global financial institutions, data vendors and technology suppliers were in attendance. Over 100 entries were submitted by industry firms and vendors for projects that showcase top class performance and innovation in their solution offerings.

“We congratulate XSP on winning the award for the Best Reference Data Initiative category,” said Tine Thoresen, Editor of Inside Reference Data. “Our panel of industry experts recognizes XSP for their achievements and excellence in their Corporate Actions work with Markit. XSP has helped them to develop processes that utilize Corporate Actions data in a way that increases automation and productivity for Markit. This award represents a testament to their success and commitment to the global reference data and Corporate Actions industry.”

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, stated, “It is truly an honor to be recognized by Incisive Media’s Inside Reference Data and the panel of judges who represent the global financial industry. Winning the award for the Best Reference Data Initiative is a reflection of our successful collaboration with our clients. It demonstrates the commitment and focus of our team in developing innovative products and services that best fit the unique requirements of our global client base. Further, it is most gratifying that our clients are now reaping the benefits from our large multi-year investment in the state-of-the-art XSP v5 Corporate Actions platform.  We are proud to receive this prestigious award and will strive to continue providing the very best solutions and services for our clients.”

The XSP v5 platform is a state-of-the-art solution developed to automate each step of the global Corporate Actions process. From Data Management and Scrubbing to Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment by using the flexible modular set up and rules-based workflow engine. A Microsoft Gold Certified Partner, XSP has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture, utilizing Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to help mitigate operational risk and reduce costs for end-to-end straight-through processing.

# # #

About XSP
XSP is the leading provider of Corporate Actions automation software for the global financial services industry. Accredited with the SWIFTReady Corporate Actions Label, the XSP platform is SWIFT ISO 15022 compliant and proven to mitigate the operational risks and costs associated with Corporate Actions processing. This leading-edge solution features an extensive workflow module and robust data management tools. XSP’s Web-based eTRAN and ISO messaging modules automate the client notification and response capture and reconciliation of elections on complex Corporate Actions events. The XSP Entitlement Management module completes the Corporate Actions processing lifecycle for true end-to-end straight-through processing. With 60 global clients, the XSP software is the most widely-implemented Corporate Actions solution in the world.

XSP is a Microsoft Gold Certified Partner and has achieved a Microsoft Competency in ISV/Software Solutions. www.xsp.com