XSP Named Corporate Actions ‘Company to Watch in 2010’ by Financial-i Magazine

PRLog (Press Release) - Feb 03, 2010 -
XSP, the leading global provider of Corporate Actions software, announced today that it has been named ‘Company to Watch in 2010’ for Corporate Actions by Financial-i Magazine.

The Financial-i ‘Leaders in Innovation’ and ‘Company to Watch in 2010’ award winners are chosen by an advisory panel comprised of analysts, consultants and market practitioners. The awards identify global transaction banks and financial hardware and software vendors that in the last 12 months have excelled, in terms of innovation in business solutions, across wholesale transaction banking encompassing Payments & FX, Securities Services, Data Management, Risk Management and Network Services.

Anita Hawser, Managing Editor of Financial-i, said, "Through research conducted by the Editorial team at Financial-i and our panel of independent analysts, we selected XSP as the ‘Company to Watch in 2010’ for Corporate Actions. The area of Corporate Actions is a high-risk and high-cost operation within financial institutions globally and with the escalating volumes and complexities surrounding this space, innovation is key to helping the markets manage this growth and increase efficiencies. We recognise XSP for their continuous commitment to innovation and technological advancements of their flagship XSP™ v5 platform. In addition, another noteworthy development is their expanding reach into Australasia with a service-based offering through their partnership with the Decillion Group.”

The XSP v5 platform is XSP’s state-of-the-art solution developed to automate each step in the processing of global Corporate Actions.  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 (SOA), 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 mitigate operational risks and costs for end-to-end straight-through processing (STP).

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “XSP is honoured to be named the Corporate Actions ‘Company to Watch in 2010’ by the Editorial team at Financial-i and the panel of judges who recognise our accomplishments and successes. We are committed to revolutionising the area of Corporate Actions automation with robust product features and functionalities, superior performance and the latest in state-of-the-art technologies to help our clients succeed as their requirements evolve. We also congratulate the joint efforts of the DTCC, SWIFT and XBRL for being selected the ‘Leader in Innovation’ and support them for their collaborative work to help bring standardisation to Corporate Actions data. By managing the standardised data upfront, it allows our clients to leverage the power of the XSP platform to further facilitate STP within their unique environments.”