XSP Now Offers Corporate Actions Data from the Australian Securities Exchange via XSP™ v5 Platform

PRLog (Press Release) - Sep 14, 2009 -
XSP, the leading global provider of Corporate Actions processing software, announced today that it is working with the Australian Securities Exchange (ASX) to take delivery and process its ReferencePoint™ Corporate Actions data product through the XSP™ v5 platform.

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, utilising 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.

ASX processes over 130,000 company announcements each year, creating the definitive source for Corporate Actions. New intraday processing capabilities accelerate the dissemination of this valuable information to clients. ReferencePoint provides a wide range of Corporate Actions covering Issuers listed on the ASX market. ReferencePoint includes all major Corporate Actions types including dividend taxation details, dividend reinvestment plans, capital reconstructions and share purchase plan information.

Jeremy Johnston, General Manager of Market Information and International Sales at the Australian Securities Exchange said, “ASX is very pleased that XSP has extended its offering to include ASX Corporate Actions data. This development allows their global clients to leverage the robust engine of the XSP platform to receive ASX Corporate Actions data in an accurate and timely manner. The availability of our high-quality, comprehensive data through the XSP v5 automated environment allows financial institutions to better manage the risks and complexities associated with Corporate Actions processing."

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “Inclusion of the Australian Securities Exchange data service in the XSP Data Management and Scrubbing Module demonstrates further our continuous commitment to constantly enhancing our offering for our global client base, especially with our ongoing expansion into the Australian and Asian markets. By integrating the ASX ReferencePoint Corporate Actions data service into the XSP v5 software, clients can manage the downstream processing of this mission-critical information to help further maximise operational efficiencies and promote greater STP levels. XSP’s alliance with the ASX further enriches our solutions offering with value-added data processing that caters even more specifically to the Australian market’s need for automated end-to-end Corporate Actions processing. We look forward to working closely with ASX to deliver innovative solutions to the global financial community.”

-ENDS-