XSP - The Experts in Corporate Actions Automation: Press Releases

Marshall & Ilsley Trust Company Signs Multi-Year Corporate Actions Software Contract Renewal with XSP

Mon, 02 Mar 2009 00:00:00 CST

NEW YORK, NY. – March 2, 2009 – XSP, the leading global provider of Corporate Actions software, announced today that Marshall & Ilsley Trust Company N.A. (M&I Trust), an affiliate of Marshall & Ilsley Corporation, has signed a multi-year renewal agreement for its XSP™ v5 Corporate Actions solution.

The XSP v5 platform is a state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. From Data Management and Scrubbing to Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment with its flexible modular approach 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 mitigate operational risks and costs for end-to-end straight-through processing.

“The expansion of our relationship with XSP demonstrates the value we realize through their offerings. In addition to the XSP software product, they provide us with top-notch support through the XSP Account Relationship Management program,” said Wayne Klomstad, Senior Vice President, Marshall & Ilsley Trust Company N.A. “Through the XSP eTRAN™ module, our third-party clients will be able to notify and capture elections from all intermediaries involved, thereby further enhancing the downstream processing of Corporate Actions.”

“We are pleased to extend our relationship with such a nationally-recognized leader as M&I Trust,” said Brendan P. Farrell, Jr., Chief Executive Officer at XSP. “Since the deployment of the XSP solution in 2000, M&I Trust has realized efficiency gains that help to continue to increase productivity and reduce costs. Through the use of the XSP and eTRAN modules, they are able to manage their risks and exposure involved in the processing of this highly-complex area. M&I Trust is a valued client and we look forward to continuing a long-lasting relationship with them.”

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Markit Rolls Out XSP(tm) v5 Corporate Actions Platform Globally

Wed, 25 Feb 2009 00:00:00 CST

LONDON, UK – 25 February 2009 – XSP, the leading global provider of Corporate Actions software, announced today that Markit, a financial information services provider, has completed its rollout of the XSP™ v5 Corporate Actions platform and has gone live in London, New York and Singapore.

The XSP v5 platform is a state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. From Data and Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment with its flexible modular approach 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 mitigate operational risks and costs for end-to-end straight-through processing.

In addition to the XSP Data Management and Scrubbing module, Markit has also integrated the XSP Messaging module for automated notifications and the XSP Workflow Management module which automatically processes the Corporate Actions into ‘Golden Records’ based upon a number of pre-determined rules.

Paul Hodge, Managing Director of Equities at Markit, said, “The XSP platform enables us to automate some of the complex processes within our bespoke index calculation and management business. By making our systems more scalable, we will be able to meet increased demand for our services.”

Neil Sheppard, Managing Director and Chief Operating Officer, EMEA at XSP, said, “We are delighted with the global deployment of the XSP platform running at multiple sites at Markit. Whilst traditional clients of Corporate Actions automation solutions are typically financial institutions, the success of this implementation demonstrates the versatility of the XSP v5 platform to a broad range of global market participants. We look forward to continue working closely with Markit to help them achieve their goals of delivering solutions that reduce risks and improve operational efficiencies.”

“The live implementation of the XSP v5 platform at Markit across three continents is yet another prime example of the momentum we are continuing to build with our product and service offerings amid a challenging economy,” added Brendan P. Farrell, Jr., Chief Executive Officer, of XSP.

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XSP Names Paul D. Fullam Senior Director of Business Strategy

Mon, 09 Feb 2009 00:00:00 CST

NEW YORK, NY – February 9, 2009 – XSP, the leading global provider of Corporate Actions software, announced today that Paul D. Fullam has been promoted to Senior Director of Business Strategy. Fullam has relocated to the company’s New York office and will report directly to Brendan P. Farrell, Jr., Chief Executive Officer.

In this new position, Fullam will further develop his role by engaging the industry and assuming responsibility for all global associations such as SIFMA and ISITC. He will continue to manage the longstanding SWIFT relationship, working closely with them to ensure continued XSP compliance with best market practices in Corporate Actions processing while identifying strategic requirements that meet the ever-changing needs of XSP’s global client base. Fullam will also be involved in client-facing and product roadmap initiatives, Research and Development prioritization and taking the product into additional markets.

Fullam has a wealth of experience in global securities processing – specifically as it applies to Corporate Actions; extensive market knowledge of industry initiatives such as SWIFT ISO message platform and Securities Market Practice Group; and is an acknowledged expert in the XSP™ product as well as its real-life global deployment. Since joining XSP in 2000, Fullam has managed product implementations and integration within client environments for various financial institutions globally. His role as a Co-Chair of the ISITC Corporate Actions Working Group allows him direct access to all sectors of financial services.

“The strength of the talent we attract and retain is the foundation of our ongoing success,” Farrell commented. “Paul’s depth of knowledge in the global Corporate Actions space, expertise in the XSP product and valuable experience in implementing the software at client sites around the world makes him the ideal executive for this newly-created position. We recognize Paul for all his significant contributions to our organization to date and wish him much success in this role, helping to drive XSP’s continued growth.”

“Despite the current economic turmoil, Corporate Actions automation remains an important topic for global financial institutions,” said Fullam. “In an era of constant change and challenges, we are committed to evolving our product and service offerings, while adhering to best practices in Corporate Actions processing. I am excited about my new opportunity at XSP and delighted to be part of such a dynamic team in a constantly-growing organization where demand for our solutions continues at a rapid pace.”

Prior to joining XSP, Fullam worked at Fidelity, Investors Bank & Trust and John Hancock Funds. He has specialized experience in Global Corporate Actions, Tax Reclaims, Fixed Income, Security Master and Pricing. Fullam holds an Accounting degree from the College of Commerce, Dublin Ireland.

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XSP Moves to New Corporate Headquarters in Birmingham, Alabama

Fri, 30 Jan 2009 00:00:00 CST

BIRMINGHAM, AL – February 2, 2009 – XSP, the leading global provider of Corporate Actions software, announced today that the company has moved its corporate headquarters to new office space at 10 Inverness Center Parkway in Birmingham, AL.

Designed to increase efficiencies among its staff and bolster client service activities, XSP’s new office space has been customized to better meet the growing needs of the organization and to support its expanding international operations while leveraging Birmingham’s commitment to cultivating local technology companies.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “XSP continues to experience increased interest and market demand for our XSP™ v5 Corporate Actions platform. Our new space is designed to address our current requirements and anticipated future growth while creating an environment where our team members will thrive, leading to improved productivity and enhanced client services.”

Effective today, the relocation marks the start of a long-term lease agreement through 2016, encompassing over 15,000 square feet of office space in one of the most sought-after business areas in the Southeast. In addition to Birmingham being ranked as one of the largest banking centers in the U.S., Alabama heavily promotes the growth of hi-tech companies.

Dan Retzer, Managing Director and Chief Technology Officer at XSP, stated, “The Birmingham community is a strong advocate of technology businesses through organizations such as TechBirmingham and various other trade associations. My role as a leader in the technology community allows me the opportunity to connect with local talents to exchange ideas, foster relationships and address technology issues. TechBirmingham, an organization which several XSP professionals are active members and frequent contributors, promotes this vision of economic growth through technology. By brainstorming with members of the Birmingham community, it helps us to further develop our offerings, bringing value-added benefits to our global clients.”

"Not only does Birmingham benefit from companies like XSP that leverage our strong local talent and growing ecosystem of technology companies, it also demonstrates that TechBirmingham is achieving its mission." says Jennifer Skjellum, Chair of TechBirmingham.

XSP’s new address is 10 Inverness Center Parkway, Suite 600, Birmingham, Alabama 35242. The phone numbers (main: +1 205 439 5700), fax number and email addresses remain the same. In addition to its Birmingham headquarters, XSP also has offices in New York and London.

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Southwest Securities Signs with XSP for Automated Corporate Actions Processing

Mon, 12 Jan 2009 00:00:00 CST

NEW YORK, NY – January 12, 2009 – XSP, the leading global provider of Corporate Actions software, announced today that Southwest Securities, the largest full-service NYSE member firm based in Texas, has signed with XSP for automated Corporate Actions processing. In addition to the XSP™ Data Management module, the company will also roll out the Web-based eTRAN™ (Electronic Tracking Response and Notifications) module for automated notification, response capture and elections processing.

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), 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 mitigate operational risks and costs for end-to-end straight-through processing (STP).

Anthony Mauro, Vice President of Operations at Southwest Securities, said, “We selected XSP based on the product’s extensive functional coverage, reputation in the industry and continuous investments in technology. The XSP software will automate our Corporate Actions process, reduce risk, streamline workflow and enhance communications to our clients. In addition, the XSP product interfacing to Comprehensive Software Systems’ solution will promote further STP.”

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “We welcome Southwest Securities as our latest XSP client. Our highly experienced Professional Services team will work closely with them to deploy the XSP solution and to achieve maximum operational efficiency. During times when the markets are experiencing such volatility, it is critical now more than ever to reduce the risks and costs associated with the manual processing of Corporate Actions. The addition of Southwest Securities to our client base provides another example of the markets’ ongoing demand for automation with a proven Corporate Actions software solution. We look forward to working with Southwest Securities.”

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FTSE Group Goes Live with XSP(tm) v5 Corporate Actions Platform Globally

Wed, 17 Dec 2008 00:00:00 CST

LONDON, UK – 17 December, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that FTSE Group, a world leader in the creation and management of indices, has gone live with the XSP™ v5 Corporate Actions platform in New York. FTSE has been live on the XSP v5 product in London since the second quarter of 2008.

The XSP v5 platform is a state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. From Data Management to Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment (ROI) with its flexible modular approach 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 (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).

Chris Broad, Chief Operating Officer at FTSE Group said, “We are delighted to be live on the XSP v5 Corporate Actions platform at our U.S. operation as well as in Europe. FTSE set an initiative to implement an automated STP environment for the management of Corporate Action events applied to FTSE indices. The XSP v5 solution allows us to deliver this information to our worldwide clients in a timely manner. We continually seek to improve our performance and productivity whilst enhancing client services through technological improvement. The XSP v5 solution helps us fulfil these goals and we continue to work closely with XSP as we further expand deployment into the Asian markets.”

Neil Sheppard, Managing Director and Chief Operating Officer, EMEA at XSP, commented, “We are excited about the XSP v5 offering and delivering on our vision of providing global clients with market-leading functionality and cutting-edge technology. FTSE conducted a rigorous due diligence process which included technical workshops and proof of concept programmes prior to selecting the XSP v5 product. The success of this project is a true testament of our global support and capabilities. We look forward to continuing working closely with FTSE to meet their global Corporate Action requirements and further extend their licence to other parts of the world.”

Brendan P. Farrell, Jr., Chief Executive Officer, of XSP, said, “The XSP v5 solution is one of the most significant developments in our company’s history. Sophisticated players in the market, such as FTSE, need state-of-the-art solutions that maximise operational efficiencies and improve client services. The deployment of the XSP solution at FTSE in live production environments at both their London and New York operations is a major milestone at XSP.”

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SunGard�s Phase3 Integrates XSP Corporate Actions Platform in Hosted Environment

Mon, 24 Nov 2008 00:00:00 CST

Burlington, MA – November 24, 2008 – SunGard has integrated XSP’s global corporate actions software capabilities with SunGard’s Phase3 multi-asset, multi-currency securities processing solution in a SunGard-hosted application service provider (ASP) environment. SunGard will provide customers with Web-based access to the XSP v5 corporate actions platform. The integration with Phase3 will help improve straight-through processing and help reduce the cost and complexity of global corporate actions processing.

Corporate actions processing is complex, involving 80 corporate event types including mergers, spin-offs, stock buybacks, name changes and bankruptcies, as well as income events such as dividends, interest payments and called bonds. A single corporate action event can dictate mandatory or voluntary action with multiple options, requiring operations staff and securities processing systems to deal with position changes, settlement and distribution. At the same time, financial institutions continue to seek ways to mitigate costs, control risk and improve efficiencies in an increasingly challenging and volatile economic environment. SunGard’s Phase3 integrated with the XSP platform provides an automated straight-through process for corporate actions that helps customers reduce the cost of hardware, support and maintenance as well as helping simplify their processing environments.

Brendan P. Farrell, Jr., chief executive officer at XSP, said, “The seamless integration of the XSP v5 platform with Phase3 will help SunGard customers to automate their corporate actions processing and mitigate risk in this area, while also helping them to more effectively achieve day-to-day operational goals.”

Gerry Murphy, president of SunGard’s brokerage and clearance business, said, “By integrating the XSP solution with SunGard’s Phase3 in a hosted environment, we can offer customers greater flexibility and efficiency as well as reduced cost and fewer errors. This will help customers control the operational risks associated with processing corporate actions, and help them streamline the reconciliation of events and changes in positions and settlement. This solution is suited to large retail broker-dealers, as well as financial institutions that wish to use multiple sources of vendor data and require global corporate actions processing.”

The XSP v5 platform helps automate the processing of global corporate actions. XSP has re-engineered its platform using Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture (SOA), 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.

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XSP Nominated for Operations Management's 2008 'Vendor of the Year' Excellence Awards

Wed, 17 Sep 2008 00:00:00 CST

NEW YORK, NY - September 17, 2008 - XSP, the leading global provider of Corporate Actions software, announced today that it has been nominated for Operations Management’s 2008 ‘Vendor of the Year’ Excellence Awards. XSP has been nominated for enhancements made to its Corporate Actions platform.

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), utilizing Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady Gold 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).

The Operations Management Awards for Excellence are given out annually to leaders from across the securities transaction processing industry who have stood out for their accomplishments over the previous year. Nominees and winners are selected by the editorial staff of Institutional Investor’s Operations Management newsletter, who interview leaders from across the wealth management community, solicit input from subscribers and other industry professionals and call on their own market intelligence.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, stated, “It is truly an honour to be nominated for Operations Management’s ‘Vendor of the Year’ Excellence Award. As the only Corporate Actions vendor nominated in this category, it reinforces XSP’s ongoing commitment to providing the global financial services sector with a proven and robust Corporate Actions solution that meet their ever-changing dynamic requirements. This recognition is a reflection of the hard work, dedication and industry knowledge of our people, which all contribute to our continued growth and market-leading status.”

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XSP Adopts Tier 3 Platform to Meet Infrastructure Demands and Streamline Development and Acceptance Testing

Tue, 16 Sep 2008 00:00:00 CST

BIRMINGHAM, AL. – September 16, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that it has selected Tier 3 (www.tier3.com), an Infrastructure as a Service (IaaS) provider, to host and maintain its data center and technology Infrastructure requirements. As a strategic partner, Tier 3 will also provide an environment for hosting its User Acceptance Testing (UAT) and software automation labs. This selection was predicated on Tier 3’s ability to rapidly provision and secure technology assets as well as providing a high degree of flexibility with its On-Demand platform.

This partnership with Tier 3 establishes a foundation allowing XSP to provide its clients with additional flexibility for deploying the XSP platform, leading to a further streamlined implementation process. Tier 3’s On-Demand platform also enables the XSP solution to be configured and deployed in a purely virtual environment. This simplifies the deployment process by safely replicating virtual XSP images from the Tier 3 On-Demand platform to a client’s virtual server infrastructure without the duplicated effort and expense associated with migrating solutions from a development environment to a UAT environment and ultimately to production.

The XSP v5 platform is XSP’s state-of-the-art solution developed to automate each step in the processing of Corporate Actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered 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. A SWIFTReady-labeled application, 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).

Jared Wray, Principal, Tier 3, said, “As a rapidly-growing company with high client demands, XSP requires a dynamic environment capable of supporting ongoing technical innovations to the XSP v5 platform to continue advancing their leadership in the marketplace. Tier 3 provides them with a highly-scalable and secure enterprise-class platform without the associated costly hardware and infrastructure acquisition normally associated with IT. Tier 3 has expertise in all aspects of providing Infrastructure as a Service and we handle all the details so XSP can focus on their core business."

Dan Retzer, Managing Director and Chief Technology Officer, XSP, said, "XSP requires an alternative to the traditional approach to IT infrastructure and data center support that is capable of keeping pace with our demands for growth, security and flexibility. Most Managed Services providers only partly meet our needs. We realized that the technology reached sufficient maturity for us to seek a provider that specializes in virtual technology for greater uptime and performance. Tier 3’s platform provides a proactive approach to delivering our internal applications, as well as meeting our clients’ demands for streamlining the UAT and implementation process.”

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XSP Achieves 2008 SWIFTReady Corporate Actions Label Accreditation in Conjunction with Microsoft BizTalk Accelerator for SWIFT

Mon, 15 Sep 2008 00:00:00 CST

LONDON, UK. – 15 September 2008 – XSP, the leading global provider of Corporate Actions software, announced today at SIBOS 2008 that the company’s flagship product, XSP™ v5 platform, has achieved the SWIFTReady Corporate Actions Label accreditation for 2008 in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Financial Enterprise Application Integration (EAI) product. This is the fourth consecutive year that XSP has received this prestigious award from SWIFT.

SWIFT validates and recognises the capabilities of the XSP v5 platform and certifies its compliance with best market practices in Corporate Actions processing by awarding XSP with the SWIFTReady Label. SWIFTReady providers participating in this programme must adhere to a stringent set of published criteria linked to the support of SWIFT messages, connectivity and functionality. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s evolution and customer requirements.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step of Corporate Actions processing. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered 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. A SWIFTReady-labelled application, the XSP v5 platform is SWIFT ISO 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).

Hervé Valentin, Partner Management and Business Development Manager, SWIFT, said, “Once again, SWIFT is pleased to award XSP with the SWIFTReady Corporate Actions Label for the XSP v5 application. With SWIFT’s new partnership model focused on increasing customer centricity, we are eager to work even closer with XSP to deliver value propositions that benefit SWIFT clients. In achieving our SWIFTReady certification, they clearly demonstrate their commitment to the Corporate Actions processing space. We look forward to continue working with XSP to leverage their area of expertise and provide our joint customers with valuable business solutions.”

Microsoft’s BizTalk Accelerator for SWIFT enables clients to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping to deliver rapid ROI by reducing the complexity of bilateral communications between institutions. This SWIFT EAI Label application also provides clients with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.

“Microsoft values relationships with strong solution partners such as XSP that can help global financial institutions streamline their operations and improve efficiency by increasing STP,” says Sheida Hadji-Ashrafi, Worldwide Industry Manager, Payments, Microsoft. “With the integration of the XSP v5 solution and Microsoft BizTalk Accelerator for SWIFT, clients have a reliable and cost-effective platform for ISO 15022 messaging in the processing of Corporate Actions. The accreditation of the SWIFTReady Corporate Actions Label recognises XSP’s efforts in this complex area and, when deployed in conjunction with BizTalk Accelerator for SWIFT, will lead to reduced SWIFT implementation effort.”

“XSP remains at the forefront of offering sophisticated products and services that also allow for a simplified and streamlined deployment,” said Dan Retzer, Managing Director and Chief Technology Officer, XSP. “By leveraging Microsoft BizTalk Accelerator for SWIFT, XSP clients can benefit from an integrated messaging platform to support all SWIFT messages and connectivity.”

Neil Sheppard, Managing Director and Chief Operating Officer of EMEA, XSP, said "We are delighted that SWIFT has awarded XSP with the 2008 SWIFTReady Corporate Actions Label. Our involvement in industry groups, such as co-chairing the ISITC Corporate Actions Working Group, helps us to make continued progress and fulfil the ever-changing requirements of the Corporate Actions marketplace. This re-certification underscores our dedication to our global client base and validates our commitment to state-of-the-art products and technologies.”

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XSP Continues to Expand with the Addition of John Barth as Senior Sales Executive

Mon, 04 Aug 2008 00:00:00 CST

BIRMINGHAM, AL – August 4, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that John Barth has joined the Company as Senior Sales Executive responsible for managing accounts in North America for the XSP™ Corporate Actions software product. Based in Birmingham, AL, Barth reports to John Kehoe, Director of Sales for North America.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “John is a high-caliber professional with an impressive track record of solid sales performance. His depth of experience in technology sales will be crucial as we continue growing our business while expanding our client and partner base. John’s ability to solve complex problems and his commitment to client relationship management makes him a tremendous asset to XSP’s sales team.”

Barth has over 20 years of client relationship and sales management experience, consistently surpassing his sales quotas and is a Six Sigma Certified Green Belt. Most recently, he was Senior Account Executive at CareMedic System, where he was responsible for selling revenue cycle software and consulting solutions in the southern regions of the U.S. Prior to this, he was Account Executive at 3M Health Information System. Barth held various account management and software sales positions at Computer Associates, where he represented the banking and financial services industry. He also worked at General Electric Company for more than 18 years in sales, sales leadership and marketing roles.

Barth has won numerous honors and awards for top sales performance. He holds a Bachelors of Science degree in Finance from Indiana University.

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Jim Dore Joins XSP as Senior Sales Executive

Mon, 21 Jul 2008 00:00:00 CST

NEW YORK, NY – July 21, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that Jim Dore has joined the Company as Senior Sales Executive responsible for managing accounts in North America for the XSP™ Corporate Actions software product. Based in New York, Dore reports to John Kehoe, Director of Sales for North America.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “Jim brings a wealth of knowledge in financial software and a real sense of enthusiasm to this role. He has a deep understanding of what is required to achieve operational efficiency at global financial institutions and uses a consultative approach to help clients fulfill their objectives. We welcome Jim to the XSP sales team and look forward to his contributions.”

Most recently, Dore was Senior Sales Executive at Xtiva Financial Systems, a provider of commission tracking and management reporting software, where he built solid relationships with senior executives from the financial community. Prior to Xtiva, Dore worked at Informa Investment Solutions as an Enterprise Solutions Consultant. He also held positions at Raymond James Financial Services as Principal and Investment Consultant as well as Sands Brothers & Co. Ltd. as Vice President/Registered Representative.

Dore attended Pace University in New York and Tullow Community School in Carlow, Ireland.

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New York-Based Broker Dealer Licenses XSP(tm) v5 Platform for Global Corporate Actions Automation

Tue, 24 Jun 2008 00:00:00 CST

NEW YORK, NY. – June 30, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that a leading global broker dealer based in New York has licensed the XSP™ v5 platform for global Corporate Actions processing. In addition to the XSP Data Management module, the company will also roll out the Web-based eTRAN™ (Electronic Tracking Response and Notifications) and XSP ISO messaging modules for automated notification, response capture and elections processing.

The XSP v5 platform is XSP's latest 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), utilizing Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady Gold 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).

The client completed an extensive review of all available solutions in the marketplace and chose the XSP solution primarily because XSP was able to provide the most robust Corporate Actions solution with the required interface adaptors already developed and the modern technology architecture most compatible with the client’s environment for both its current and future needs. Additionally, XSP’s responsiveness throughout the due diligence review gave the client an indication of the high quality of service they would expect throughout the implementation process and over the years ahead. XSP client reference sites also provided impressive feedback, specifically with regards to implementation track record, ongoing support and software deployment.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “XSP recognizes the importance of developing a sense of partnership with our clients and providing them with world-class support before, during and after an implementation. We pride ourselves in fully understanding the unique needs of each of our clients and in delivering a platform solution that will maximize operational efficiencies. We welcome our latest client to XSP and look forward to enhancing this relationship even further over the coming years.”

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City Networks and XSP Provide Corporate Actions and Reconciliation Solution

Mon, 23 Jun 2008 00:00:00 CST

London – 23rd June 2008 – City Networks, a world leading reconciliation and exception management specialist, announced today a new partnership agreement with XSP, a leading global provider of Corporate Actions software, enabling both companies to extend their current offering with an integrated Corporate Actions, Reconciliation and Exception Management solution.

Under this new partnership agreement, both City Networks and XSP will provide the global financial services markets with an integrated Corporate Actions and Reconciliation solution boasting state-of-the-art Exception Management, Business Process Management and Real Time KPI and KRI functionality from City Networks' PROactive™ range of integrated solutions in conjunction with the robust functionality from XSP's technologically-advanced global Corporate Actions platform.

Richard Hill, City Networks' CEO, “This is an exciting new partnership; it takes City Networks specialist expertise in operational efficiency and risk reduction into the Corporate Actions arena. It offers the market a complete and integrated solution for automating the processing, reconciliation and managing exceptions arising from Corporate Actions. We are confident that our PROactive™ Process Management Software will achieve greater levels of automation in Corporate Actions.”

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “At XSP, we partner with solution providers that add value to our core offerings and help our global clients manage their operations more efficiently. The combined strengths of City Networks' PROactive™ Reconciliation module and the XSP™ v5 Corporate Actions platform offer a state-of-the-art solution to global financial institutions to increase their levels of straight-through processing. The reconciliation functionality from City Networks is a natural extension of our proposition and allows us to provide our mutual clients with robust offerings to further streamline the end-to-end processing of Corporate Actions.”

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Paul Fullam of XSP Appointed as Co-Chair of ISITC Corporate Actions Working Group

Mon, 02 Jun 2008 00:00:00 CST

NEW YORK, NY. – June 2, 2008 – XSP, the leading global provider of Corporate Actions processing software, announced today that Paul Fullam, Principal Consultant, has been appointed as a Co-Chair of the ISITC Corporate Actions Working Group. In this position, Fullam will collaborate with the group's co-chairs and members to review ISO 15022 standards and direct enhancements to message content that promote the straight-through processing (STP) of Corporate Actions.

At XSP, Fullam is responsible for ensuring that the company's flagship software product complies with global securities market practice group (SMPG) initiatives for best practices in Corporate Actions processing. He serves as a senior business relationship manager and liaison for the industry associations such as ISITC, SIFMA and SWIFT. He is also responsible for managing product implementations and integration within client environments for financial institutions all over the world.

Fullam has over ten years of Corporate Actions experience and extensive market knowledge of industry initiatives such as ISO and SMPG. Prior to joining XSP in 2000, he worked at Fidelity ActionsXchange, Investors Bank & Trust and John Hancock Funds. He has specialized experience in Global Corporate Actions, Tax Reclaims, Fixed Income, Security Master and Pricing.

Fullam has been an active participant of the ISITC Corporate Actions Working Group since 2005. During his ISITC experience, Fullam has fostered relationships with members of the association through the sharing of ideas and discussions on industry drivers that impact global financial institutions.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “Paul's background provides him with a deep understanding of ISO messaging and the business processes surrounding Corporate Actions. In addition, his role in managing product implementations and conducting business analyses gives him an appreciation of the needs of global financial institutions. We are pleased that Paul has been appointed a Co-Chair position of the ISITC Corporate Actions Working Group and are confident that this group will continue contributing to advocating standards that promote greater STP.”

Genevy Dimitrion, Chair of ISITC said, “ISITC welcomes members to actively participate and get more involved in efforts to enhance operational efficiencies in complex areas such as Corporate Actions. Paul's experience and in-depth knowledge of this space are invaluable in our mission to develop and promote best market practices for the global securities industry. We appreciate XSP's continued support of ISITC and are delighted to appoint Paul as a Co-Chair of the Corporate Actions Working Group.”

The mission of ISITC is to support global securities operations, to promote STP throughout the Industry, to recommend and endorse operating standards that will reduce risk and increase efficiency, and to use the combined expertise of its members to address developments within the industry.

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XSP Attains Gold Certified Partner Status in Microsoft Partner Program

Mon, 05 May 2008 00:00:00 CST

NEW YORK, NY – May 5, 2008 – XSP, a leading global provider of Corporate Actions software, announced today that it has attained Gold Certified Partner status in the Microsoft Partner Program with a competency in ISV/Software Solutions. Microsoft Gold Certified Partners represent the highest level of competence and expertise with Microsoft technologies, and work in the closest relationships with Microsoft.

The XSP™ v5 platform is XSP's latest state-of-the-art solution developed to automate each step in the processing of Corporate Actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilizing Microsoft .NET Framework 2.0 components and Web services for global enterprise-wide processing. A SWIFTReady-labelled application, 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).

“XSP is honored to attain this elite level of certification as a Microsoft Gold Certified Partner,” said Brendan P. Farrell, Jr., Chief Executive Officer, of XSP. “We are particularly pleased about this advancement to Gold level after being named a Microsoft Certified Partner just a few short months ago. Achieving this status is a reflection of our commitment to continually enhancing our technology and product functionality while providing our clients with world-class support services. Throughout our 12 years as a leading provider of Corporate Actions processing software, the combined strength of XSP along with the hard work, dedication and industry knowledge of our people all contribute to our ongoing growth and market-leading status.”

"Microsoft is pleased to name XSP a Microsoft Gold Certified Partner,” said Craig Saint-Amour, U.S. capital markets industry solutions director for Microsoft Corp. “The Gold Partner Certification is a mark of excellence and recognition of XSP's commitment to providing leading-edge solutions and assuring the highest levels of quality and service. As a Microsoft Gold Certified Partner, XSP secures specialized training, skills and knowledge to provide innovative Microsoft-based solutions to help our mutual clients achieve critical business and technology initiatives in corporate actions processing.”

Dan Retzer, Managing Director and Chief Technology Officer at XSP, said, “Reaching Microsoft Gold Certified Partner status is a great step forward in our quest to maintain our leadership position in Corporate Actions automation. We value the close working relationship and support that we have developed with Microsoft. With this certification, we have access to substantial resources and technologies that allow us to continue offering compelling solutions to meet our clients' ever-changing needs.”

XSP achieved Microsoft Gold Certified Partner status as an Independent Software Vendor (ISV), attaining the ISV/Software Solutions Competency with the XSP v5 platform for Corporate Actions automation. The XSP v5 solution passed independent, third-party laboratory tests for conformance with Microsoft’s highest standards for Windows Server tests, as well as .NET Framework and Web services tests.

The Microsoft Partner Program was launched in December 2003 and represents Microsoft’s ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace and delivers more value to help partners' businesses be successful.

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XSP Offers Interactive Data's Intra-Day Corporate Actions Data Through Comprehensive Software Platform

Tue, 29 Apr 2008 00:00:00 CST

New York, April 29, 2008 -- Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its intra-day corporate actions data will now be available through XSP's software platform.

Through the combination of Interactive Data's high-quality data and XSP's robust software, clients can have seamless access to tools and information designed to help them effectively manage and process more than 40 corporate actions event types, including mergers, tender offers, exchanges and rights offerings.

Interactive Data's Xcitek Corporate Actions™ Service can deliver notifications of newly announced and revised events to clients every two hours. Intra-day files are delivered to clients in a standard fixed format beginning at approximately 10:00 ET each day. The compilation of the five intra-day files reflects all of the data collected for the standard end-of-day feed that is available at approximately 19:00 ET.

XSP's corporate actions processing software is accredited with the SWIFTReady Gold Corporate Actions Label, is SWIFT 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification, response capture as well as a complete entitlement processing engine. This software is designed to mitigate the operational risks and costs associated with corporate actions processing. Currently, more than 30 clients receive Interactive Data's corporate actions information through XSP's software platform.

"Our latest joint effort with Interactive Data demonstrates our ongoing commitment to providing value-added enhancements and solutions to the global financial marketplace," said Brendan P. Farrell, Jr., chief executive officer at XSP. "By providing Interactive Data's intra-day corporate actions data via the XSP™ software, clients can manage the downstream processing of this mission-critical information to help further maximize operational efficiency and improve straight-through processing (STP) rates. We look forward to working with Interactive Data to deliver innovative offerings to the financial community."

"We are very pleased to expand our long-standing relationship with XSP by incorporating our intra-day corporate actions data with their software platform," said Robin Simpson, managing director of Reference Data, Interactive Data. "By delivering this high quality, comprehensive information throughout the day via sophisticated software, Interactive Data and XSP can help financial institutions effectively monitor critical events that can influence the financial markets."

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Harvey Colborne Joins XSP as Business Relationship Manager for EMEA

Mon, 21 Apr 2008 00:00:00 CST

LONDON, UK, 21 April 2008 – XSP, the leading global provider of Corporate Actions software, announced today the appointment of Harvey Colborne as Business Relationship Manager for EMEA. Based in London, Colborne will be responsible for supporting the EMEA sales program for the XSP™ Corporate Actions software solution in a sales and relationship management capacity.

Colborne brings over 12 years of experience to XSP defining and delivering IT solutions – primarily Corporate Actions – to the financial markets industry. Most recently, Colborne held a multi-faceted role as Principal Consultant and Head of Marketing and Pre-Sales at Corero, formerly Mondas. Prior to this, he held various project management, relationship management and operational positions at Corero, SmartStream Technologies, Chase Manhattan International, JPMorgan Investment Management and The Bank of New York (Europe).

Neil Sheppard, Managing Director and Chief Operating Officer of XSP EMEA, said, “We are delighted that Harvey has joined XSP. His strong relationship management skills and background in Corporate Actions automation are tremendous assets for our organisation. He has a detailed understanding of the space as well as extensive market knowledge in the areas of operational risk and software implementation. Harvey will play a pivotal role as we continue to gain momentum in the EMEA region. We welcome Harvey to XSP and look forward to leveraging his expertise to meet the needs and expectations of our growing global client base.”

-ENDS-

XSP Appoints Charles L. Watkins as Managing Director and Chief Financial Officer

Mon, 17 Mar 2008 00:00:00 CST

BIRMINGHAM, AL. – March 17, 2008 – XSP, the leading global provider of Corporate Actions software, announced today the appointment of Charles L. Watkins as Managing Director and Chief Financial Officer.

Brendan P. Farrell, Jr., Chief Executive Officer, XSP commented, “Over the past year, XSP has grown considerably – specifically with the continued expansion of our global client base and the launch of the XSP™ v5 Corporate Actions platform. As we further strengthen our business, we will continue to augment our executive management team with talented leaders. Charlie has the knowledge and financial experience to help guide our continued growth in profitability over the coming years through the execution of new strategies, enhancement of fiscal procedures and delivery of our operational cost management initiatives. His managerial experience and entrepreneurial background will be invaluable as we continue with our focus on market leadership and growth. We welcome Charlie to the XSP management team and are confident that he will be a strong contributor to the continued success of our organization.”

Prior to joining XSP, Watkins owned and operated Sylacauga Health & Rehab Services, Inc., a nursing home and assisted living facility. For over ten years, he ran the overall business operations while managing all financial decisions and reporting. Prior to this, Watkins was employed in various roles of the Credit department at Parisian, Inc., an upscale department store chain based in Birmingham, AL.

Watkins holds a Bachelors of Science degree in Finance from Auburn University.

Watkins will be based out of XSP's Birmingham, AL corporate headquarters.

-ENDS-

XSP Hires Former Corero Project Manager and Business Analyst Ailean Maclean in Europe

Wed, 27 Feb 2008 00:00:00 CST

LONDON, UK – 27 February 2008 – XSP, the leading global provider of Corporate Actions software, announced today the appointment of Ailean Maclean as a Senior Business Analyst. Maclean will be responsible for supporting the EMEA sales program for the XSP™ Corporate Actions software solution in a pre-sales and business analysis capacity.

Based in London, Maclean will report to Neil Sheppard, Managing Director and Chief Operating Officer of XSP Europe.

“We are delighted that Ailean has joined our growing organisation,” said Sheppard. “Ailean has extensive knowledge of the complete global Corporate Actions lifecycle across various business types including investment banks, asset managers and stockbrokers, essentially complemented by excellent operating knowledge of SWIFT ISO 15022.”

Maclean joins the company from Corero, formerly Mondas, where she was a lead Business Analyst and Project Manager. Her responsibilities included requirement analysis, implementation project management, user acceptance testing and quality assurance management. Prior to Corero, Maclean held various positions at ADP Wilco Ltd., mostly recently as a Business Analyst within the Product Development team relating to the development of Settlement and Corporate Actions systems. She also held roles as a Pre-Sales Consultant.

Sheppard added, “XSP continues to recruit high-quality and experienced professionals who bring additional strength and depth to our company. These skills, established relationships and domain expertise are all essential ingredients if we are to continue to successfully grow in today's complex and rapidly-changing environment. Ailean certainly fills these requirements and will help XSP to expand in the EMEA region whilst complementing our existing team. We welcome Ailean to XSP and look forward to her contributions.”

-ENDS-

Anthony Scanga Joins XSP as Business Analyst of Operations Group

Mon, 11 Feb 2008 00:00:00 CST

BIRMINGHAM, AL. – February 11, 2008 – XSP, the leading global provider of Corporate Actions software, announced that Anthony Scanga has joined the company as a Business Analyst within the Operations group. Scanga will be responsible for Client Operations support, Professional Services engagements and global implementations while continually working with the Pre-Sales and Sales teams to support the XSP™ Corporate Actions platform.

Based in XSP's Alabama office, Scanga will report to Jon Montgomery, Senior Director of Professional Services and Operations.

Prior to joining XSP, Scanga worked at The Bank of New York Mellon as a Corporate Actions Manager responsible for a team of analysts processing global Corporate Actions activity, while personally managing 13 BONY premier accounts. During his 12-year tenure, Scanga held various roles including leading project teams to convert The Bank of New York clients to Mellon accounting platforms and acting in client-facing roles to support both current and potential new clients.

Frank Piraino, Managing Director of Global Operations and Client Services at XSP, said, "Tony's extensive experience and knowledge of Corporate Actions processing adds great value to XSP as well as our growing global client base. Tony has a great understanding of the complexity and risks involved within this area of Operations, having had first-hand experience managing a Corporate Actions department at The Bank of New York Mellon. We welcome Tony to XSP and look forward to continue recruiting similar high-calibre professionals as we continue to grow.”

-ENDS-

Fifth Third Bank Extends Contract with XSP and Migrates onto the XSP(tm) v5 Platform

Mon, 07 Jan 2008 00:00:00 CST

NEW YORK, NY. – January 7, 2008 – XSP, the leading global provider of Corporate Actions software, announced today that Fifth Third Bank, a Fortune 500 company ranked among the nation’s largest corporations, has signed a multi-year renewal agreement for its XSP™ Corporate Actions solution. Fifth Third Bank will be one of the first XSP clients to migrate onto the new XSP v5 platform.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of Corporate Actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered 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. A SWIFTReady-labelled application, 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).

Diana Willen, Vice President, Manager of Trust Securities Services at Fifth Third Bank, said, “We have an established relationship with XSP which spans close to a decade of working with a team of professionals who understands our business and requirements to ensure optimal Corporate Actions processing. In an environment where constant change is inevitable, XSP provides Fifth Third with the solutions and resources to reduce costs, maximize operational efficiencies, and respond quickly to market changes. The migration onto the XSP v5 platform positions us for continued success by utilizing innovative solutions in our operations to reflect the high-quality products and services that we deliver to our clients.”

“We built the XSP v5 platform to provide scalable solutions that expand with our clients’ growing needs," said Frank Piraino, Managing Director of Global Operations and Client Services at XSP. "In addition to making ongoing investments in technology and product functionality that empower our clients to excel in their operations, we are also continuing to build the infrastructure to support our clients. This renewal contract is further validation that our solutions are delivering long-term value. We are excited to continue working with Fifth Third as their automated Corporate Actions solutions provider.”

-ENDS-

Harvard Management Licenses XSP(tm) v5 Corporate Actions Software

Mon, 17 Dec 2007 00:00:00 CST

NEW YORK, NY. – December 17, 2007 – XSP, the leading global provider of Corporate Actions processing software, announced today that Harvard Management Company, Inc. (HMC) has licensed the XSP™ v5 Corporate Actions platform. HMC has also licensed the web-based eTRAN™ (Electronic Tracking Response and Notifications) and SWIFT ISO messaging modules for the notification and response capture of elections processing.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. A Microsoft Certified Partner, XSP has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture (SOA), utilizing Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady Gold 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, of XSP, said, “We welcome HMC to our growing global client base. HMC is one of several clients taking advantage of the XSP v5 platform. The innovative technology of the XSP v5 solution was developed to cater to the unique requirements of our clients – incorporating proven functionality with the latest industry standards and technological advances. We look forward to working with HMC on this implementation.”

-ENDS-

BB&T Signs Multi-Year Renewal Agreement with XSP for Automated Corporate Actions Processing

Wed, 05 Dec 2007 00:00:00 CST

NEW YORK, NY. – December 5, 2007 – XSP, the leading global provider of Corporate Actions processing software, announced today that Branch Banking & Trust Co. (BB&T), the nation's 14th largest financial-holding company, has signed a multi-year renewal agreement for its XSP™ Corporate Actions solution. As part of the renewal, BB&T will also license the DTC Redemption and Reorganization data files. The Bank recently deployed the web-based eTRAN™ module for automated notification and response capture of elections as well as the Export File Utility to enhance the downstream processing of notifications and responses.

Accredited with the SWIFTReady Gold Corporate Actions Label, the XSP application is SWIFT 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification, response capture as well as a complete entitlement processing engine. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple vendor sources including custodian data in the SWIFT 15022 compliant format. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.

Roger Lieber, Vice President of Trust Operations at BB&T, said, “XSP is a key partner in helping us to reduce our exposure to the risk inherent in the processing of Corporate Actions transactions. The functionality of the XSP software product facilitates, streamlines and documents the communication process, allowing us to accurately and efficiently execute on our clients’ directions. The quality of the product and the excellent support we receive were the chief factors in our decision to sign a multi-year renewal."

"We are delighted to extend our relationship with BB&T," said Frank Piraino, Managing Director of Global Operations and Client Services at XSP. "Their recent deployment of the eTRAN module and Export File Utility will further streamline their processing of the notification and response-capture of elections – and as a result, improve efficiency of the overall Corporate Actions operation. This renewal reaffirms that XSP has a clear understanding of the business objectives and requirements of leading financial institutions. We appreciate BB&T’s recommitment to XSP’s products and services and look forward to continue servicing them.”

-ENDS-

Former Corero Technical Architect and Principal Technical Consultant Stephen MacHardie Joins XSP in Europe

Tue, 06 Nov 2007 00:00:00 CST

LONDON, UK, 6 November 2007 – XSP, the leading global provider of Corporate Actions software, announced today that Stephen MacHardie has joined the company as a Senior Analyst. His responsibilities include technical and business requirements gathering, product management, account relationship management and involvement with market-driven initiatives. MacHardie is also responsible for providing sales support for the company’s growing global client base using the XSP™ Corporate Actions software solution.

Prior to XSP, MacHardie worked for Corero, formerly Mondas, where he joined as Development Manager before taking on the role as Technical Architect and Principal Technical Consultant. At SOCX Ltd, MacHardie was a developer whilst managing the Production Support Group. He also worked at Credit Lyonnais Rouse Ltd as an analyst/programmer.

"We are delighted to welcome Steve to XSP," said Frank Piraino, Managing Director of Global Operations and Client Services at XSP. "His appointment is well aligned with our corporate strategy of recruiting high-calibre professionals with a proven track record of delivering results. In addition to his client-facing role, Steve will be a key contributor to our product management goals, given his technical expertise and business knowledge of Global Corporate Actions.”

“Steve’s appointment further strengthens our already well-established team in London,” said Neil Sheppard, Managing Director and Chief Operating Officer of XSP Europe. “He brings a wealth of credentials and experience in Corporate Actions software technology that will support our ambitions to further service global financial institutions in streamlining their operations. We look forward to the benefits Steve will bring to our growing organisation and global client base."

-ENDS-

International Broker-Dealer Goes Live with XSP(tm) Corporate Actions Automation Software

Mon, 29 Oct 2007 00:00:00 CST

NEW YORK, NY. – October 29, 2007 – XSP, the leading global provider of Corporate Actions processing software, announced today that after a thorough market review analysis, the broker-dealer arm of an international financial services provider, ranked among the top 25 financial institutions worldwide, has selected the XSP™ software for automated Corporate Actions processing and has gone live with the application. The client also rolled out the eTRAN™ (Electronic Tracking Response and Notifications) module for the automated notification and response capture of elections.

Accredited with the SWIFTReady Gold Corporate Actions Label, the XSP application is SWIFT 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification, response capture as well as a complete entitlement processing engine. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple vendor sources including custodian data in the SWIFT 15022 compliant format. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.

Frank Piraino, Managing Director of Global Operations and Client Services, at XSP, commented, “The addition of this prestigious organization to our global client base is another example of the markets’ ongoing demand for a proven Corporate Actions software solution. With the deployment of the XSP software within an aggressive timeline, they are benefiting from an automated Corporate Actions environment, mitigated risk and maximum operational efficiency with a streamlined interface to their global custodian network. We are delighted that they have gone live with the XSP solution and look forward to continuing a long-term relationship with such a notable financial institution.”

-ENDS-

XSP Accredited with SWIFTReady Gold Corporate Actions Label for 2007 in Conjunction with Microsoft BizTalk Accelerator for SWIFT

Tue, 02 Oct 2007 00:00:00 CST

LONDON, UK. – 2 October 2007 – XSP, the leading global provider of corporate actions software, announced today that the company’s flagship product, XSP™ v5, has been accredited with the SWIFTReady Gold Corporate Actions Label for 2007 in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Gold Financial Enterprise Application Integration (EAI) 2007 awarded product. With this certification, XSP continues its leadership in providing clients with a robust and innovative platform for end-to-end automated corporate actions processing.

By recognising XSP with its highest level of certification for interoperability, SWIFT has validated that the XSP v5 solution, utilising Microsoft BizTalk Accelerator for SWIFT, adheres to a strict set of criteria linked to the support of SWIFT messages and functionality for an area of securities processing that has long been considered one of the most challenging and high-risk operations for financial institutions. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s requirements.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of corporate actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered 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. A SWIFTReady-labelled application, 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).

“XSP has established itself as a strong partner with SWIFT, helping global financial institutions maximise the operational efficiencies associated with corporate actions processing,” said Herve Valentin, Partner Solutions and Business Development Manager, SWIFT. “In achieving our highest level of certification, XSP has proactively demonstrated its ability to meet the latest standards offered by SWIFT. We are pleased to award XSP with the SWIFTReady Gold Corporate Actions Label and look forward to continue working with them to deliver best market practices to the global financial industry.”

Microsoft’s BizTalk Accelerator for SWIFT enables clients to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping to deliver rapid ROI by reducing the complexity of bilateral communications between institutions. It also provides clients with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.

“Microsoft’s goal is to enable a strong partner ecosystem to provide integrated solutions, supporting SWIFTSolutions and standards,” says Sheida Hadji-Ashrafi, Worldwide Industry Manager, Payments, Microsoft. “Using Microsoft’s cost effective and efficient .NET platform and BizTalk Accelerator for SWIFT, partners such as XSP are developing applications to help financial institutions simplify their infrastructure and connect to SWIFT across one integrated messaging system. XSP’s SWIFTReady Gold Corporate Actions Label recognises the work they are doing in this area."

“This certification is yet another significant milestone in the continuing growth of our organisation and the development of our product and service offerings,” said Dan Retzer, Managing Director and Chief Technology Officer at XSP. “By integrating the XSP v5 solution with Microsoft BizTalk Accelerator for SWIFT, our clients can leverage Microsoft’s advanced technology to support all SWIFT messages and provide comprehensive connectivity interfaces.”

Neil Sheppard, Managing Director and Chief Operating Officer of Europe at XSP, said "We are honoured that SWIFT has awarded XSP with the SWIFTReady label for the third consecutive year. XSP is committed to delivering proven and cutting-edge solutions that address the critical business and technology needs of financial institutions worldwide.”

XSP Named Microsoft Certified Partner

Thu, 27 Sep 2007 00:00:00 CST

NEW YORK, NY. – September 27, 2007 – XSP, the leading global provider of Corporate Actions software, announced today that it has been named a Microsoft Certified Partner in the Microsoft Partner Program with a competency in ISV/Software Solutions. XSP has demonstrated its expertise with Microsoft technologies and proven its ability to meet clients’ needs for enterprise solutions that balance performance, reliability, scalability, security and cost. This certification shows the depth and flexibility of XSP as a solutions provider and the continuing ambitions to deliver the highest quality software and services through a close working relationship approach that encompasses the entire IT service cycle - planning, implementation, maintenance, measurement and review.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of corporate actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilizing Microsoft .NET Framework 2.0 components and Web services for global enterprise-wide processing. A SWIFTReady-labelled application, 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).

“XSP is honored to be named a Microsoft Certified Partner,” said Brendan P. Farrell, Jr., Chief Executive Officer, of XSP. “Not only have we achieved the Certified Partner level, but we are also working closely with Microsoft’s Worldwide Financial Services Group to bring solutions to market. We have established a strong reputation for delivering a proven Corporate Actions solution supported by world-class client services through our Professional Services program. Our alliance with Microsoft provides us with access to state-of-the-art technologies and resources to enhance our offerings, allowing us to deliver even more value and benefits to our clients. Achieving Microsoft Certified Partner status further validates the benefits of our continuous investment in our technology solutions and our ongoing commitment to excellence.”

“Clients turn to solution providers who can act as expert advisors for their long-term strategic technology goals,” said Craig Saint-Amour, U.S. capital markets industry solutions director for Microsoft Corp. “The designation of Microsoft Certified Partner is provided to companies that demonstrate superior client services, have proven expertise and have attained advanced Microsoft certification for their technologies. Microsoft recognizes XSP for its skills and expertise in providing technological solutions, built upon the familiar, easy-to-use and widely supported Microsoft platform that are vertically relevant for financial services customers.”

Dan Retzer, Managing Director and Chief Technology Officer at XSP, said, “Our goal at XSP is to develop and deliver the most functionally-rich Corporate Actions system that fully leverages and capitalizes on the most innovative technology. Our working relationship with Microsoft provides us with unmatched technological advantages and capabilities. This distinction of Microsoft Certified Partner status is further proof of XSP’s leadership in delivering quality solutions that meet the high expectations of Corporate Actions and technology professionals.”

XSP achieved Microsoft Certified Partner status as an Independent Software Vendor (ISV), attaining the ISV/Software Solutions Competency with the XSP v5 platform for Corporate Actions automation. The XSP v5 solution passed independent, third-party laboratory tests for conformance with Microsoft’s highest standards for Windows Server tests, as well as .NET Framework and Web services tests.

The Microsoft Partner Program was launched in December 2003 and represents Microsoft’s ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace and delivers more value to help partners’ businesses be successful.

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XSP Partners with Evare to Facilitate Seamless Integration for Clients with Custodians and Prime Brokers

Wed, 26 Sep 2007 00:00:00 CST

NEW YORK, NY. – September 26, 2007 – XSP, the World’s leading provider of Corporate Actions software, announced today that it has partnered with Evare, LLC, a managed service provider headquartered in Burlington, MA, to facilitate its clients’ use of the XSP™ Corporate Actions software solution to standardize their interfaces to Custodians and Prime Brokers. Additionally, Evare will provide SWIFT connectivity managed services to clients of the XSP software solution.

The XSP application is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and SWIFT ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple market, vendor, Custodian and Prime Broker data sources. Through extensive workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically reconciled, delivered to global custodians and updated to back-end systems for entitlement processing.

Evare's core competencies revolve around financial data acquisition, enrichment, transformation and delivery. Evare connects financial institutions to clients and counterparties using each firm's preferred method of connectivity, custom data formats and industry standards to establish direct connectivity with the systems of record within each institution. All parties can utilize their existing systems and protocols without having to upgrade or install software. This partnership allows XSP clients to facilitate a single connectivity point between clients and their counterparties, subsidiaries and internal systems.

Brendan P. Farrell, Jr., Chief Executive Officer, of XSP, said, “This new interface with Evare is another value-added offering to complement the XSP software solution for maximum operational efficiency in the processing of Corporate Actions. As a message transformation and SWIFT enabler, Evare will allow our clients to process non-standard or proprietary message formats through the XSP software as well as provide the ability for non-SWIFT clients to communicate across the SWIFT Network, or through the gateway. This offering will facilitate easier integration of the XSP solution with our client’s proprietary data sets. It will also provide non-SWIFT XSP clients with the benefits and capabilities of a SWIFT participant to handle messaging traffic on a service bureau basis.”

Frederick Stanley, President and CEO of Evare, commented, “By forming this partnership with XSP, global financial institutions will further enable STP while realizing immediate return on investment (ROI) in Corporate Actions processing. Evare’s managed service offering streamlines the communications chain by providing data transformation and delivery over the SWIFT network or via any preferred communications method, protocol or standard, without the need to change existing internal systems and processes. Through this strategic alliance, XSP and Evare bring together best-of-breed solutions that offer flexible and cost-effective options for financial institutions of all types and sizes.”

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Brandes Investment Partners, L.P. Licenses XSP(tm) Solution for Global Corporate Actions Automation

Mon, 24 Sep 2007 00:00:00 CST

NEW YORK, NY. – September 24, 2007 – XSP, the leading global provider of Corporate Actions software, announced today that Brandes Investment Partners, L.P. (“Brandes”), a leading global investment advisory firm with $125 billion in assets under management as of June 30, 2007, has licensed the XSP™ solution for global Corporate Actions processing. Brandes will also roll out the eTRAN™ (Electronic Tracking Response and Notifications) and XSP ISO messaging modules for the automated notification of Corporate Actions to fund managers, the electronic capture of responses for voluntary and optional events, and the automation of instructions to its global custodian and prime broker networks.

The XSP application is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and SWIFT ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple market, vendor and custodian data sources. Through extensive workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically reconciled, delivered to global custodians and updated to back-end systems for entitlement processing.

After a careful review of the solutions in the marketplace, Brandes made the decision to sign with XSP because of the product’s proven functionality as well as the company’s established track record, subject matter expertise and active involvement in industry initiatives, such as ISITC and SMPG. XSP’s continuous investments in technology and product functionality to enhance its offerings were also factors in Brandes’ decision. The eTRAN module will automate notifications and responses internally with its research analysts, while the XSP ISO messaging module will streamline communications with custodians and broker/dealers.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “This new account win is extremely exciting for XSP as Brandes Investment Partners is one of the largest private asset managers in the U.S. They are a well-respected name in the business with a philosophy of practicing long-term strategy in their investment process. With the XSP software, they will continue to serve the best interest of their clients by implementing a solution that automates their Corporate Actions process. Whether their clients are internal or external, the notifications and response processing of elections will be streamlined via our eTRAN and XSP ISO messaging modules. We are delighted to welcome Brandes as our latest XSP client and look forward to working with them to enhance their Corporate Actions operations.”

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Daniel E. Retzer Named to the Board of Directors of the Alabama Information Technology Association

Mon, 20 Aug 2007 00:00:00 CST

BIRMINGHAM, AL. – August 20, 2007 – XSP, the leading global provider of Corporate Actions software, announced today that Daniel E. Retzer, the company’s Managing Director and Chief Technology Officer, has been named to the Board of Directors of the Alabama Information Technology Association (AITA). The AITA is a state-wide trade association that is committed to growing and supporting Alabama-based organizations utilizing, supporting and affiliated with IT.

The AITA advocates, educates and promotes Alabama organizations engaged in providing IT products and services. The goals of AITA are to actively promote growth and serve as a voice for the industry; to provide a forum for the sharing of business and technical experience among industry professionals; to promote the desirability of Alabama as a place for IT industry and infrastructure enterprises to start, locate, grow and prosper; to support members in marketing their products and services worldwide; and to provide and refer products and services that enhance the competitiveness of association members.

Kate Gray, Executive Director of the AITA, said, “The AITA is thrilled to have Dan aboard. As the association grows, we are increasing Board and membership representation from the high-tech and software companies around the state. Having the expertise of technical innovators, like Dan, on our Board of Directors will provide a well-rounded group of talent, ideas and leadership for the AITA.”

“I am honored to be chosen as a Board member for the AITA,” said Retzer. “It is an organization that I deeply respect and have long supported since my enrollment in the Information Engineering Management program at the University of Alabama at Birmingham. The AITA represents such a dynamic group of technology professionals joining together to exchange ideas, address issues and support the industry. I look forward to working with the AITA and its members to promote their cause.”

Brendan P. Farrell, Jr., Chief Executive Officer of XSP, said, “We are very pleased to see that Dan has been elected to the AITA Board of Directors. Leading XSP’s Technology team in the re-engineering of our latest global software release, XSP™ v5, has given Dan valuable insights and expertise that will greatly benefit the Board’s mission. The AITA has picked up a great industry leader.”

As CTO, Retzer is responsible for all technology operations, including the Software Development Lifecycle, Project Management, Product Management and IT/Systems Management. His involvement in the transformation of XSP – from domestic provider to global leader – has been as principal decision maker on technology and product architecture initiatives. This involves strengthening XSP's partnerships with other premier, global corporations and organizations – including Microsoft and SWIFT – as well as recognizing worldwide technology trends in financial services and guiding XSP's technology strategy to meet those trends.

Retzer is responsible for spearheading the development of XSP v5, a service-oriented platform built around Microsoft technologies. XSP v5 is specifically engineered for global markets and provides the most flexible automation platform in the Corporate Actions space.

Prior to joining XSP, Retzer held positions as Webmaster and Web Services Manager at the Colonial BancGroup, Inc. in Montgomery, AL, where he was responsible for overseeing a 3,500-user corporate intranet. He also served as Technical Manager for Colonial's Internet Banking product.

Retzer is a frequent speaker on the topics of Enterprise Architectures and Global Technology Leadership for various events and organizations, including the Society for Design and Process Sciences. He is the co-creator of the Service-Oriented Enterprise Engineering Lifecycle (SOE2L) - a lifecycle for managing enterprise-wide implementation of Service-Oriented Architectures that is used to streamline the operations of global corporations and government agencies alike. The SOE2L was premiered at the Ninth World Conference on Integrated Design and Process Technology in July of 2006.

Retzer graduated from Auburn University with a BA in Technical Communication, and from the University of Alabama at Birmingham with a MS in Electrical Engineering. In addition to serving on the Board of Directors for the AITA, Retzer serves on the Auburn University Department of English Alumni Advisory Board and on the Magic City Technology Council Executive Committee.

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XSP Offers Withholding Tax Reclaim Automation through Partnership with Web Services Integration

Wed, 15 Aug 2007 00:00:00 CST

LONDON, UK. – 15 August 2007 – XSP, the leading global provider of Corporate Actions software, announced today that it has formed a strategic partnership with Web Services Integration Ltd., the leading provider of business solutions for withholding tax reclaims processing via its Xceptor® Tax Hub product. Through this partnership, the XSP™ software will integrate with the Xceptor Tax Hub product to automate the withholding tax reclaim process within the Corporate Actions lifecycle.

Both companies’ respective solutions are built on a common technology platform using .NET architecture in a Web Service-enabled environment for easy integration and flexibility.

The v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of Corporate Actions. From Data Management to Notification and Response Capture to Entitlement Management, global financial institutions gain immediate return on investment (ROI) with its flexible modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilising .NET components and Web Services for global enterprise-wide processing. A SWIFTReady-labelled application, 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).

The Xceptor Tax Hub product integrates seamlessly within its customers’ operational infrastructure and manages the often complex reclaim process quickly and efficiently. By automating each step in the process – Data Management, Documentation Management, Workflow, Query Handling, Forecasting and Reconciliation – clients obtain their cash from tax authorities in a timelier manner.

Peter Madigan, Director at Web Services Integration said, “We are delighted to form this strategic alliance with XSP. The fact that both solutions are built on the same .NET technology platform allows for faster deployment and reduces the cost of ownership for our clients. The Xceptor Tax Hub eliminates manual intervention, reduces errors, enhances client services and improves cash flow in the withholding tax reclaim process. By integrating the Xceptor Tax Hub product with the XSP v5 solution, the tax reclaim process within the Corporate Actions lifecycle is completely automated – from dividend announcement through to closure. Together with XSP, global financial institutions can further promote STP in their Corporate Actions operations.”

Neil Sheppard, Managing Director and Chief Operating Officer of Europe at XSP, said, “By joining forces with Web Services Integration, the XSP v5 solution automates another critical process in the Corporate Actions chain. This partnership will provide our mutual clients with an end-to-end Corporate Actions processing solution that includes the automation of withholding tax reclaim. Having both solutions developed on Microsoft .NET platforms makes them highly-compatible for easier integration and flexibility. We look forward to working with Web Services Integration and the opportunities that this joint offering presents to both organisations.”

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XSP Announces Exceptional Start to First Quarter of 2007

Mon, 30 Apr 2007 00:00:00 CST

NEW YORK, NY. – April 30, 2007 – XSP, the leading global provider of Corporate Actions software, announced an exceptional start for 2007 with the closing of three new global deals in the first quarter and the introduction of its latest version of software, XSP™ v5.

At the SIFMA 34th Annual Operations Conference and Exhibit in Kissimmee, FL, XSP will be unveiling XSP v5, the next generation in Corporate Actions technology incorporating enterprise-wide integration and globally-scalable architecture. The XSP v5 platform is an architectural rewrite of the application based on Microsoft .NET technology. XSP v5 technology has been developed and authored to meet global financial institutions’ needs by servicing multiple business platforms within one application. Furthermore, XSP v5 software includes enhanced feature-rich functionality for global Corporate Actions processing for superior straight-through processing.

Accredited with the SWIFTReady Corporate Actions Label, the XSP application is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.

Brendan P. Farrell, Jr., Chief Executive Officer of XSP, said, “The re-write of the leading Corporate Actions processing system was not a small undertaking. With significant investments and three years of product planning and development, the XSP v5 software represents the most technically-advanced global processing solution for Corporate Actions. The XSP v5 solution also symbolizes our commitment to Microsoft and our active role in partnering with its worldwide vision in the capital markets space. Having signed with three major global financial institutions in the first quarter of the year, we are pleased with our sales results thus far. We look forward to a very exciting chapter at XSP as we continue to roll out the XSP v5 solution over the coming months.”

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XcitekSolutionsPlus Remains Independent as the Assets of Market Data Provider Xcitek, LLC is Acquired by Interactive Data Corporation

Wed, 04 Apr 2007 00:00:00 CST

NEW YORK, NY. – April 4, 2007 – In response to the news announced today that the assets of market data provider Xcitek, LLC are being acquired by Interactive Data Corporation, XcitekSolutionsPlus, LLC (“XSP”) confirmed that it will remain an independent and separate business entity developing and supporting its flagship software solution, XSP™, for Corporate Actions processing automation.

Prior to the acquisition, three companies were branded under the well-established “Xcitek” name. These included: Xcitek, LLC, provider of market data solutions; XcitekSolutionsPlus, LLC, provider of Corporate Actions software; and Xcitek Consulting Services Inc., provider of full-service staffing to financial institutions. XcitekSolutionsPlus, LLC, and Xcitek Consulting Services Inc. will continue to operate as separate independent business entities, with XcitekSolutionsPlus, LLC being re-branded as “XSP”.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, commented, “While the three companies provided complementary offerings and marketed under the common ‘Xcitek’ brand name, each entity always focused on their individual core businesses. With the sale of the market data company, the XSP software and Xcitek consulting businesses will continue to grow within their respective sectors.”

XSP will remain in its current locations with offices in Birmingham, London and New York. To facilitate growth in the Corporate Actions software business, the XSP New York staff recently relocated to new space on the 20th floor at 5 Hanover Square. The acquisition of the market data company by Interactive Data Corporation has no impact on XSP clients or its personnel.

“XSP was fortunate to be born out of the leading provider of Corporate Actions data solutions and we have successfully leveraged this expertise to position us as the leading player in the Corporate Actions automation space,” said Farrell. “Now as a mature organization with a proven implemented solution supporting over 55 clients globally, the acquisition of the assets of market data provider Xcitek, LLC offers even greater opportunity for us to grow, independent of any other related business entities. This is the most exciting time for us yet, as we launch the V5 platform – the next generation in Corporate Actions automation technology. V5 incorporates our extensive industry-leading business processes – developed with our global client partners over our first 11 years – with our new SOA/Web Services based technology that facilitates integration across the enterprise backboned with a more robust and secure globally-scalable architecture.”

XSP supports the most comprehensive Corporate Actions data interfaces in the financial industry with the world’s leading data providers. In addition to Xcitek and Interactive Data, XSP also has interfaces with such international market data providers as Bloomberg, Canadian Depository for Securities Ltd. (CDS), DTCC, Exchange Data International, Fidelity ActionsXchange, London Stock Exchange, Reuters, Standard & Poor’s, Telekurs and more.

About XSP
XSP is the leading provider of Corporate Actions automation software for the global financial services industry. Accredited with the SWIFTReady label, XSP is an ISO 15022 compliant platform 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. The XSP 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 STP. With over 55 global clients, XSP is the most widely-implemented Corporate Actions solution in the world.

For more information, please visit us at www.xsp.com.

Huntington National Bank Licenses XSP(tm) from Xcitek® for Corporate Actions Processing

Mon, 26 Mar 2007 00:00:00 CST

New York, NY, March 26, 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that Huntington National Bank, a multi-billion dollar regional bank headquartered in Columbus, OH, has licensed the XSP™ software for automated Corporate Actions processing. Huntington will also roll out eTRAN™ (Electronic Tracking Response and Notifications) to over 1,000 of its users for the automated notification and response capture of elections. In addition to XSP, Xcitek is providing Huntington with its award-winning Corporate Actions data.

Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

Rick Shea, Senior Vice President at Huntington National Bank, said, “We selected Xcitek because they hold the leadership position in providing high-quality Corporate Actions products and world-class client services. For more than 140 years, Huntington has been providing the most innovative financial products and services to our customers. XSP will allow us to automate the processing of Corporate Actions data from Xcitek, while leveraging the eTRAN module to streamline internal and external client communications. We are delighted to enter into this agreement with Xcitek and look forward to the successful implementation of XSP at Huntington.”

Frank Piraino, Senior Vice President, XSP, at Xcitek, said, “Huntington’s selection of Xcitek’s solutions underlines our ability to provide end-to-end Corporate Actions processing and reduce the associated operational risks and costs. We believe that solid technology is crucial to helping our clients realize growth and business objectives in today’s highly-competitive environment. With XSP, Huntington is equipped with the technology and support needed to achieve their goals. We look forward to working with Huntington in capitalizing on XSP in their trust operations.”

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Daiwa Securities Extends XSP(tm) Corporate Actions Software Agreement with Xcitek®

Wed, 21 Mar 2007 00:00:00 CST

New York, NY, March 21, 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that Daiwa Securities America Inc. has extended its XSP™ software agreement for Corporate Actions processing. The Japanese-owned broker/dealer, which experienced a record-breaking implementation of the application in just 30 days in 2004, has renewed its contract for another three years.

Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

Nicholas C. Rubino, Executive Vice President & Chief Operations Officer, at Daiwa Securities, commented, “We are delighted to extend our relationship with Xcitek. Since the implementation of XSP at Daiwa in record time three years ago, XSP continues to reduce the risks inherent in the Corporate Actions process while enhancing the services we provide to our clients. Integrated with SunGard’s Phase3 securities processing solution, XSP helps us to achieve greater levels of straight-through processing to maximize operational efficiency. The solid results that we have achieved with XSP make this contract renewal a natural choice.”

Frank Piraino, Senior Vice President, XSP, at Xcitek said, “This agreement represents Daiwa’s ongoing confidence in Xcitek to deliver solid solutions. We are fully committed to providing the highest levels of value and service for our global client base. XSP’s proven functionality and ongoing product development provide our clients with the necessary tools to meet their challenges and exceed their expectations. Daiwa is a valued XSP client and we are pleased to continue servicing them for another three years.”

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Xcitek® Targets for Early Implementation of XSP(tm) SWIFT Standards Release 2007 Upgrade

Mon, 19 Mar 2007 00:00:00 CST

New York, NY. March 19, 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced plans to accelerate its delivery of the SWIFT Standards Release (SR) 2007 Upgrade for its flagship Corporate Actions software, XSP™, to clients. Xcitek will be delivering its SR2007 upgrade by early third quarter 2007 to allow clients more time to test the industry changes impacting the XSP ISO module, well in advance of the October 27, 2007 effective date mandated by SWIFT.

Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

Dan Retzer, Chief Technology Officer, XSP, at Xcitek said, "As SWIFT standards evolve and new initiatives to further promote straight-through processing (STP) are set forth, our goal is to quickly integrate these industry-driven changes into our own system and make them available to our client base as soon as possible. We are actively engaged with industry organizations such as SWIFT, International Securities Association for Institutional Trade Communication (ISITC) and Securities Market Practice Group (SMPG) to incorporate best practices into our solutions for optimal Corporate Actions processing.”

Frank Piraino, Senior Vice President, XSP, at Xcitek commented, “The SWIFT Standards Release is one of the more challenging industry-driven changes that clients must endure. We understand the risk it presents to our clients and recognize the need to mitigate some of that risk and pressure by delivering our XSP SR2007 upgrade as soon as possible. Xcitek is pleased to accelerate the upgrade delivery and afford clients more time in the testing and overall preparation for the production date in October. We will continue to work closely with clients to provide the technical support necessary throughout the course of this initiative to ensure a smooth transition into production.”

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Xcitek® Completes Testing with SWIFT's Corporate Actions Test and Certification Proof of Concept

Thu, 01 Feb 2007 00:00:00 CST

London, UK, 1 February 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that it has successfully completed testing of ISO messages submitted by its flagship software, XSP™, to SWIFT's Corporate Actions Test and Certification Proof of Concept (POC) programme. Xcitek is committed to delivering full market practice compliance with the Event Interpretation Grid (EIG) guidelines published by the Securities Market Practice Group (SMPG) to ensure all XSP clients can achieve extremely high levels of straight-through processing (STP).

In an effort to improve the quality of FIN Corporate Actions messages and overall STP, the SWIFT Testing and Certification Service Proof of Concept tested the validity of ISO messages submitted by participants to comply with market practice as defined by the SMPG. The objectives of SWIFT’s POC were to successfully test several institutions and partners for their messaging data quality using an automated process and collect the participants’ feedback. As a result, SWIFT will be able to gauge the viability and support for future testing and certification of Corporate Actions messaging quality.

Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, 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.

Max L. Mansur, Product Manager for Custodian Services at SWIFT, said, “This programme measures the quality of FIN messages and Xcitek’s participation clearly shows their commitment to data quality for Corporate Actions processing. We are pleased with their results and appreciate their strong commitment and support of this programme to further mitigate the risks and processing costs associated with Corporate Actions.”

Neil Sheppard, Chief Operating Officer Europe, XSP, at Xcitek, stated, “Xcitek’s voluntary involvement in this programme demonstrates our continued leadership in the Corporate Actions space and provides XSP clients with the assurance that their chosen solution will always be tested for compliance with market and best practices. We are committed to working with industry utilities such as SWIFT to advocate standards that promote STP. We are delighted with our successful results in this programme and look forward to our continued partnership.”

Jon Montgomery, Senior Vice President of Professional Services, XSP, at Xcitek, commented, “We are happy to have successfully implemented all of the required Corporate Actions scenarios within SMPG guidelines. Achieving this high standard is a direct result of our continued investments in enhancing XSP’s ISO process module over the years.”

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Global Investment Management Firm Selects XSP(tm) from Xcitek® for Corporate Actions Processing

Wed, 24 Jan 2007 00:00:00 CST

New York, NY, January 25, 2007 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that a global investment management firm with over $100 billion in client assets, has selected the XSP™ software for automated Corporate Actions processing. The investment management firm, with headquarters in Boston, MA, has also licensed the ISO module for automated notification and response capture of elections.

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. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

Brendan P. Farrell, Jr., Chief Executive Officer, XSP, at Xcitek, said, “As Corporate Actions volumes continue to soar, global financial institutions, such as this latest client, recognize the need to automate their operations. In 2006, the markets experienced record-breaking M&A activity in the global investment management industry. With projections of this continuing upward trend set for 2007, we anticipate another year of significant growth and tremendous opportunities for XSP across all market segments.”

Frank Piraino, Senior Vice President, XSP, at Xcitek said, “We are pleased to welcome this global investment management firm to our growing client base: our second prestigious global asset manager in less than 30 days. Following an extensive product review of XSP, this client also took the opportunity to see the XSP software first-hand in a production environment at one of our other investment management clients. This on-site visit, combined with our leading position in the Corporate Actions space and our reputation for achieving smooth and timely implementations were all key factors in their decision to license XSP. We look forward to working closely with our latest client to meet their aggressive implementation schedule.”

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Xcitek® Commences Roll-out of XSP(tm) Corporate Actions Solution for Edinburgh Operations

Wed, 24 Jan 2007 00:00:00 CST

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) and ISO messaging modules for the notification and response capture of elections processing to streamline client communications.

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-rich and highly-scalable nature of XSP for maximum operational efficiency in Corporate Actions processing. We are excited about this new opportunity to grow our client base whilst continuing to provide world-class products and services.”

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."

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Xcitek® Selected by Financial News as One of 21 Technology Firms

Thu, 12 Oct 2006 00:00:00 CST

London, UK, 12 October 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced today that it has been selected by Financial News as one of the top 21 technology firms with the potential to shape the industry landscape in the new millennium. Xcitek joins this elite group in recognition as the Corporate Actions standard for its flagship software, XSP™.

Financial News is a leading European publication covering the investment banking, securities and fund management industry. Driven by accuracy and integrity, its editors and specialist financial reporters are experts in their own fields providing in-depth coverage of important topics in the financial industry.

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.

Brendan P. Farrell, Jr., Chief Executive Officer of XSP at Xcitek, said, “It is truly gratifying, in our 10th anniversary year to be selected as one of the 21 companies to lead the 21st century. We believe that this is a direct reflection of our continuous investment in technology, functionality and people. Our goal is to honour this recognition by ensuring XSP remains the premier solution for global Corporate Actions processing for many years to come."

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Xcitek® Invited by SWIFT to Join Corporate Actions Proof of Concept Programme for SMPG Initiative

Wed, 11 Oct 2006 00:00:00 CST

London, UK, 11 October 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced today that it has been invited by SWIFT to participate in its Corporate Actions Proof of Concept Plan. This new pilot programme will test the validity of MT564 messages submitted by participants to comply with the Securities Market Practice Group (SMPG).

In an effort to improve the quality of FIN messages and overall straight-through processing (STP), the SWIFT Testing and Certification Service/Proof of Concept Plan will act on messages received to verify and/or respond based on business content. The objectives of this programme are to successfully test 12 institutions for SMPG compliant usage of Corporate Actions messages using an automated process; and to gauge support for future testing/certification and collect participant feedback.

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.

Edward de Courcy-Ireland, Product Manager at SWIFT, commented, “We are pleased to welcome Xcitek to join the SWIFT Testing and Certification Service Proof of Concept. This initiative is aimed specifically at raising the quality of ISO 15022 Corporate Actions messages on SWIFT and we are delighted with Xcitek’s commitment to this cause, as shown by their participation. A testing and certification service will help SWIFT, Xcitek and their clients to demonstrate the quality of their messaging.”

Neil Sheppard, Chief Operating Officer Europe, XSP, at Xcitek, said, “Xcitek is honoured to receive this invitation from SWIFT to participate in their pilot programme focusing on Corporate Actions messages. Our philosophy is to provide high-quality processing solutions and achieve exceptional customer service for our global client base. By working closely with our clients and industry utilities such as SWIFT, we can continue to keep pace with evolving technology whilst offering industry-leading functionality through XSP.”

Jon Montgomery, Senior Vice President of Professional Services, XSP, at Xcitek, stated, “Our participation in the SWIFT Testing and Certification Service is another example of our ongoing development to advance our robust XSP Corporate Actions software solution. As a SWIFT Solutions Partner and a SWIFTReady labelled application in the Corporate Actions space, Xcitek maintains an active involvement in industry initiatives that promote STP. We fully support our clients’ participation in this programme and will work in partnership with them to further enhance the quality of MT564 messages.”

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Xcitek® Delivers the XSP(tm) SWIFT 2006 Standards Release

Mon, 09 Oct 2006 00:00:00 CST

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.”

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Xcitek® Concludes Successful Third Annual XSP(tm) User Group Conference

Mon, 02 Oct 2006 00:00:00 CST

New York, NY, October 3, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced the recent successful conclusion of its Third Annual XSP™ User Group Conference held September 19-21, 2006 at the Marriott Beach and Golf Resort in Hilton Head, South Carolina.

Hosted by Xcitek, the conference brought together business delegates, technical users and vendor partners of its flagship Corporate Actions software solution for a focused exchange of ideas, strategies and networking opportunities to maximize investments in XSP products and solutions. Delegates attended general and breakout sessions that featured previews of its imminent releases of XSP Version 4.7 and XSP V5, the next generation in Corporate Actions technology incorporating enterprise-wide integration and globally-scalable architecture; specialized topics such as the recently-introduced Account Relationship Management Division, Global Channel and Alliance Programs, Quality Assurance, New Products and Industry Initiatives including SWIFT ISO 2006 Updates; and presentations of integrated solutions offered by its vendor partners.

Frank Piraino, Senior Vice President at Xcitek said, “While we advance our technology and offer the most robust global Corporate Actions solution available, we are maintaining a keen focus on strong client relationships. Understanding their business challenges and goals combined with direct user feedback promotes our ability to deliver the richest functionality and maintain our leadership position in the market. The clients’ feedback will help provide the direction and guidance for future XSP product releases and client programs."

Delegates commented on the benefits from attending this conference, the exciting functionality in XSP Version 4.7 and the leading-edge technology surrounding XSP V5. The atmosphere was conducive to getting acquainted with other users – interacting, exchanging ideas and discussing best practices in Corporate Actions processing. Having everyone in the same location at the same time provided a convenient and mutually beneficial opportunity to discuss ways to further leverage XSP.

Mike Cordelli, Corporate Actions Manager and Trust Officer at U.S. Bank, said, “The XSP User Group Conference was very informative and provided us with comprehensive presentations of the upcoming product releases, XSP Version 4.7 and XSP V5. It was extremely helpful to have all the XSP product experts and staff available on-hand to answer our questions and it served as a great opportunity to network with peers in the Corporate Actions community.”

Barry Raskin, President of Telekurs (USA) said, “As an XSP partner and exhibitor at their annual conference each year, I continue to be impressed with the event as well as the ongoing research and development invested in the product. Xcitek maintains a close relationship with their global clients – keeping them informed in the process while focusing on the evolving changes within the industry from a global perspective. Their commitment to keeping an open dialogue further extends to their vendor partners, which allows us to continue offering a fully-integrated interface between Telekurs and XSP.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, “On behalf of Xcitek and the XSP User Group Executive Board, we would like to thank all the participants for their attendance and especially those who presented and made this another successful conference. This well-attended event provided delegates with informative updates, detailed presentations and open discussion forums to help optimize their Corporate Actions operations and best leverage their investments in Xcitek’s solutions.”

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Xcitek® Achieves Record Attendance at the Third Annual XSP(tm) User Group Conference Held in Hilton Head, SC

Tue, 19 Sep 2006 00:00:00 CST

New York, NY, September 19, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, is hosting its Third Annual XSP™ User Group Conference for clients of its global Corporate Actions software solution. The event, which starts today at the Marriott Beach and Golf Resort in Hilton Head, South Carolina, marks a record-breaking number of delegates registered as it celebrates XSP’s tenth anniversary of delivering feature-rich functionality and successful implementations to the global financial community.

With more than 100 Corporate Actions practitioners gathering in Hilton Head, this year’s agenda focuses heavily on the imminent releases of XSP Version 4.7 and XSP V5 – the next generation in Corporate Actions technology incorporating enterprise-wide integration and globally-scalable architecture. In addition, XSP Senior Managers and Product Experts will be covering specialized subjects such as the recently-introduced Account Relationship Management Division, Global Channel and Alliance Programs, Quality Assurance, New Products and Industry Initiatives such as the SWIFT ISO 2006 Updates. Delegates will have the opportunity to network with XSP Vendor Partners who will facilitate product demonstrations and presentations during the three-day conference. For the first time, breakout sessions will be held for business delegates along with those geared specifically for technical users.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “This year’s record attendance indicates strong interest in the automation of Corporate Actions processing and our clients’ initiatives to remain competitive in today’s changing and ever demanding business environment. Over the next few days, we will be delivering informative presentations about our much anticipated releases of XSP Version 4.7 and XSP V5, outlining the progress we have made in the last 12 months and we’ll be announcing some of key organizational changes we’ve put in place to ensure that our clients continue to receive the highest level of client service while we continue to support our rapid global expansion.”

“The XSP User Group Conference offers a unique opportunity to bring together business and technical users from our broad and diverse global client base,” said Frank Piraino, Senior Vice President of XSP Client Relationship Management and Sales Operations at Xcitek. “Delegates can network with other users to share ideas and discuss best practices that will help enhance their XSP experience for even greater return on investment for their Corporate Actions processing. This event is all about our clients – their ideas and feedback is essential in assisting us to continue enhancing our technology, building a stronger software solution and providing world-class client services and support.”

The conference concludes on Thursday, September 21, 2006 with the announcement of the newly-elected members to the XSP User Group Executive Board.

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Xcitek® Moves to Expanded Facilities in Europe

Thu, 24 Aug 2006 00:00:00 CST

New York, NY, August 24, 2006 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that it has relocated its London office to 68 King William Street, London EC4N 7DZ. The move to larger facilities is Xcitek’s second UK office expansion in twelve months. Headed by Neil Sheppard, Chief Operating Officer Europe for XSP™, the new London office is centrally located in the heart of the City’s financial district and will provide ample space to accommodate its growing staff and client base.

“The expansion of the European office is an integral part of Xcitek’s global business strategy,” said Sheppard. “As demand for our proven Corporate Actions automation solution increases, we continue to build upon our staff of experienced professionals, putting in place the appropriate resources to support our existing and prospective clients. Our office relocation to 68 King William Street addresses our current and future space requirements whilst fulfilling our facility needs with state-of-the-art technology to conduct in-house meetings and presentations of our market-leading solutions.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek said, “Xcitek continues to enjoy significant and steady growth amongst staff and clients alike, with our products and services being rapidly adopted by financial institutions globally. This latest move to offices with a superior range of business facilities and hi-tech services reflects the forthcoming release of XSP V5, the next generation in Corporate Actions technology incorporating enterprise-wide integration and globally-scalable architecture. We are excited by our continuing success and Xcitek’s role in driving technological innovation and excellence in our industry.”

Telephone numbers for the staff in the London office will change. However, they can continue to be reached on their current numbers.

In addition to London’s office move to larger facilities this year, Xcitek is also making preparations to expand its office space in New York to accommodate growth in the US.

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Xcitek Unveils New Websites

Mon, 19 Jun 2006 00:00:00 CST

New York, NY, June 19, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software, and consulting services, today unveiled redesigned websites featuring enhanced information, functionality and a new corporate ‘look-and-feel.’ The corporate website, www.xcitek.com, will serve as a portal to Xcitek’s divisional websites including Xcitek Market Data and XSP™ Corporate Actions Software.

Visitors to the corporate site will find expanded information about Xcitek’s global product and service range. Existing clients will be able to access their online market data services directly from the corporate homepage as well as its new Xcitek Market Data site. In addition, clients will benefit from upgraded capabilities such as improved automated client services and support.

The unveiling of the Xcitek Corporate and Xcitek Market Data websites follows the launch of the recently revamped XSP website. These upgrades to the online client experience coincide with Xcitek’s ‘20th Anniversary of Excellence,’ emphasizing our global focus and ongoing commitment to servicing the financial community. This new ‘look and feel’ will be reflected across all of Xcitek’s marketing collateral and initiatives.

“Xcitek has always been a leader in Corporate Actions and market data delivery and processing technology,” said Charles W. Price, Senior Vice President at Xcitek. “These upgrades to client online experience, along with the planned redesign of our award-winning service, Xcitek Online™ – slated for the third quarter of this year – affirm our commitment to client-focused technology development in all our products and services.”

”The new Xcitek Corporate website brings together all our offerings to one central platform,” said Brendan P. Farrell, Jr., Managing Partner at Xcitek. “Whether it is our market data, XSP Corporate Actions software or consulting services, visitors can easily navigate through www.xcitek.com and find information on the solutions to meet their specific needs. For users of our Corporate Actions software, the next phase of the XSP website will feature a Client Portal Support site where users can access critical documentation and communication tools.”

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Xcitek® Marks 20 Years of Excellence

Mon, 12 Jun 2006 00:00:00 CST

New York, NY, June 12, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software, and consulting services, today announced its 20th anniversary. This milestone year also marks the 10th anniversary of its flagship software, the market-leading Corporate Actions processing solution, XSP™.

Formed in 1986, the founding partners of Xcitek brought with them over 100 years of financial services experience including securities processing, asset servicing, market data and custody. This collective expertise enabled Xcitek to meet a critical market demand for comprehensive Corporate Actions information delivered in timely, electronic formats.

Over the past 20 years, the award-winning source for mission-critical data has been complemented with offerings such as Xcitek Cost Basis™, Xcitek Online™ and Xcitek Portfolio Reporting Service™. The latest addition to the Xcitek data product range is Xcitek Class Actions™, a service dedicated to helping financial institutions fulfill fiduciary obligations related to identifying, tracking and ultimately claiming settlements generated by Securities Class Action lawsuits.

“This Company was founded 20 years ago on the notion that there must be a better way to serve the financial community,” said Joseph M. Carvalhido, Managing Partner at Xcitek and one of the original founders. “Today we celebrate the validity of that idea, but more importantly, we take time to acknowledge the hard work of our employees who are dedicated to ‘Excellence’ in serving clients, and the loyalty of those clients. These ingredients are the recipe that has made this anniversary possible.”

In 1996, Xcitek joined forces with Solutions Plus, Inc. to deliver cost-effective automated solutions to the financial industry. Together, the pioneer supplier of the automated Corporate Actions data feed and the application software expert combined their strengths to form XcitekSolutionsPlus and launch XSP™. Today, over 50 global financial institutions utilize XSP to reduce the operational risks and costs associated with Corporate Actions processing. An ever-increasing global client base, continuous investment in research and development in a constantly evolving product and expansion into Europe and the Far East all contribute to Xcitek’s continued success.

Commenting on the XSP 10th year anniversary, Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “Over the past 10 years, Xcitek has licensed and implemented XSP at some of the world’s leading financial institutions. Our success is attributable to our intensive focus on continually upgrading the application with advancements in technology and enhancements to XSP’s feature-rich functionality. Combining this with a team of experienced professionals, we are committed to helping our clients maximize their operational efficiency. World-class service is our main priority and we look forward to continue serving our growing client base for many years to come.”

In conjunction with these significant milestones, Xcitek will be introducing its re-designed websites next week. The new Xcitek corporate website, www.xcitek.com, will serve as a portal to the individual division websites including Xcitek Market Data and XSP. The revamped XSP website is now live at www.xsp.com.

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Cantor Fitzgerald Europe Selects XSP(tm) from Xcitek® to Automate Corporate Actions Processing

Mon, 22 May 2006 00:00:00 CST

London, UK, 22 May 2006 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that Cantor Fitzgerald Europe has selected the XSP™ software solution to automate its Corporate Actions processing. XSP will automate Corporate Actions for Cantor Fitzgerald’s wholesale brokerage services group, BGC Partners LP. This new licence marks the second XSP win in Europe for 2006 alone.

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.

Mark Kinsella, Head of Corporate Actions at Cantor Fitzgerald Europe said, “We evaluated the global marketplace and found XSP to be the leader in this niche space. XSP’s ten years of expertise in Corporate Actions automation combined with its robust data scrubbing capabilities offers the most comprehensive and extensive solution to address our processing needs. XSP’s rich functionality will further enhance our Corporate Actions processing in an automated environment to help us achieve greater levels of straight-through processing (STP).”

Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, stated, “We are delighted that a prestigious organisation of Cantor Fitzgerald’s stature has selected XSP as the solution of choice. In keeping with their commitment to customer service and continuous innovation, XSP provides Cantor with a proven Corporate Actions processing system to deliver real added value to their clients whilst reducing operational risks and costs.“

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “As we celebrate XSP’s tenth successful year of delivering and supporting the world’s largest financial institutions, this announcement marks another major addition to Xcitek’s existing client base in Europe, and is indicative of our continuing global expansion in the Corporate Actions market.”

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German-Based Asset Manager Licenses XSP(tm) from Xcitek® to Automate Corporate Actions Processing

Mon, 15 May 2006 00:00:00 CST

London, UK, 15 May 2006 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that a major asset manager based in Frankfurt has licensed the XSP™ software solution to automate its Corporate Actions processing. This new licence, which complements an existing XSP account, represents its first major win in Germany. In addition to XSP, this latest client will roll out eTRAN™ (Electronic Tracking Response and Notifications) and the ISO 15022-compliant messaging module for the automated notification and response capture of elections.

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 new three-year contract is another significant win for XSP as it further extends our footprint in the European market. Our latest success in licensing XSP to the German counterpart of this existing U.S. account will provide a single, enterprise-wide solution in automating its Corporate Actions processing. Utilising its robust features and functionality, the client will further benefit from XSP’s powerful ISO module, taking one step closer in its quest to bring greater straight-through processing (STP) to Corporate Actions. We are delighted to continue providing our clients with second-to-none offerings, supported by world-class service, and look forward to welcoming other XSP global accounts in the very near future.”

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Leading Trust Bank Continues to Realize Corporate Actions ROI with XSP(tm) from Xcitek®

Tue, 09 May 2006 00:00:00 CST

New York, NY, May 9, 2006 – Xcitek®, the leading global provider of market data, Corporate Actions software and consulting services, announced that one of the nation’s largest diversified financial services companies continues to realize return on investment (ROI) with XSP™ and has extended its license of the Corporate Actions software solution for another three years.

A client since 2000, the leading trust bank runs on XSP in conjunction with the web-based eTRAN™ module for the notification and response capture of elections processing to further streamline client communications. In addition, the trust bank has been a long-time subscriber of the award-winning Xcitek Corporate Actions data.

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. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

“Xcitek is proud to have a nationally-recognized leader such as this Trust Bank among our list of clients that count on the XSP system every day to process Corporate Actions," said Frank Piraino, Senior Vice President of XSP Client Relationship Management and Sales Operations at Xcitek. "We remain committed to providing our clients with the powerful tools and solutions necessary to succeed in this competitive marketplace. We look forward to extending our relationship with this Trust Bank and to helping it achieve maximum operational efficiency.”

“It is with great pleasure that we are able to announce another XSP success story,” added Brendan P. Farrell, Jr., Managing Partner at Xcitek. “The extension of this contract further validates our position in this niche area and we are eager to continue providing world-class securities processing solutions that help meet our clients’ challenges and exceed their expectations.”

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Steven Price Joins Xcitek® as Application Support and Implementation Manager for XSP(tm) in Europe

Tue, 02 May 2006 00:00:00 CST

London, UK, 2 May 2006 – Xcitek®, the leading global provider of Corporate Actions software, market data and consulting services, announced today that Steven Price has joined the London office as Application Support and Implementation Manager for its flagship software solution, XSP™.

Based in London, Price will report directly to Neil Sheppard, Chief Operating Officer of XSP Europe.

Price brings with him over 18 years of experience in the financial markets. Most recently, he was IT Manager at Magenta One Limited, where he was responsible for the IT infrastructure at its London and Jersey offices. Price played a significant role in managing its .NET software development initiatives, focusing predominately on Securities Class Actions. Prior to this, Price was Implementation Project Manager at BrokerTec, a supplier of global electronic trading platforms to the fixed income market, where he was directly responsible for the client-facing aspects of the product implementation and development process from design through to maintenance. Before switching to a more IT-dominated role, Price traded fixed-income products and spent time working in an Operations support environment at Kleinwort Benson.

“We are excited to have Steven join the XSP team in London. His skills and industry experience are completely in line with the needs of our organisation and those of our clients,” said Sheppard. “Steven’s expertise covers a broad scope of the financial industry – including trading, technology, operations and product implementation. Specifically, his IT background and management of software implementations will add great value to XSP’s mission of delivering superior technology to the financial markets. We welcome Steven to Xcitek and look forward to leveraging his invaluable contributions for the continued success of our solutions.”

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Daniel Villardi Sr. Joins Xcitek® as Account Relationship Manager for XSP(tm)

Mon, 27 Mar 2006 00:00:00 CST

New York, NY, March 27, 2006 - Xcitek, the leading global provider of market data, Corporate Actions software and staffing solutions, announced today that Daniel Villardi Sr. has joined the company as an Account Relationship Manager for its flagship software solution, XSP™. In this position, Villardi will provide relationship management to post-implementation North American clients of XSP, playing a key role in building relationships by managing the ongoing exchange of information regarding client requirements and initiatives and proactively assessing product development priorities.

Based in New York, Villardi will report to Frank Piraino, Senior Vice President of XSP Client Relationship Management and Sales Operations.

“Dan’s knowledge and background in securities operations – specifically in corporate actions – will be a great asset to Xcitek as well as our valued clients,” said Piraino. “His understanding of the day-to-day operations and best practices of corporate actions processing will further enhance our clients’ experience with XSP. We welcome Dan to Xcitek and look forward to continuing to build our Company with talented and experienced professionals, to support our growing global client base.”

Villardi joins Xcitek from The Bank of New York, where he was Corporate Actions Specialist responsible for end-to-end processing, from data capture through to entitlement management. As Corporate Actions Supervisor at Mizuho Trust & Banking Co. (USA), his responsibilities included the implementation of Operational controls and procedures to reduce risk and increase efficiency. Villardi also played a critical role in addressing ISO requirements for Mizuho. Prior to this, Villardi held various operational roles at Industrial Bank of Japan Trust Co., IBJ Whitehall Bank & Trust Co., Bankers Trust Company and Fiduciary Trust Company International.

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FT Interactive Data and Xcitek's XSP(tm) Complete Comprehensive Testing of ISO 15022 Files

Fri, 17 Mar 2006 00:00:00 CST

London, UK, March 17, 2006 - FT Interactive Data Europe, part of Interactive Data (NYSE: IDC) and a leading supplier of financial information to global markets, and Xcitek, a leading global provider of market data, corporate actions software and staffing solutions, today announced that the two companies have successfully completed the comprehensive testing of FT Interactive Data’s latest ISO 15022 formatted corporate action files via Xcitek’s flagship software solution, XSP™. This upfront testing aims to accelerate the time to production for FT Interactive Data’s and Xcitek’s respective customers.

The testing of the available ISO 15022 event types – which cover thousands of events – via the XSP interface was undertaken by FT Interactive Data and Xcitek throughout January 2006 prior to the latest release of FT Interactive Data’s ISO 15022 service. A significant benefit of this approach is that the time a client spends on testing FT Interactive Data’s inbound feed – when the combination of data and software are installed at a customer site – should be reduced.

FT Interactive Data, a provider of corporate action event data for over 30 years, has a wealth of experience in gathering, updating, validating and delivering corporate actions data to financial institutions. Its comprehensive corporate action information available in ISO 15022 format includes rights issues, bonus issues, mergers and acquisitions, and redemptions. FT Interactive Data made available the first release of its ISO 15022 based corporate actions service in the summer of 2004. Today, its current release covers the majority of the 67 event types that deal with corporate actions content. Upon initial release, this service was available for FTP over the internet; in September 2005, FT Interactive Data announced that its service is now also available via SWIFTNet.

Awarded the SWIFTReady Corporate Actions Label, XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks; rules-based scrubbing tools; a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP delivers the functionality to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

Nat Sey, FT Interactive Data Europe’s manager of infrastructure and delivery, said: “We have been working with Xcitek for the past couple of years to smooth out the implementation of the various releases of our ISO 15022 corporate actions service. Over the past few months, we have tested many new aspects of this latest release, which was particularly comprehensive. As a result, I would expect to see significantly reduced implementation cycles at customer sites and am confident that this should provide added value for the customer.”

Adrian Gray, Xcitek’s senior business analyst for Europe, commented: “During testing of the FT Interactive Data vendor feed, we were pleased to see that the principles set out by the Market Data Provider User Group were adhered to. We successfully mapped and processed the received data into XSP without any modifications or enhancements required by either party.”

Neil Sheppard, Xcitek’s chief operating officer of XSP Europe, added: “The benefits of automating corporate actions processing with Xcitek’s XSP solution are further enhanced by our latest offering of FT Interactive Data’s vendor feed in the ISO 15022 format. We have a long-standing relationship with FT Interactive Data and look forward to continue working closely with them to implement our complementary services at global client sites.”

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Evergreen Investments Live with Xcitek's XSP(tm) Corporate Actions System

Mon, 27 Feb 2006 00:00:00 CST

New York, NY, February 27, 2006 – Xcitek, a global provider of market data, Corporate Actions software and staffing solutions, announced that Evergreen Investments is in live production with the XSP™ software solution for Corporate Actions processing.

Evergreen selected XSP after an extensive review and evaluation of solutions available from Corporate Actions system providers.

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. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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.

Marcus Spero, Vice President of Investment Services at Evergreen said, “The implementation of XSP at Evergreen provides us with a tool that enhances operational efficiency and control for our current Corporate Actions process. During our extensive analysis of Corporate Actions software providers, we found XSP to offer a robust and flexible solution that fits our processing workflow.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, “Having a prominent organization like Evergreen Investments in live production with XSP is a significant win for Xcitek. By leveraging XSP’s Corporate Actions processing expertise to manage risk and reduce costs, Evergreen reaps the benefits from its robust data management tools, ISO messaging and optimal workflow functionality to promote greater levels of straight-through processing (STP). We look forward to continue working with Evergreen to provide quality solutions and services for their Corporate Actions operations.”

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Xcitek's XSP(tm) Wins SWIFTReady Corporate Actions Label

Tue, 21 Feb 2006 00:00:00 CST

London, UK, 21 February 2006 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that it has won the 2006 SWIFTReady Corporate Actions Label for XSP™, the most widely-implemented Corporate Actions system in the world.

The SWIFTReady Corporate Actions Label is awarded to applications that adhere to a strict set of criteria linked to the support of SWIFT messages and functionality for an area of securities processing that has long been considered one of the most challenging and high risk operations for financial institutions. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s requirements.

XSP is an ISO 15022 compliant solution featuring comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules-based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP also offers the functionality to manage client event notifications and election responses through both its ISO module and web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

Commenting on the accreditation, Edward de Courcy-Ireland, Product Manager at SWIFT, said, “We are pleased to award Xcitek with the SWIFTReady Corporate Actions Label for their flagship software solution, XSP. This achievement demonstrates Xcitek’s ongoing contribution to the industry of developing solutions that conform to SWIFT standards as well as the best practices set by the Securities Market Practice Group (SMPG), improving Corporate Actions processing efficiency for the benefit of financial institutions worldwide.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “Xcitek remains at the forefront of delivering reliable and proven solutions to meet the ever-changing demands of financial institutions around the globe. In addition to our ongoing efforts of enhancing the technology behind the XSP software, our support of SWIFT’s ISO message formats and functionality standards allows our clients to attain the greatest levels of straight-through processing (STP). This accreditation validates our strong commitment to mitigating the risks and costs associated with Corporate Actions processing.”

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Matt Digby Joins Xcitek as Senior Business Analyst for XSP(tm) in Europe

Mon, 06 Feb 2006 00:00:00 CST

London, UK, 6 February 2006 - Xcitek, the leading global provider of market data, Corporate Actions software and staffing solutions, announced today that Matt Digby has joined the company as Senior Business Analyst for its flagship software solution, XSP™. His responsibilities will include business requirements gathering, product development, product demonstrations, client training and involvement with market-driven initiatives. Based in London, Digby will also support implementations for XSP’s growing client base in Europe.

Digby brings 18 years of experience in the financial markets. Most recently, Digby was Head of Asset Servicing at Mizuho International plc, where he was responsible for managing its Income and Corporate Actions operations for the custody and broker/dealer businesses. An active participant in market practice groups, Digby’s prior roles were front and back-office positions at various financial institutions including IBJ International plc, Banque Nationale de Paris, Banque Paribas and Bank of America NT&SA.

Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, said, “Matt comes to us with a wealth of business and industry knowledge, specifically in the area of Corporate Actions. His first-hand experience will contribute significantly to understanding our clients’ needs and delivering solutions that maximise operational efficiencies in the processing of Corporate Actions. Combined with the great team we already have in place, Matt’s appointment signals the continuing global growth of XSP as well as our commitment to enhancing our clients’ experience, particularly during a time when we are seeing an increasing demand for proven Corporate Actions processing solutions.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, “Xcitek is expanding rapidly on a global scale. Our investment in people and technology demonstrates our ongoing efforts to provide our clients with the highest level of service and the best quality of product. Matt will further add to the knowledge and expertise of the XSP European team as we move forward in aggressively growing our client base. We welcome Matt to our organisation and look forward to his contributions.”

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Xcitek Teams Up with Reuters Datascope to Deliver SWIFT ISO15022 Corporate Actions Data via XSP(tm)

Mon, 30 Jan 2006 00:00:00 CST

New York, NY, January 30, 2006 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that it has teamed up with Reuters DataScope, a leading provider of complete back office solutions for historical and reference data, to deliver SWIFT ISO15022 Corporate Actions via XSP™.

Recently awarded the SWIFTReady Corporate Actions Label, XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks; rules-based scrubbing tools; a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP delivers the functionality to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “XSP clients now have access to Reuters DataScope’s comprehensive ISO15022 standard Corporate Actions data. This enhances our extensive offering of distinct data sources available via our robust solution to meet the needs of each individual client. This alliance gives clients further scope to improve straight-through processing (STP) and conforms to the best practices defined by the Securities Market Practice Group (SMPG) for Corporate Actions processing.”

Caroline O’Shaughnessy, Head of Third Party Alliances for Reuters DataScope, said, “Reuters DataScope has made a priority of, and is making a significant ongoing investment in, Corporate Actions data, and the alliance with Xcitek further strengthens our delivery options - to both the buy and sell sides.”

Sponsored by SWIFT, ISO15022 is fast becoming the predominant messaging format for Corporate Actions worldwide. Reuters released its ISO15022 feed, which was tested and approved by SWIFT, in September; as its first step in a move to dramatically increase coverage of the Corporate Actions market. Xcitek was awarded the SWIFTReady Corporate Actions Label last month, further validating XSP as the global provider of STP solutions for the Corporate Actions processing arena.

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Xcitek Continues to Expand its European Operations to Support XSP(tm)

Mon, 30 Jan 2006 00:00:00 CST

London, UK, 30 January 2006 - Xcitek, the leading global provider of market data, Corporate Actions software and staffing solutions, announced today that it has expanded its European-based team with the addition of Paul Fullam, Vice President and Manager of Global Services, to support implementations for new European clients of its flagship software solution, XSP™.

Fullam, who joined Xcitek in 2000, will provide support services for product demonstrations, process flow workshops, implementations and training for XSP’s growing European client base. With over ten years experience, Fullam has been managing and working within securities operations, specialising in the areas of global Corporate Actions, tax reclaims, security cross-reference and pricing. He has worked with XSP clients in all segments of the financial industry including global custodian and trust banks, broker/dealers and asset managers.

Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek, said, "We are delighted to have Paul working with the London team and value the extensive experience he has gained over the last five years supporting and implementing XSP clients in the U.S. Paul has been working with the management of client implementations in Europe for quite some time now. This transition reinforces our commitment to servicing the needs of our existing clients whilst preparing for the anticipated strong growth of new clients throughout Europe. Paul’s knowledge and skills will further enhance our world-class support to our local client base and we look forward to his contributions to this important market.”

“Our clients in Europe will greatly benefit from Paul’s expertise in global Corporate Actions and his successful track record in managing the implementation of XSP into live environments,” said Frank Piraino, Senior Vice President, Client Relationship Management & Sales Operations at Xcitek. “Following another record-breaking year of securing major client wins in 2005, we continue to ensure high levels of service by deploying the necessary resources to achieve our clients’ objectives.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, "As we head into our tenth year since the launch of XSP, Xcitek continues to build and invest in all areas of our organisation – from the development of XSP with enhanced features and functionality to the expansion of our staff with dedicated and talented professionals. In addition to Paul, we have immediate plans to further expand our pool of highly-skilled employees, not only in Europe, but also in the U.S., to address the needs of our current and future clients.”

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Xcitek's XSP(tm) Awarded SWIFTReady Corporate Actions Label

Wed, 14 Dec 2005 00:00:00 CST

London, UK, 14 December 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that it has been awarded the SWIFTReady Corporate Actions Label for XSP™, the most widely-implemented Corporate Actions system in the world.

The SWIFTReady Corporate Actions Label is awarded to applications that adhere to a strict set of criteria linked to the support of SWIFT messages and functionality for an area of securities processing that has long been considered one of the most challenging and high risk operations for financial institutions. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s requirements.

XSP is an ISO15022 compliant solution featuring comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules-based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP also offers the functionality to manage client event notifications and election responses through both its ISO module and web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “Xcitek’s achievement of the SWIFTReady Corporate Actions Label is a significant milestone in the evolution and continuing development of our already-robust XSP application. For close to a decade, XSP has been providing clients with an advanced processing solution that continues to deliver immediate return on investment (ROI). This label further validates XSP as the global provider of straight-through processing (STP) solutions for the Corporate Actions processing arena.”

Edward De Courcy, Product Manager at SWIFT, commented, “We are pleased to award Xcitek with the SWIFTReady Corporate Actions Label for their flagship software solution, XSP. Xcitek has an impressive client base in the U.S. and abroad, a proven track record for implementing effective solutions, and an overall sophisticated software product that meets the stringent criteria set by SWIFT. In addition, conforming to the best process initiatives defined by the Securities Market Practice Group (SMPG) is another key advantage of the XSP software and an important decision factor for potential clients when selecting a solution. This accreditation confirms Xcitek’s market-leading status in the industry and we look forward to working with them to further reduce the risks and costs associated with the processing of Corporate Actions.”

Jonathan Montgomery, Senior Vice President, XSP Client Services at Xcitek, stated, “We are delighted to secure the SWIFTReady Corporate Actions Label. We continue to develop and enhance XSP whilst conforming to the high standards set by SWIFT. Xcitek has been a SWIFT Solutions Partner for several years and the certification of XSP with the SWIFTReady Corporate Actions Label represents our commitment to SWIFT as a valued partner and our commitment to embracing the industry initiatives that maximise operational efficiency in the processing of Corporate Actions for financial institutions.”

Neil Sheppard, Chief Operating Officer, Xcitek Europe, commented, “It is extremely rewarding to be recognised by a highly-regarded partner such as SWIFT. As more and more organizations leverage the SWIFT network and adopt the ISO15022 format as a standard, our clients can benefit from the powerful processing capabilities of XSP to achieve the highest levels of STP.”

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J.P. Morgan Securities Ltd. Goes Live with Xcitek's XSP(tm) Version 4.5

Wed, 23 Nov 2005 00:00:00 CST

London, UK, 23 November 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that Credit Suisse Asset Management (CSAM) New York, one of the asset management arms of Zurich-based Credit Suisse Group, has entered into a five-year contract with XSP™ to automate its Corporate Actions processing. As part of the license, CSAM New York will utilize eTRAN™ (Electronic Tracking Response and Notifications) and the ISO 15022-Compliant Messaging Module for the automated notification and response capture of elections.

XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks; rules-based scrubbing tools; a robust workflow management module and complete entitlement processing. Using client defined Queues and user Views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP delivers the functionality to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

After conducting an extensive due diligence process, CSAM selected XSP as the solution provider for its Corporate Actions operations in New York. CSAM is a business unit within Credit Suisse First Boston (CSFB), which has been using the XSP software since 2002 to maximize operational efficiency while minimizing risks and costs in the processing of Corporate Actions.

“CSAM is one of the world’s most well-respected and forward-thinking financial institutions servicing clients across three regions in 50 countries,” said Brendan P. Farrell, Jr., Managing Partner at Xcitek. “With XSP, CSAM New York will reap the immediate benefits of reduced operational risks and costs within each phase of the Corporate Actions lifecycle while adhering to their mission of providing their clients with enhanced service levels. We are delighted to welcome another Credit Suisse organization to our growing client base and look forward to continue to build upon our strong relationship with additional business units within the Credit Suisse Group.”

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Credit Suisse Asset Management Signs Five-Year Contract with Xcitek for XSP(tm) Corporate Actions Software

Mon, 14 Nov 2005 00:00:00 CST

New York, NY, November 14, 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that Credit Suisse Asset Management (CSAM) New York, one of the asset management arms of Zurich-based Credit Suisse Group, has entered into a five-year contract with XSP™ to automate its Corporate Actions processing. As part of the license, CSAM New York will utilize eTRAN™ (Electronic Tracking Response and Notifications) and the ISO 15022-Compliant Messaging Module for the automated notification and response capture of elections.

XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks; rules-based scrubbing tools; a robust workflow management module and complete entitlement processing. Using client defined Queues and user Views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP delivers the functionality to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

After conducting an extensive due diligence process, CSAM selected XSP as the solution provider for its Corporate Actions operations in New York. CSAM is a business unit within Credit Suisse First Boston (CSFB), which has been using the XSP software since 2002 to maximize operational efficiency while minimizing risks and costs in the processing of Corporate Actions.

“CSAM is one of the world’s most well-respected and forward-thinking financial institutions servicing clients across three regions in 50 countries,” said Brendan P. Farrell, Jr., Managing Partner at Xcitek. “With XSP, CSAM New York will reap the immediate benefits of reduced operational risks and costs within each phase of the Corporate Actions lifecycle while adhering to their mission of providing their clients with enhanced service levels. We are delighted to welcome another Credit Suisse organization to our growing client base and look forward to continue to build upon our strong relationship with additional business units within the Credit Suisse Group.”

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Xcitek Working with London Stock Exchange to Deliver Corporate Actions in SWIFT ISO 15022 Format via XSP(tm)

Mon, 07 Nov 2005 00:00:00 CST

London, UK, 7 November 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that it is working with the London Stock Exchange to take delivery and process its Corporate Actions data in the SWIFT ISO 15022 format in its flagship product, XSP™. XSP further enhances its offering by supplying the Exchange’s Corporate Actions and Dividend data in this standard messaging format to promote greater straight-through processing (STP) whilst reducing operational costs and risks.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful 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.

In August 2004, the Exchange began distributing its Corporate Actions and Dividend data in the ISO 15022 format in near real-time over the SWIFT network. The service eliminates the need to re-key data into internal systems and reduces processing time delays. Furthermore, the service helps to meet the industry's demand for a move towards Corporate Actions standardisation and STP.

Brendan P. Farrell, Jr., Managing Partner of Xcitek, said, “XSP is working closely with the Exchange to offer Corporate Actions and Dividend data in the SWIFT ISO 15022 format. As more and more market participants embrace the ISO 15022 format as the industry standard, both Xcitek and the Exchange deliver cost-effective and robust solutions to meet the demands of the global marketplace. Through this relationship, we continue to extend our reach and strengthen our presence in the European market whilst our clients gain access to a highly-regarded source of Corporate Actions data.”

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Xcitek Continues to Expand in Europe to Accommodate Growth of XSP(tm) Corporate Actions Solution

Mon, 29 Aug 2005 00:00:00 CST

London, UK, 29 August 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that it will move its London office to larger space in the City to accommodate the growing staff and client base for its XSP™ Corporate Actions automation solution. The official move from its Cornhill office to the new premises at No. 1 Poultry will take place Monday, 5 September 2005.

The new office will continue to be headed by Neil Sheppard, Chief Operating Officer for XSP Europe, who joined Xcitek in early July to run day-to-day operations and manage client relationships in support of XSP’s European growth strategy.

“In response to the growth of XSP and the ongoing need for proven Corporate Actions automation solutions in the European marketplace, we needed to move our London sales and client support teams into larger facilities,” commented Sheppard. “The new offices at No. 1 Poultry accommodate our current requirements while allowing for planned future expansions to our staff. We selected this new location because it lies in the heart of London’s financial district and is central to our existing and prospective clients for local support.”

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “Since our initial foray into the European marketplace in 2002, we continue to make great traction in the growth of our client base while expanding our staff to support this business with talented and experienced professionals. At this juncture, with over 50 global clients licensing the XSP software, we recognised the need to increase the office space in London to not only accommodate the new employees who have joined our organisation over the last few months, but to facilitate additional growth in the near future. We are very excited about making the move to this larger space as it further represents our commitment to growing our business globally while continuing to provide our clients with first class support.”

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Mizuho International plc Live with Xcitek's XSP(tm) Corporate Actions Automation Solution

Mon, 22 Aug 2005 00:00:00 CST

London, UK, 22 August 2005 - Xcitek, the leading global provider of Market Data, Corporate Actions Software, and Staffing solutions, announced today that Mizuho International plc, the London-based securities and investment banking arm of the world's largest banking group, the Mizuho Financial Group, is live with the XSP™ software solution for Corporate Actions processing.

XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP also offers the ability to manage client event notifications and election responses through both its ISO module and its web-based component, eTRAN™. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.

John W. Sweeney, Executive Director of Securities Services at Mizuho International plc commented, “After a detailed evaluation process of Corporate Action system providers which involved reference site visits and scoring of their core functionality we selected the Xcitek solution. XSP gives us end-to-end automation in our asset servicing area and enables us to offer a strong and competitive custody service to our clients whilst reducing operational risk. We look forward to strengthening our existing relationship with Xcitek and benefiting from their proven development and support services.”

Brendan P. Farrell, Jr., Managing Partner of Xcitek said, “With the increasing volume and complexity of global Corporate Actions, a world-leading organisation like Mizuho International requires a robust Corporate Actions processing solution to maximise operational efficiency whilst delivering optimal service to their clients. The advanced multi-market processing capabilities of XSP facilitate true global straight-through processing (STP) for Mizuho’s custody businesses. The success of this latest live implementation in Europe further validates Xcitek’s position as the worldwide leader in providing production ready solutions for Corporate Actions automation. Mizuho Trust & Banking Co. (USA) has been in production with XSP in its New York offices since 1999 and we look forward to continuing to provide the Mizuho organisation with our quality service and support.”

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Xcitek Delivers CDS INC. SWIFT ISO 15022 Canadian Corporate Actions and Other Entitlements Data via XSP(tm)

Mon, 08 Aug 2005 00:00:00 CST

New York, NY, August 8, 2005 – Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, and CDS INC., a premier supplier of Canadian equity and debt entitlements information, announced today that XSP™ is now interfaced to CDS INC.’s SWIFT ISO 15022 entitlements data for the automated processing of Corporate Actions and other entitlements. This further demonstrates the ongoing industry efforts to embrace the ISO 15022 message standard to promote greater straight-through processing (STP) and the adoption of this standard by both CDS and Xcitek.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

In June 2005, CDS issued ISO 15022 standards for Corporate Actions and entitlements messaging guidelines for the Canadian securities market. CDS’s new Entitlement Messaging service gives subscribers accurate and timely entitlement (including Corporate Action) information in field-based form over the SWIFT network (in ISO MT564 format) and over CDS's proprietary network. The new service complements other entitlement-related services available through CDS and CDS INC. such as CDS Bulletins, CDSX Entitlements Data Feed, CDSX Online and SEDAR-SCRIBE, which provides a real-time feed of public filings in the System for Electronic Document Analysis and Retrieval, EDGAR’s Canadian equivalent.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, "Teaming with CDS INC. further enhances our offering by combining the strengths of CDS’s unequalled Canadian data with XSP’s robust and feature-rich technology to deliver solutions that are consistent with global efforts to improve STP for Corporate Actions processing. With the increasing adoption of SWIFT ISO 15022 by financial institutions, both Xcitek and CDS INC. recognize the industry’s initiative to promote a standardized messaging format that leads to reduced costs and risks. We look forward to working with CDS INC. to successfully bring Canadian data to the global market."
Barbara Amsden, CDS Assistant Vice-President of Product Management, said: “Key to addressing the complexities and timing challenges of entitlement processing, CDS INC.’s Entitlement Messaging provides easy-to-process information to securities market participants anywhere in the world. We designed CDS INC.’s Entitlement Messaging to meet ISO 15022 standards. This makes it an ideal feed for XSP, which utilizes its powerful data scrubbing engine to compare CDS INC.’s top-quality data with any other sources, expediting identification of possible discrepancies and corrections, and lowering costs and risk for firms and the marketplace.”

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BB&T Goes Live with Xcitek's XSP(tm) Corporate Actions Automation Solution

Mon, 25 Jul 2005 00:00:00 CST

New York, NY, July 25, 2005 – Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today that Branch Banking & Trust Co. (BB&T), the ninth largest financial holding company in the United States, headquartered in Winston-Salem, NC has gone live with the XSP™ software solution for Corporate Actions processing. In addition to XSP, Xcitek is also providing BB&T with its award-winning corporate action data.

XSP features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

Brendan P. Farrell, Jr., Managing Partner of Xcitek, said, “BB&T has taken a major step forward in achieving STP. With XSP now live in production, BB&T is realizing the immediate benefits that automation brings to its daily operations. Specifically, automating the client notification and response component of the bank’s Corporate Actions processing will lead to significantly improved operational efficiency, eliminating the high level of manual efforts that were required prior to the implementation of XSP, while reducing risk exposure to the organization.”

Speaking on behalf of the Xcitek Corporate Actions data license, Charles W. Price, Senior Vice President, commented, “BB&T recognizes that timely and comprehensive data is the first link in the Corporate Actions STP chain. Xcitek is pleased to provide BB&T with better data coverage to set the foundation for a successful automated Corporate Actions process.”

“The success of this project is the result of the hardworking efforts and collaboration between the excellent BB&T and XSP teams and we look forward to similar announcements in the near future,” continued Farrell.

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Xcitek Appoints Neil Sheppard as Chief Operating Officer for XSP Europe

Mon, 11 Jul 2005 00:00:00 CST

London, UK, 11 July 2005 - Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, announced today the appointment of Neil Sheppard as Chief Operating Officer with responsibility for managing the company's flagship Corporate Actions software solution, XSP™ in Europe. In this newly-created role, Sheppard will be responsible for running day-to-day operations and client relationships in support of XSP's European growth strategy.

Sheppard brings over twenty years of experience in securities processing management, with specific expertise in Corporate Actions. Prior to joining Xcitek, he was Product & Business Development Director at Magenta One Ltd., where he was responsible for developing its Securities Class Actions business – focusing on the company's operational infrastructure, product development, and sales & marketing efforts. Preceding his stint at Magenta One, Sheppard held project management roles at Union Bank of Switzerland (UBS) within its Wealth Management and Global Asset Management groups. One of his responsibilities was managing the requirements for the implementation of an STP processing solution for Corporate Actions incorporating all aspects of this process, from initial announcement capture through settlement. Prior to UBS, Sheppard was Vice President at Morgan Stanley responsible for representing Position Services for Global Corporate Actions Renovation within the Investment Bank and Prime Brokerage areas. Sheppard also managed global Corporate Actions operations at Dresdner Kleinwort Wasserstein, ABN AMRO Equities (UK) Ltd, and Citibank.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, says, “As we respond to the continuing uptake of XSP across Europe, we feel that it is the right time to further strengthen our already successful sales and client service team with a proven senior operations manager to support our growing business. This new position will leverage Neil's solid track record and wealth of experience, insight, and industry knowledge in the financial services arena, especially in the areas of global Corporate Actions automation and Class Actions solutions. Neil will play a key role in managing and growing the Xcitek business in Europe. The creation of this new position further demonstrates Xcitek's total commitment to addressing our European clients' business needs with the world-class technology of XSP, fully supported locally by the most talented professionals in our industry. We are delighted to welcome an executive of Neil's calibre to our team."

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Nomura Securities International, Inc. Selects Xcitek's XSP Solution for Automated Corporate Actions Processing

Mon, 27 Jun 2005 00:00:00 CST

New York, NY, June 27, 2005 - Xcitek, the leading global provider of market data, corporate actions software, and consulting and staffing services, announced today that Nomura Securities International, Inc. has licensed the XSP™ solution to automate the corporate action processing for its Equities Operation to service its clients in the U.S. and in Tokyo. As part of the license, Nomura will roll out eTRAN™ (Electronic Tracking Response and Notifications) and the ISO 15022-compliant messaging module for the automated notification and response capture of elections. The agreement also includes licensing Xcitek's award-winning corporate actions data.

XSP features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, commented, “We are delighted to have Nomura Securities International as one of our latest clients licensing our end-to-end solution for corporate actions processing. Nomura represents our fifth Japanese client to streamline their operations by automating this complex process to reduce cost and risk. This latest selection of XSP further strengthens Xcitek’s position as the leading solution provider in the marketplace.”

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Xcitek Enhances XSP(tm) to Support DTCC's Global Corporate Action Validation Service

Wed, 04 May 2005 00:00:00 CST

New York, NY. May 4, 2005 – Xcitek, the leading global provider of corporate actions automation, market data solutions, and operational staffing services, announced that its flagship software solution, XSP™, has enhanced its offering to support DTCC’s Global Corporate Action (GCA) Validation Service. XSP has mapped the GCA Validation feed to its latest version, XSP 4.6, offering clients access to high-quality, scrubbed corporate actions data via the industry’s leading software system for complete end-to-end corporate actions processing.

This interface marks the second time Xcitek’s XSP and DTCC’s GCA Validation Service have teamed up to promote greater straight-through processing (STP) for corporate actions. In 2003, Xcitek’s XSP Data Management component helped support the launch of the GCA Validation Service. The GCA Validation Service also uses Xcitek’s Corporate Actions Data product as a source for North American announcements.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

The GCA Validation Service gives customers access to a centralized source of “scrubbed” information about tender offers, conversions, stock splits, and nearly 100 other types of corporate actions for equities and fixed income instruments traded in Europe, Asia-Pacific and the Americas. The service delivers comprehensive and timely information, helping to reduce operational losses, optimize front-office trading and streamline operations for financial institutions worldwide. It is provided through Global Asset Solutions LLC, a DTCC subsidiary.

Brendan P. Farrell, Jr., Managing Partner at Xcitek, says, “Through the combined forces of XSP and the GCA Validation Service, we are offering the global marketplace a robust and powerful end-to-end solution to manage the day-to-day operations of corporate actions processing. Accurate, cleansed data is the first crucial step in this complex process. With this new interface, XSP clients have access to this premium data service allowing users to further maximize their operational efficiencies.”

“We have been working closely with Xcitek for a number of years now,” said James Femia, DTCC Managing Director and head of the Global Corporate Action business. “This latest initiative represents each of our own firm’s ongoing commitment to provide value-added solutions to the industry. By accessing the GCA Validation Service through XSP, XSP’s clients can eliminate the time-consuming and manual efforts associated with the corporate actions process to reduce risk and lower costs.”

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LaSalle Bank Expands Relationship with XcitekSolutionsPlus and Extends XSP(tm) License for Five More Years

Mon, 21 Mar 2005 00:00:00 CST

New York, NY, March 21, 2005 - XcitekSolutionsPlus, the leading global provider of corporate actions automation, announced today that LaSalle Bank N.A., one of the Midwest’s largest banks and owned by Netherlands-based ABN AMRO Bank N.V., is expanding its license of XSP™ to manage its asset servicing operations to achieve end-to-end automation for corporate actions processing. LaSalle Bank, an XSP user since 1999, has extended the license to a five-year agreement, which will carry through 2010. The bank has also added the ISO messaging module as well as eTRAN™ for its Web-based notifications and response capture capabilities to improve and streamline internal and external client communications.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, Web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

Susan Vonder Heide, senior vice president of Trust and Asset Management at LaSalle Bank, commented, “XSP has proven to us that it is capable of handling our high corporate actions processing volume, while improving our competitive advantage for domestic and global custodian opportunities. With the addition of the ISO messaging module and eTRAN for our notification and response capture needs, we will be able to manage more effectively costs and risks associated with the flow of information and instructions within a tight deadline. We are excited to extend this license for another five years because we are confident in XcitekSolutionsPlus’ capabilities to continue delivering cutting-edge solutions for LaSalle.”

“It is extremely rewarding to expand our relationship with one of the largest and most respected institutions in the world. This growing relationship with LaSalle Bank once again validates XcitekSolutionsPlus’ strategy of offering a sophisticated and proven solution that allows our clients to reap the benefits of automation. We look forward to working with LaSalle Bank in capitalizing on XSP in their asset servicing operations and building relationships within other business units at their global sites,” said Brendan P. Farrell, Jr., Managing Partner at XcitekSolutionsPlus.

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XcitekSolutionsPlus Hires Steve Thoma as Senior Client Administrator

Mon, 24 Jan 2005 00:00:00 CST

New York, NY, January 24, 2005 – XcitekSolutionsPlus, the leading global provider of corporate actions automation, announces the addition of Steve Thoma as Senior Client Administrator within the client services team in the Birmingham, AL office. Mr. Thoma will have responsibility for providing production support and implementation of the XSP™ software application within North America.

Mr. Thoma has 10 years experience in securities and corporate actions processing. Previously, Mr. Thoma was the Corporate Action Reorganization Manager at Fifth Third Bank, where he was responsible for all aspects of corporate actions processing. Prior to Fifth Third Bank, Mr. Thoma was a Corporate Action Specialist at Bank One Trust with various responsibilities for both mandatory and voluntary corporate actions.

“We are delighted to have Steve join our organization,” said Patrick D. Lee, Managing Partner at XcitekSolutionsPlus. “His extensive securities processing experience, particularly in the area of corporate actions, is a tremendous asset to both our company as well as our clients. The strength of our product, coupled with the expertise of our new and existing staff, puts us in a great position to address the needs of the corporate actions marketplace.”

As a result of the industry’s ongoing need for corporate actions solutions and the growing demand for XSP globally, XcitekSolutionsPlus is further expanding all areas of its staff in sales, marketing, client services, product development, and technical support at its Birmingham, New York, and London locations.

Brendan P. Farrell, Jr., Managing Partner at XcitekSolutionsPlus, commented, “As we continue to experience rapid and steady growth, we are expanding our staff with high-caliber and talented professionals to meet the needs of our client base while further enhancing XSP. We have had a record-breaking number of new XSP sales in 2004 and anticipate another successful year for 2005.”

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Adrian Gray Joins XcitekSolutionsPlus in Europe

Mon, 25 Oct 2004 00:00:00 CST

London, UK, 25 October 2004 – XcitekSolutionsPlus, the leading global provider of corporate actions automation, announces the addition of Adrian Gray as Senior Client Administrator to the client services team in the London office. Mr. Gray will have responsibility for providing client production support and managing implementations of the XSP™ software at client sites in Europe.

With over 13 years of corporate actions expertise, Mr. Gray brings a wealth of market knowledge and SWIFT ISO 15022 experience to his new role. Previously, Mr. Gray was Senior Business Consultant for Corporate Actions at SmartStream Technologies Ltd., where he was responsible for conducting business cases, building GAP analysis, and developing close relationships with clients and market data vendors. He was also an active participant in various industry initiatives such as the Market Data Vendor Working Group and Software Vendor Working Group driven by SWIFT and RDUG. Prior to SmartStream, Mr. Gray was Global Head of Content for Corporate Actions Data at Reuters (UK) Ltd and Global Product Manager for Bridge Corporate Actions Service (BCA) at Bridge Information Systems. He also held various industry roles at Telesphere Global Services, Thomson Financial Services, Citymax, and Telekurs (UK) Ltd.

Brendan P. Farrell, Jr., Managing Partner at XcitekSolutionsPlus, commented, “Adrian’s deep market knowledge of corporate actions, long-term client relationships, and experience working with industry utilities on the ISO 15022 standard will be a valuable asset to XcitekSolutionsPlus. Europe is a growing market for us and we have witnessed a substantial increase in demand for XSP in this arena over the last 12 months. The addition of Adrian to our client services team in London will ensure that our European client base receive the high level of service that all XSP clients have come to expect from XcitekSolutionsPlus.”

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BB&T Selects XcitekSolutionsPlus for Corporate Actions Automation

Mon, 18 Oct 2004 00:00:00 CST

New York, NY, October 18, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Branch Banking & Trust Co. (BB&T), a financial services organization headquartered in Winston-Salem, NC has licensed the XSP™ software solution for corporate actions processing. The agreement also includes licensing Xcitek’s award-winning corporate actions and cost basis data.

XSP features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its powerful rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes 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 through 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.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “This agreement represents another significant win for us in the banking sector of the industry. BB&T is a SunGard AddVantage user and is now the third XSP client to interface to this accounting system. We have seen a high level of interest in all segments of the industry looking to automate corporate actions and move closer to straight-through processing (STP). The strengths within our organization – such as our dedicated staff, robust software product, extensive expertise and impressive client base – position us as the dominant player in the marketplace to give us the competitive edge in winning new clients.”

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Telekurs and XcitekSolutionsPlus Testing ISO 15022 Corporate Actions Data Ahead of Sibos 2004

Mon, 11 Oct 2004 00:00:00 CST

STAMFORD, Conn. – Oct. 11, 2004 – Telekurs (USA) Inc. and XcitekSolutionsPlus are pleased to announce the expansion of their five-year relationship through the integration of the Telekurs Valordata feed (VDF). The ISO 15022 format of this global corporate actions data feed will be featured at the Sibos 2004 conference in Atlanta, GA from October 11-15.

XSP™, the XcitekSolutionsPlus software solution for corporate actions processing, captures and sanitizes Telekurs corporate actions data to initiate the downstream process. Through XSP’s robust workflow tools, tasks are automatically routed to designated parties to handle the required action associated with the corporate event.

This initiative confirms the increased market activity and continued interest in the realization of straight through processing that is enhanced by the utilization of the ISO 15022 standard.

Barry Raskin, president of Telekurs (USA), said: “This testing reflects our commitment to the ISO 15022 standard. Telekurs is an early adopter via SWIFT and is actively promoting standardization for corporate actions and reference data. Our existing relationship with XcitekSolutionsPlus offers a reliable, fully automated method of processing corporate actions data as defined by ISO 15022.”

Telekurs, a global provider of streaming and back office market data solutions, recently began direct sale and distribution of its Valordata FeedTM (VDF) to financial institutions in the Americas. VDF is regarded as an especially rich source of domestic and international securities master data and corporate actions information, providing information and valuation prices for more than 2 million financial instruments. Telekurs VDF data is sourced and analyzed at the company’s data centers in 14 countries to provide unrivaled depth and coverage of global markets.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus said: “Telekurs delivers its data fully structured, encoded and ISO 15022 compliant and XSP offers unparalleled corporate actions processing functionality. XcitekSolutionsPlus continues to partner with global leaders in the corporate actions arena to offer the industry’s most robust corporate actions solutions.”

XSP was recently awarded the Gold Label Accreditation in the CityCompass B.I.S.S. Corporate Actions Systems & Information Services benchmarking analysis in all industry sectors. This ISO 15022 compliant solution features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. XSP also offers the ability to track event notifications through 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.

Both firms will be represented at Sibos 2004 in Atlanta. Visit Telekurs at stand K201 and XcitekSolutionsPlus at stand A013 to learn more about this dynamic offering.

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Polygon Chooses XcitekSolutionsPlus for Corporate Actions Automation

Mon, 11 Oct 2004 00:00:00 CST

London, UK, 11 October 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Polygon (Polygon Investment Partners LLP and Polygon Investment Partners LP), a global hedge fund advisor headquartered in London, has licensed the XSP™ software system for corporate actions processing. This agreement represents the third hedge fund to license XSP and the first in Europe. Polygon utilises Beauchamp Financial Technology’s (BFT) FundManager, a portfolio management solution, and will interface it with XSP to streamline Polygon’s corporate actions process for optimal operational efficiency across its London and New York offices.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful 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 through 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.

Manuel Guerrero, Head of Operations at Polygon, commented, “We evaluated the corporate actions software providers in the marketplace and found XcitekSolutionsPlus to be the vendor of choice for several reasons. Besides XSP’s rich functionality and outstanding product features, XcitekSolutionsPlus has the proven track record of being able to implement and deliver a corporate actions system, an extensive knowledge of the business, and the experience working with back-office accounting systems for greater straight-through processing (STP). For Polygon, their willingness to collaborate on interfacing XSP with Beauchamp’s FundManager was another critical key in our decision.”

Clare Flynn, President of Beauchamp Financial Technology, says, “We look forward to working alongside XcitekSolutionsPlus to deliver enhanced operational efficiency at Polygon. Polygon is a client that understands the competitive advantage created by employing the right technology throughout the various processes of investment management.”
Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “The addition of Polygon Investment Partners to our client base is a tremendous win for XcitekSolutionsPlus. In the last 12-18 months, we have seen great interest in the alternative investment management community. Polygon is XSP’s third hedge fund client and the first to be based outside of the U.S. The combined benefits of XSP interfacing with Beauchamp’s FundManager will provide Polygon with the sophisticated tools to help manage their investment strategies and minimise risk.”

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XcitekSolutionsPlus Participates in Sibos 2004

Mon, 04 Oct 2004 00:00:00 CST

New York, NY, October 4, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today its participation at Sibos, the major annual event organized by SWIFT, at the Georgia World Congress Center in Atlanta, beginning next week from Monday, October 11 to Friday, October 15, 2004. Delegates can visit XcitekSolutionsPlus at Stand A013 to hear the latest news and announcements on XSP™, the industry’s most widely-implemented corporate actions solution.

In addition to exhibiting at Sibos, Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, will be taking part as a speaker on the panel session, “Automation of asset servicing – a dream or reality?”. The session, scheduled for Tuesday, October 12 from 2:00-3:30pm, examines the risks and costs surrounding asset servicing – particularly in the area of corporate actions. Speakers on the panel will also explore the significant initiatives that have gone towards the automation of trading and settlement in the past few years, how far we have come in this space, and what remains to be done. The session will also cover discussions on the existing and future initiatives governing corporate actions, proxy voting, data distribution, and other securities reporting activities.

Mr. Farrell says, “One of the areas that seems to cause the most concern for asset servicing firms of all sizes and on all sides of the equation is the whole area of data management as it relates to reference data and corporate actions. Much of the impetus for this concern comes from such industry initiatives as Basel II, Sarbanes Oxley, Patriot Act and others. Now more than ever, it is imperative that firms have a keen awareness of what is happening – not only in their immediate operations, but also with their clients. As an automated data management tool, XSP facilitates clients having a true picture of all their potential corporate actions related risks.”

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful 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 through 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.

“Sibos is one of the world's premier financial services events that brings together the top names and companies in the industry. This well-established forum addresses the major issues and topics facing our industry while offering excellent networking opportunities for service providers to present solutions and showcase their expertise,” continued Mr. Farrell.

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XcitekSolutionsPlus and Odyssey Asset Management Systems Form Strategic Alliance to Provide Global Corporate Actions Processing Solutions

Mon, 27 Sep 2004 00:00:00 CST

London, UK, 27 September, 2004 – XcitekSolutionsPlus and Odyssey Asset Management Systems, the leading providers of corporate actions automation and investment management systems respectively, today announced a strategic alliance to offer automated corporate actions processing solutions to users of Odyssey’s Triple’A Portfolio Management and Nexus Data Warehouse solutions. Through this alliance, XSP™ will interface with Triple’A and Nexus to streamline the corporate actions process for the private banking and investment management industry sectors.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful 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 through 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.

Triple'A is an integrated, enterprise-wide portfolio management system that enables the set-up of modern, centralised and structured portfolio management operations. Functions offered by the system include: portfolio modelling, trade/order management, performance monitoring, comprehensive reporting and risk management functions. With its functional breadth, wide instrument coverage, client/server architecture and powerful toolbox, Triple'A is an ideal mission-critical solution. Nexus is an enterprise-wide Market and Reference Data Management solution that centralises the data collection, cleaning, storage, administration and distribution of common, and often duplicated data that support financial operations. Nexus delivers reduced risk and improved quality through its efficient processes, and saves on costs by optimising the data administration process.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “Partnering with a market leader like Odyssey is a great endorsement for XcitekSolutionsPlus. It demonstrates our continued commitment to align with world-class vendor partners to offer integrated solutions that promote greater straight-through processing (STP). With the record-breaking number of XSP licences that we have contracted this year already, Odyssey’s dominating position in Europe will help us to further penetrate this market.”

Antoine Duchateau, CEO and Founder of Odyssey Asset Management Systems, says, “The topic of corporate actions technology continues to be an area of great demand and importance amongst the investment management community. With XcitekSolutionsPlus as our strategic partner, we can leverage the combined strengths of XSP and the Triple’A and Nexus products to existing and new clients for a complete solution that meets their evolving requirements. XcitekSolutionsPlus’ expertise and market-leading position in the corporate actions space were key factors in our decision to form this partnership.”

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XcitekSolutionsPlus Awarded B.I.S.S. Corporate Actions Gold Label Accreditation in All Industry Sectors

Thu, 09 Sep 2004 00:00:00 CST

London UK, 9 September 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, is pleased to announce that its flagship software solution, XSP™, has been accredited with the Gold Label in all three industry sectors – Asset Management, Broker/Dealers, and Custodians. Organised by CityCompass, an independent facilitator of contemporary issues in financial services, the results of the B.I.S.S. (Benchmarking of International Systems and Services) Corporate Actions Systems & Information Services analysis revealed XcitekSolutionsPlus taking top honours based on various Business Requirements, Technical Functionality, and System Maturity standards set by the eight-member panel of corporate actions experts and Bloor Research.

XSP is SWIFT ISO 15022 compliant and features comprehensive data scrubbing tools, robust workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilising its powerful 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 through 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.

Andrew Chilcott, Analyst at Bloor Research, says, “It is no wonder that XcitekSolutionsPlus led the pack in this benchmark as they have unrivalled knowledge and history in the data business and produced a standard that the rest must follow.”

Gary Wright, Managing Director of CityCompass and creator of the benchmarking, says, “This year’s results from XcitekSolutionsPlus follow on from last year’s strong showing and underline that their system is the best all-round system for corporate actions in all sectors. We are pleased that they have achieved the new Gold label status that proves to the buyers that their system functionality has been proved by both the CityCompass industry user panel and an independent analyst.”
Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “This benchmarking exercise was a unique opportunity for all vendors claiming to have a corporate actions solution to put their system to the test and answer the tough questions voiced by industry experts, peers, and clients. We have always been confident of our solution and currently have over 45 client implementations to support it. Benchmarking corporate actions systems is a huge undertaking and thus requires careful scrutiny when performing independent vendor reviews to ensure valid and accurate assessments of each system. We look forward to others taking on this challenge of trying to benchmark corporate actions systems.”

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Nicholas-Applegate Licenses XSP(tm) from XcitekSolutionsPlus for Corporate Actions Automation

Mon, 12 Jul 2004 00:00:00 CST

New York, NY, July 12, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Nicholas-Applegate Capital Management has licensed the XSP™ software solution for corporate actions processing. In addition to leveraging its SWIFT messaging functionality and eTRAN™ (Electronic Tracking Response and Notifications) for notification and response capture, Nicholas-Applegate has also licensed Xcitek’s award-winning corporate actions data.

XSP can substantially reduce the risk associated with processing corporate actions through complete automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP allows the user to manage the corporate actions process and monitor exceptions. eTRAN enables end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.

“Nicholas-Applegate was in search of a corporate actions system to mitigate risk while maximizing operational efficiency. After evaluating the software vendors in the marketplace, we found that XcitekSolutionsPlus offered the most robust and flexible solution at a reasonable cost. They have an impressive client list from diverse market segments – varying from small growing companies to large industry leaders. We need a provider who is committed to the corporate actions business and around for the long haul – which is why we made the decision to sign with XcitekSolutionsPlus, says Christopher P. Siriani, Director of Operations at Nicholas-Applegate Capital Management.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We are delighted to welcome Nicholas-Applegate Capital Management to our growing client base. They represent the third investment manager to sign with us this year. Besides offering a sophisticated and proven solution, our expertise in corporate actions and our dedicated staff of seasoned professionals represent the differentiating factors which separate us from the other software providers. For these reasons, we hold the competitive advantage, which helps us to attract new clientele.”

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ADP Brokerage Launches New Automated Corporate Actions Solution

Mon, 07 Jun 2004 00:00:00 CST

New York, NY – June 7, 2004 – ADP Brokerage Services Group (ADP), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today the launch of its new corporate actions system. This system is fully integrated with ADP’s Brokerage Processing Services (BPS) securities processing system to streamline the back-office operation.

This new browser-based corporate actions system, built in partnership with the XcitekSolutionsPlus XSP™ application, maximizes operational efficiency through the use of a rules-based, data-scrubbing engine with built-in exception handling functionality. The scrubbing engine receives announcement files from multiple vendors and automatically compares them, identifies and validates exceptions and publishes announcements to BPS.

On the new graphical user interface, exceptions are automatically allocated to and prioritized for the individual user, and managers will receive an overall view of exceptions and their statuses, with tools to manage the STP workflow.

Since the XSP system is integrated with BPS, all data required for corporate actions processing is held and maintained on the BPS engine, which updates the corporate actions system in real-time.

This system enables financial consultants to enter shareholder elections on voluntary reorganizations using the browser-based branch access system. Sales personnel are able to see all shareholder accounts that hold the position as well as summaries of those that have and have not made elections. The salesperson also has inquiry access to the mandatory reorgs that affect their accounts. The elections entered in branch access are posted directly to BPS for booking.

The corporate actions system is also integrated with ADP’s Investor Communication Services (ICS) to streamline mailings to shareholders with securities involved in voluntary corporate actions. These mailings can be either hard copy or electronic depending upon the desire of the shareholder. Mailings in both media provide a web link through which the shareholder can easily make their own elections. Brokers have the option of posting customer-made elections directly into the back office or into a queue for internal review and approval.
Speaking about the announcement of the new corporate actions system, Marianne Brown, Senior Vice President and General Manager of ADP’s Brokerage Processing Services comments, “The production launch of this system represents another important step forward in ADP’s overall strategy to provide complete STP capabilities to our clients in all areas of brokerage processing. With the addition of these new products to ADP's overall product suite, the STP functionality that we provide to clients in the arena of corporate actions processing has advanced tremendously.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “We are extremely pleased that ADP chose XSP as part of its business strategy to facilitate STP among its brokerage group for corporate actions processing. As an industry leader, ADP demands superior performance from a stable and committed provider to efficiently run and support its operations 24/7. XcitekSolutionsPlus has the expertise and resources to deliver a robust solution to maximize ADP’s operational efficiency.”

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COR and XcitekSolutionsPlus join forces to offer total STP and business process management solution.

Thu, 27 May 2004 00:00:00 CST

LONDON, 27 May 2004: COR STP Solutions, a division of COR Financial Solutions, and XcitekSolutionsPlus have joined forces to offer the award winning Salerio e2e STP platform integrated with the market leading XSP™ corporate actions processing solutions to form the strongest and most complete global STP solution available in the market today.

Under the terms of the Agreement, both companies will work together in offering each other's solutions to their respective asset management and outsource provider customer bases worldwide and will also be jointly offering the integrated solution to new customers.

The combination of the two systems, both well known and well established
solutions in their own right, is seen as providing unrivalled benefits to customers. The integration, workflow and central exception management capabilities of Salerio e2e in combination with the highly sophisticated corporate actions processing capabilities of XSP means greater optimisation of operational efficiency and further minimisation of operational risk and thus reduced middle and back-office costs.

Salerio e2e is unique in being the only STP application available that is specifically designed for investment managers that can be implemented as a standard application. It offers a truly integrated approach to transaction process management across all instrument types, including notification, confirmation, settlement and reconciliation. Operational efficiencies are maximised through prioritised, exception-based workflows. With the integration of XSP, the process can now be extended to encompass the widest range of trade management and business process functionality.

XSP is the most widely-implemented corporate actions solution available in the market today. This robust software application manages the entire corporate actions process, leveraging its extensive workflow module, beginning with the data capture and sanitisation of vendor feeds. XSP notifies all affected account holders notification via multiple media, including email and SWIFT. XSP also facilitates corporate actions event response capture through its web-based module, eTRAN™, and entitlement processing into back-office systems, creating a complete corporate actions lifecycle.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We are delighted to form this strategic alliance with COR STP Solutions. The combined synergies of Salerio e2e and XSP offer a state-of-the-art solution to institutions moving closer to STP. Joining forces with a renowned STP leader like COR allows us to further penetrate the market with a more robust corporate actions system to meet the needs of our growing client base.”

Lee Runciman, Chief Operating Officer of COR STP Solutions said, “We are very excited about the opportunities that this joint offering presents to both parties. When we decided to join forces with a corporate actions event processing vendor, our primary objectives were to pinpoint a solution that was closely aligned to the Salerio e2e technical architecture, supported by an organisation with a close cultural fit to that of COR-STPS. With XcitekSolutionsPlus and its XSP product, we were delighted in satisfying our aims and now look forward to working closely together in the future.”

Chris Brooke, Business development Director of COR Financial Solutions, said: "this deal takes STP to another level. We took the decision last year to combine Salerio e2e with a corporate action solution rather than build our own. In XSP, we saw not only the market leader in their space, but also the most technically advanced and functionally rich corporate actions solution available today. Given COR’s significant US and European operations, their Global presence was also a key factor for us.”

About COR Financial Solutions
COR Financial Solutions is a leading global provider of business solutions to support the banking, securities and asset management operations of financial institutions, through delivering specialist software applications, systems integration and consultancy services via its four divisions:

COR Intelligent Banking Solutions offers a suite of products including portfolio accounting, and wholesale banking activity from treasury to trade finance.
COR Investment Solutions provides services for the retail investment industry.

COR Risk Solutions specialises in providing quantitative analytics, helping customers in the management of portfolio risk and the generation of optimal asset allocation strategies.

COR STP Solutions provides fully integrated STP and transaction process management solutions to the global investment management and outsourcing community.

COR Financial Solutions products are used by over 220 financial institutions worldwide.

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Mizuho International plc Selects XcitekSolutionsPlus for Corporate Actions Automation

Mon, 24 May 2004 00:00:00 CST

London, U.K., 24 May 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Mizuho International plc has selected XSP™ to automate its corporate actions processing. This deal marks the second win for XSP in the European market this year and further establishes XcitekSolutionsPlus as the global leader in corporate actions automation.

John W. Sweeney, Executive Director of Securities Services at Mizuho International plc commented, “We evaluated several corporate actions system providers in the marketplace and chose XcitekSolutionsPlus because they have a proven solution with several live sites at global locations. In addition, our counterparts in the U.S. have been long-term users of XSP. XSP’s functionality, complemented by a dedicated service team will help us to provide a more robust product offering to our clients and reduce operational risk.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “We are delighted to continue growing our relationship with Mizuho, as this contract represents our ongoing success in the European market. We have seen a rise in corporate actions automation as more and more firms begin to realise the cost savings and operational efficiencies gained through the implementation of XSP within their shops. We have spent the last several years funding our business with product enhancements, new releases, and research & development, while hiring talented professionals to oversee and manage XSP implementations. XcitekSolutionsPlus has emerged as the dominant corporate actions software provider in the marketplace and continues to grow in a stable environment as we bring on new clients in the U.S. and Europe.”

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XSP(tm) Live at Daiwa Securities America in a Record 30-Day Timeframe

Mon, 26 Apr 2004 00:00:00 CST

New York, NY, April 26, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Daiwa Securities America Inc. has gone live with the XSP™ software application to automate its corporate actions processing. The implementation, which was targeted for completion in 60 days, was fully executed into a live production environment at Daiwa within 30 days – making it the shortest implementation project by XSP thus far.

XSP can substantially reduce the risk associated with processing corporate actions through complete automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP allows the user to manage the corporate actions process and monitor exceptions.

Daiwa was in search of a solution that offered the benefits of reduced exposure while preparing for future volume increases. XSP was selected because of its leading position in the marketplace and successful implementation track record. In addition to the XSP software application, Daiwa also licensed Xcitek’s award-winning corporate action data.

Nicholas C. Rubino, Senior Vice President and Director of Operations at Daiwa Securities America Inc., commented, “We are extremely pleased with the quick implementation of XSP into a live environment in just 30 days. They have far exceeded our expectations in delivering such a robust corporate actions solution to Daiwa in a short timeframe. Their expertise in corporate actions along with the professionalism of the entire XSP staff clearly shows the strength of the company and its commitment to the business. The extraordinary joint efforts of the professionals at both firms made this accomplishment possible.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We are truly delighted with the overall implementation of this project. This is a highly significant achievement for both Daiwa Securities America and XcitekSolutionsPlus. Automating corporate actions with a solid and proven solution like XSP will help Daiwa to manage a greater volume of trades while reducing operational risk. Thanks to the hardworking teams at Daiwa and XcitekSolutionsPlus, we are able to announce the success of this latest project and look forward to similar announcements in the future.”

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XcitekSolutionsPlus Lands Pittsburgh-Based Mutual Fund Group for Corporate Actions Automation

Mon, 22 Mar 2004 00:00:00 CST

New York, NY, March 22, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that a Pittsburgh, PA-based mutual fund group has signed an agreement to license the XSP™ software application to automate its corporate actions processing. The agreement also includes licensing Xcitek’s award-winning corporate actions data; rolling out eTRAN™ (Electronic Tracking Response and Notifications) to its decision makers; and licensing the ISO 15022 messaging module for communication with its global custodians.

XSP can substantially reduce the risk associated with processing corporate actions through complete automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP allows the user to manage the corporate actions process and monitor exceptions. eTRAN enables end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We are thrilled to add another user to our client base and continue to see strong interest from both hedge funds and investment managers as they capitalize on the automation tools that banks and brokers have used for years. Once again, our proven track record of successful implementations and our commitment to focus solely on the corporate actions business allows us to deliver a solid and cutting-edge solution. XSP continues to get stronger and more robust as we work with our ever-growing client base to develop and refine the most licensed corporate action automation solution available to the global market place.”

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INVESCO Licenses XSP(tm) As Part of Global Enterprise-Wide Contract with XcitekSolutionsPlus for Corporate Actions Processing

Tue, 17 Feb 2004 00:00:00 CST

London UK, 17 February, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that INVESCO, as part of a global enterprise-wide agreement, has licensed the XSP™ software solution for its offices in Europe and Asia. INVESCO, part of one of the world’s largest independent global investment managers, currently uses XSP in many of its U.S. sister company offices to automate corporate actions processing.

Mark Heaney, Head of Global Investment Administration at INVESCO UK says, “After evaluating the leading corporate actions solution providers, we have taken the decision to implement XSP globally. This presents us with the opportunity of leveraging off our U.S. sister companies who have been using XSP for several years. It made perfect sense to leverage the existing relationship with XSP and extend the licence to our Hong Kong and London offices.”

As part of the new licence agreement, INVESCO will roll out eTRAN™ (Electronic Tracking Response and Notifications) to their fund managers and decision makers as well as ISO 15022-compliant messaging for communication of notifications and elections to their global custodians.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says: “It is especially rewarding to add this prestigious firm to our growing roster of global clients. We are delighted to continue expanding our relationship with INVESCO to provide high-quality products and services that support their day-to-day operational needs and objectives.”

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Daiwa Securities America Inc. Signs with XcitekSolutionsPlus for Corporate Actions Automation

Mon, 09 Feb 2004 00:00:00 CST

New York, NY, February 9, 2004 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Daiwa Securities America Inc. has signed an agreement to license the XSP™ software application to automate their corporate actions processing. Daiwa Securities, a Japanese-owned broker/dealer, selected XSP to reduce operational risk and gain a more efficient process in the handling of corporate actions. In addition, Daiwa has also licensed XCITEK’s award-winning corporate actions data.

XSP can substantially reduce the risk associated with processing corporate actions through complete automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP allows the user to manage the corporate actions process and monitor exceptions.

Nicholas C. Rubino, Senior Vice President Director of Operations at Daiwa Securities America, Inc., commented, “As we expand our business into new areas, it became clear that we needed to enhance our corporate action reporting processes. We are constantly upgrading and improving our IT infrastructure and decided the XSP application provides the best platform to support our strategic goals. In addition, XSP was the logical choice because they are the market leader in automating corporate actions and have a successful implementation track record.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We were very excited to end 2003 with Daiwa Securities licensing the XSP application. Daiwa is the most recent broker/dealer to maximize operational efficiency through XSP automation. We achieved tremendous success in 2003 by substantially growing our data and software client base. We anticipate 2004 being even better as more and more global financial institutions realize the powerful tools and capabilities that XSP brings to their organizations.”

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XCITEK LLC Expands Sales Force to Meet Growing Demand for Corporate Actions Data and Software Solutions

Tue, 20 Jan 2004 00:00:00 CST

New York, NY, January 20, 2004 – XCITEK LLC, the leading provider of corporate actions data and software solutions, announced today its plans to realign and expand the sales organization to meet the growing demand for its full suite of corporate actions securities processing products and services. The organizational restructure includes promotion appointments and role changes to the current group. XCITEK also plans to hire several new staff members for sales and support positions for the New York office.

As part of the realignment, Craig M. Schachter, Senior Vice President, will assume the responsibility for all global sales and strategic partnerships. One of the first changes to be implemented includes moving Richard Yosua into a newly-created role as Director of Third-Party Sales. Previously, Mr. Yosua was Director of Data Sales.

In addition, John Kehoe has joined the team as Sales Executive, covering the southern region of the U.S. Mr. Kehoe will continue to work out of the Birmingham office and will be responsible for the entire XCITEK product line. His most recent position as XSP Senior Client Administrator has made him an invaluable asset to the team in providing superior client services and project management for its flagship software solution. Mr. Schachter will further expand his staff with the addition of three new sales people for the New York office.

Brendan P. Farrell, Jr., Managing Partner of XCITEK says, “In 2003, we made significant investments in developing new product releases and initiatives, penetrating our presence in the U.K. market, and building relationships with the best-of-breed service providers and industry utilities to enhance our product offerings. We expect 2004 to be yet another exceptional year as we continue to pour financial resources into the development and enhancement of our business. Our team of talented and knowledgeable professionals has been the driving force behind such a successful year.”

The realignment will also impact the client services and marketing groups. Charles W. Price, Senior Vice President, will be responsible for overseeing the entire client service, sales support and marketing efforts for all XCITEK products. Several changes have been implemented in Mr. Price’s group for 2004 including the promotion of Mick Coffey to Director of XSP Product Support for North America. In this role, Mr. Coffey will be responsible for providing all pre– and post-sales support and product expertise for the XSP software solution, while bringing on additional personnel this year. Tom O’Brien has also been promoted to Director of Internet Products. Mr. O’Brien and his team will be responsible for the company’s web-based product offerings including quality assurance, product development, client services and technical support. Catalina Gonzalez, Director of Data Product Support, will also be expanding her department to support the growing demand for the XCITEK product lines.
Over in the London sales office, recently-promoted Nick Burgess, Director of European Operations, continues to grow his staff with the addition of Richard Bustard. He brings a wealth of sales and account management experience in back-office securities processing systems. Mr. Bustard previously worked at One-Ten as Senior Sales Executive where he successfully sold its Salerio e2e product suite to financial institutions looking to automate the post-trade process. He also gained tremendous knowledge of the corporate actions business while working at UBS.

“Expanding our sales and support teams with high-quality staff members will further strengthen and solidify our presence in the market as we embark on a new year of challenges and opportunities,” says Mr. Farrell.

Finally, the marketing department has been expanded with the addition of Ronnie Bradford. Formerly a senior administrator for the Birmingham office, Ms. Bradford has moved into a newly-created position as Marketing Executive and will report directly to Wendy Chan, Director of Marketing, assisting with marketing and communications efforts for both the data and software businesses as the company continues to aggressively grow its client base and remain the leader in the corporate actions arena. Ms. Bradford will continue to work out of the Birmingham location.

U.S. Bancorp Selects Xcitek for Corporate Actions Data and XSP(tm) for Corporate Actions Automation

Mon, 08 Dec 2003 00:00:00 CST

New York, NY, December 8, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Minneapolis-based U.S. Bancorp has signed a multi-year agreement to license XSP™ for corporate actions processing. In addition, U.S. Bancorp has also licensed eTRAN™, the web-based module for automated notifications and the capture and tracking of all responses.

Following an extensive evaluation of corporate actions solution providers, the financial services holding company with assets of $189 billion, selected XSP’s state-of-the-art solution. In conjunction with XSP, U.S. Bancorp has also licensed Xcitek’s award-winning corporate actions data.

Dale R. Smith, Executive Vice President at U.S. Bancorp, stated, “After reviewing several competitive alternatives, we selected XSP for its robust functionality and proven track record of successful implementations. We believe that XSP’s technology will enable us to enhance our service commitments, generate higher levels of organizational and operational efficiency, and continually improve our competitive position and performance. eTRAN’s web-based tracking tool undoubtedly reduces the manual efforts associated with the elections process and with such a valued partner as Xcitek providing high-quality data, we are confident with our decision to extend our relationship with Xcitek by licensing XSP."

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, says, “We are delighted to welcome yet another prominent financial leader, U.S. Bancorp, to the XSP family. As the eighth largest financial services holding company in the U.S., we find it extremely rewarding that U.S. Bancorp selected XSP based on a thorough competitive analysis, our robust functionality, and our strength in the implementation process. U.S. Bancorp’s need for a fully functioning off-the-shelf solution, allowing for a quick implementation, was a critical factor in their selection process. We are thrilled with the broadening of our long standing relationship with U.S. Bancorp.”

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Oppenheimer Selects XcitekSolutionsPlus� Automated Corporate Actions System

Mon, 17 Nov 2003 00:00:00 CST

New York, NY, November 17, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Oppenheimer & Co. Inc. (“Oppenheimer”) agreed to license its XSP™ software application to manage its corporate actions processing. In addition, Oppenheimer will license eTRAN™, the web-based module for automated notifications and the capture and tracking of all responses.

Oppenheimer, the broker/dealer arm of Oppenheimer Holdings Inc. (NYSE and TSX: OPY), conducted a feasibility study regarding the development of a corporate actions system in-house versus using a third-party provider. After a rigorous analysis, Oppenheimer chose to use a third-party and selected the XSP solution based on its proven track record and robust functionality features.

XSP can substantially reduce the risk that is associated with processing corporate actions through automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP allows the user to manage the corporate actions process and monitor exceptions.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus commented, “We are proud to welcome Oppenheimer & Co. as our latest XSP client. XcitekSolutionsPlus is dedicated to providing financial institutions with technologies that improve the products and services they offer to their clients. As one of the largest independent full-service securities firm in the U.S., Oppenheimer realizes the need for an automated solution that delivers superior results. Oppenheimer’s 1,600 financial advisors will greatly benefit from XSP’s eTRAN module in automating the distribution, collection, and tracking of corporate actions elections.”

“After reviewing our options, XSP presented a solution that we believe will satisfy our requirements,” says Robert Lowenthal, Technology Officer at Oppenheimer & Co. Inc. “They bring a vast amount of expertise and knowledge in implementing corporate actions systems and we look forward to the addition of XSP in our firm."

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UMB Bank, N.A. Upgrades XcitekSolutionsPlus� XSP(tm) Corporate Actions Software

Mon, 10 Nov 2003 00:00:00 CST

New York, NY, November 10, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that it has signed an agreement with UMB Bank, N.A. to upgrade its XSP™ software application and license the eTRAN™ module for notification and response capture of elections.

XSP clients benefit from reduced exposure, automation of manual processes, and other operational efficiencies associated with the processing of corporate actions. XSP is a proven solution utilized by over 40 clients worldwide and forms strategic partnerships with industry-leading providers to deliver superior solutions to financial institutions.

eTRAN (Electronic Tracking Response And Notifications) enables the end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.

Larry Schmidt, Senior Vice President of Trust and Custody Support Services at UMB commented, “UMB was XSP’s first beta client back when the software application was introduced. Since then, we have recognized substantial operational efficiencies and risk reduction. The XSP application has significantly enhanced our day-to-day corporate actions process and we believe that this upgrade will deliver all the functionality we require for our processing environment. We are very excited about the implementation of eTRAN because it eliminates the manual process of distributing, collecting, and tracking corporate action events, which will further reduce our operational risk and cost.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “We are very excited about expanding our relationship with UMB. This upgrade signifies the long-standing partnership between UMB and XcitekSolutionsPlus. As XSP’s very first client since 1996, we have been working closely with UMB to streamline their operations and deliver cost-effective solutions in their daily corporate actions process.”

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Credit Lyonnais Securities (USA) Inc. Contracts with XcitekSolutionsPlus and Fidelity ActionsXchange for Global Corporate Actions Processing

Mon, 27 Oct 2003 00:00:00 CST

New York, NY, October 27, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that it has reached an agreement with Credit Lyonnais Securities (USA) Inc. to provide a seamless interface to the Fidelity ActionsXchange data service. Through this interface, Credit Lyonnais will be able to automate capture as well as processing of ActionsXchange’s cleansed corporate actions data through the XSP™ application.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “We are very excited about our growing relationship with both Credit Lyonnais and Fidelity ActionsXchange. Credit Lyonnais has been an XSP client for the past two years and as a result has increased operational efficiencies throughout their corporate actions process. ActionsXchange offers our mutual clients a best-of-breed solution by combining their high quality and comprehensive scrubbed data with XSP’s state-of-the-art downstream corporate actions processing and notification engine. We are committed to working with recognized leaders such as Fidelity to meet the needs of our valued clients.”

Todd Wiltshire, Director at Credit Lyonnais says, “We have been utilizing XSP for the last two years and continue to be impressed with their quick implementation and comprehensive functionality. Through Fidelity ActionsXchange, we receive a single feed of scrubbed and cleansed corporate actions data, derived from multiple vendor sources. This allows us to leverage our existing resources to provide our clients with a better product.”

“Fidelity ActionsXchange was built with the same technology, operations, and expertise employed by Fidelity Investments to deliver the most accurate, timely, and comprehensive global corporate actions event information from a single, consolidated source” says John K. Williams, Vice President of Sales & Marketing at Fidelity ActionsXchange. “We’re delighted to welcome Credit Lyonnais to our client base and to once again partner with XSP to provide a high-quality comprehensive corporate actions processing solution.”

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XcitekSolutionsPlus and Princeton Financial® Systems Form Strategic Partnership to Provide a Global Corporate Actions Processing Solution for Investment Managers

Tue, 23 Sep 2003 00:00:00 CST

New York, NY, September 23, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, and Princeton Financial® Systems, a wholly-owned subsidiary of State Street Corporation, announced today a strategic partnership to automate corporate actions processing for Princeton’s PAM® for Securities/Mutual Funds client base. Through this alliance, XSP™ will serve as the preferred straight-through processing (STP) solution, enabling PAM users to streamline their corporate actions process and improve operational efficiency across their organizations.

Princeton's flagship PAM investment management systems provide comprehensive STP-ready functionality that can be licensed for in-house use or accessed via the Internet. PAM systems are currently used worldwide by over 370 leading investment managers, insurance companies, mutual funds, pension funds, hedge funds, endowments, banks, and corporations, which manage combined total assets over US $3 trillion.

XcitekSolutionsPlus’ robust XSP solution is ISO 15022 compliant with extensive workflow distribution and management tools that reduce the risks associated with global corporate actions processing. XSP web-based tools (eTRAN™) coupled with automated ISO messaging provide client notification and response capture tools to eliminate costly manual intervention and errors. Complete client systems integration facilitates front-to-end entitlement calculation and processing.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus, commented, “We are very excited about our alliance with Princeton Financial. As a leading global provider of investment management solutions, Princeton Financial’s selection of XSP to provide their client base with corporate actions automation further validates the benefits XSP brings to the asset management community. With XSP, PAM users will have the benefit of two industry-leading solutions to provide tremendous return on investment (ROI) in their corporate actions operations, translating to revenue generation, cost savings and efficiency gains.”

"XcitekSolutionsPlus’ strong track record in delivering high-quality solutions and superior client services combined with PAM’s robust STP capabilities offer an enhanced value to our clients,” says Scott Ferrante, Chief Operating Officer at Princeton Financial Systems. “We are continually committed to establishing partnerships with proven solutions such as XSP to help our clients streamline their entire investment process. We look forward to working with XcitekSolutionsPlus on this implementation,” continued Mr. Ferrante.

Financial institutions, which are increasingly looking to automate securities processing and achieve STP, will benefit from the combined services.

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Greenwich-Based Hedge Fund Signs with XcitekSolutionsPlus to Automate Corporate Actions Processing

Tue, 16 Sep 2003 00:00:00 CST

New York, NY, September 16, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that it has signed an agreement with a Greenwich, CT-based hedge fund to license the XSP™ software solution to automate the processing of their corporate actions. The agreement also includes licensing eTRAN™, the web-based module for notification and response capture of elections. This agreement marks the second hedge fund client signing with XcitekSolutionsPlus this year.

Although corporate actions automation solutions are primarily sought after by custodians, asset managers, and broker dealers, hedge funds are beginning to realize the benefits of automation. XSP automates the complete life cycle of corporate actions information, allowing traders to arbitrage on the underlying security as well as any related securities, such as options, derivatives and convertibles. With eTRAN’s web-based automation, hedge funds can process and act on critical data at the latest possible moment, allowing for optimal efficiencies of trading opportunities.

“We are very excited to welcome another hedge fund to our growing list of XSP clients. Typically, candidates for corporate actions automation include custodians, broker dealers, and asset managers. With our second hedge fund client signing on this year, it demonstrates the adaptability and flexibility of XSP to the wide variety of market participants,” says Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus. “This client has a very aggressive implementation schedule and we look forward to working with them to reach their goals,” continued Mr. Farrell.

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JPMorgan Securities Ltd. Continues to Realise ROI with XcitekSolutionsPlus� XSP(tm) Corporate Actions Solution

Wed, 03 Sep 2003 00:00:00 CST

London UK, 3 September 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that JPMorgan Securities Ltd. continues to realise immediate return on investment (ROI) as they go live with XSP™ in Australia. This rollout represents a significant milestone for the corporate actions automation industry as it demonstrates JPMorgan’s continuous success leveraging off of XSP’s enterprise-wide solution across three different continents from one database.

James A. Goldring, Vice President of Corporate Actions at JPMorgan Securities Ltd., says “JPMorgan has had continued success directly associated with the implementation of XSP, experiencing a high level of ROI savings. Our processing volume has increased by 204% with a less than 1% increase in overhead. As an XSP user for the past three years, we have developed a very close working relationship with XcitekSolutionsPlus and are very pleased that we have now electronically processed our corporate actions across our Hong Kong, London and Australia operations from one consolidated database. This initiative is a further demonstration of our commitment to streamline and enhance our operations with state-of-the-art technology.”

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “This implementation is a major achievement for both firms. It demonstrates how a global industry leader like JPMorgan, working closely with XcitekSolutionsPlus, managed to successfully automate this complex process. JPMorgan has been instrumental in providing us with European specifications and has been the driving force behind our launch of XSP Version 4 in Europe. The fact that they have run the XSP application across Hong Kong, London, and now Australia, all from one database, is a true testament of XSP’s high scalability and comprehensive functionality. We are extremely delighted to work with JPMorgan in achieving operational efficiency and continue to support them throughout the world, including additional locations in the U.S.”

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Marshall & Ilsley Trust Licenses XcitekSolutionsPlus� eTRAN(tm) System for Notification & Response Capture Processing

Wed, 02 Jul 2003 00:00:00 CST

New York, NY, July 2, 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today that Marshall & Ilsley Trust Company N.A. (M&I Trust) has signed an agreement to license eTRAN™, the web-based module for automated notifications and the capture and tracking of all responses.

The trust company has been utilizing XcitekSolutionsPlus’ corporate actions automation solution, XSP™, for 3 years. The addition of eTRAN will further enhance and automate M&I’s corporate actions process and move them one step closer to a straight-through processing (STP) environment.

eTRAN (Electronic Tracking Response And Notifications) is intended to enable the end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.

“Marshall & Ilsley Trust Company N.A. chose to license eTRAN to automate responses and enhance our response tracking. We anticipate that eTRAN will reduce our manual response tracking of elections received by fax and email. The eTRAN product has been well received by end users and staff actively involved in the initial implementation," commented Jill M. Moyer, Assistant Vice President of M&I Trust Company.

“We are delighted to continue building our relationship with M&I Trust. With eTRAN, M&I can offer their clients a web solution for viewing, querying, and tracking their corporate actions universe. The product greatly reduces the operational risk associated with response gathering process because it allows the decision maker to key in instructions online and automatically updates the XSP database on a real-time basis,” says Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus.

eTRAN (Electronic Tracking Response And Notifications) is intended to enable the end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.

“Marshall & Ilsley Trust Company N.A. chose to license eTRAN to automate responses and enhance our response tracking. We anticipate that eTRAN will reduce our manual response tracking of elections received by fax and email. The eTRAN product has been well received by end users and staff actively involved in the initial implementation," commented Jill M. Moyer, Assistant Vice President of M&I Trust Company.

“We are delighted to continue building our relationship with M&I Trust. With eTRAN, M&I can offer their clients a web solution for viewing, querying, and tracking their corporate actions universe. The product greatly reduces the operational risk associated with response gathering process because it allows the decision maker to key in instructions online and automatically updates the XSP database on a real-time basis,” says Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus.

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XcitekSolutionsPlus Holds Corporate Actions Seminar at ISIPS 2003 Event: May 19th

Wed, 14 May 2003 00:00:00 CST

London UK, 14 May 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced that Mr. Brendan P. Farrell, Jr., Managing Partner, will be presenting a seminar on global corporate actions processing on Monday 19th May 2003 at the International Securities Industry Practitioners Symposium (ISIPS) 2003 Event in London.

The seminar, “Corporate Actions Automation: Explore the Key Factors that Led to 40 Successful Implementations,” will cover the significance of automating corporate actions and how implementing a solution such as XcitekSolutionsPlus’ XSP™ application allows global financial institutions to achieve operational efficiencies by minimising risks, reducing costs, and realising return on investment (ROI).

“Corporate actions processing continues to be a manual intensive task with the potential of exposure and errors in the millions. Automation greatly reduces these risks. ISIPS delegates will have the opportunity to learn about these benefits while exploring a case study on one of XSP’s successful implementations,” says Mr. Farrell.

XcitekSolutionsPlus is also hosting the cocktail reception at ISIPS’ Day One Business/IT Seminar & Exhibition to announce the opening of its new London office and new range of services timed to coincide with the growing interest in the automation of corporate actions.

The ISIPS programme addresses business and technology issues facing investment companies, broker/dealer firms and custody banks, from front to back office across all financial instruments. ISIPS’ strategic focus is drawn from a number of ongoing business activities underpinned by a unique platform of integrated information services including: STP Magazine and its online news service, Wealth Services Technology Magazine and the STP Benchmarks® study.

The seminar is free to practitioners who register with STP Events via the web at www.stpinfo.com/isips or by phone on + 44 (0) 20 7375 0756.

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XcitekSolutionsPlus Expands Into European Market

Mon, 05 May 2003 00:00:00 CST

London, UK, 5 May 2003 – XcitekSolutionsPlus, the leading provider of corporate actions automation, announced today the opening of its London office to serve as a hub for its European expansion. To support the growing list of European clients, the firm has hired Nick Burgess as XSP™ Product Specialist to help provide pre- and post-sales client service and manage XSP implementations.

Burgess brings 15 years of securities processing experience from some of the world’s leading financial institutions. Most recently, Burgess was instrumental in automating the corporate actions process at JPMorgan Equities London, where the XSP product was successfully implemented. He also held IT consulting positions at Societe General Securities London, Deutsche Bank London, ING Barings London, ING Baring Securities Hong Kong and London Clearing House.

“We are very excited about our new office in London and delighted to welcome Nick aboard. His extensive expertise and knowledge of the European marketplace as well as his presence in London will further strengthen our commitment to XSP overseas clients and prospects. We are confident in his abilities and contribution to our continued success,” stated Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus.

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Xcitek Holds Corporate Actions Workshop at SIA Operations Conference

Tue, 29 Apr 2003 00:00:00 CST

New York, NY, April 29, 2003 – Xcitek, the industry leader in corporate actions data, processing solutions and consulting services, announced that Mr. Craig Schachter, Senior Vice President of Strategic Relationships, will be presenting a global corporate actions processing workshop on Thursday, May 8th at the SIA Operations Conference in Boca Raton, Florida.

The workshop will highlight XcitekSolutionsPlus, the leading provider of corporate actions automation, and XSP™, the software solution to achieve operational efficiencies. The informative session will explore the benefits of corporate actions automation, XcitekSolutionsPlus’ strategic alliances with industry leaders, and the top-tiered client support of XcitekSolutionsPlus’ experienced professionals throughout the implementation process. Mr. Schachter will also talk about why 40 of the world’s leading financial institutions chose XSP.

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, “Processing corporate actions remains to be one of the most challenging and risk adverse areas for the back office today. “The SIA Operations Conference is a great audience to showcase all our product offerings. XSP is the de-facto standard for automating corporate actions and we are very excited about sharing our success stories at this conference.”

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DTCC Launches Global Corporate Action Service

Thu, 24 Apr 2003 00:00:00 CST

New York, April 24, 2003 -The Depository Trust & Clearing Corporation (DTCC) today announced the launch of the Global Corporate Action (GCA) validation service, which will reinvent the way corporate action announcements are managed by financial institutions worldwide, helping to eliminate redundant operations and technology.

GCA gives clients access to an automated, centralized source of “scrubbed” corporate action announcement information, enabling them to streamline communications, reduce costs, lower operational risk and improve the quality of information distributed.

GCA analyzes a broad array of corporate action information, including data sourced from a wide range of commercial information providers. This eliminates the current need for each firm to perform this work itself, simplifying the entire process from the initial announcement capture through data validation. GCA applies a broad definition to corporate actions to include both straightforward mandatory events and more complex voluntary offerings.

“Our goal is to provide a seamless corporate action announcement solution, so that all financial institutions can receive the accurate and comprehensive information they need at the same time,” said Donald F. Donahue, DTCC’s chief operating officer. “With GCA, we’ll deliver better data quality and huge economies of scale to banks, broker/dealers and other financial institutions worldwide.”

This month, DTCC launched a pilot of GCA with a major global securities firm. Several other firms that are high-volume processors of corporate actions will follow shortly. Over the past year, these firms have been working closely with DTCC to define requirements for GCA, which is targeted for full production by yearend. Initially, GCA covers securities traded in the Americas and Europe, and by yearend will provide worldwide coverage.

DTCC teamed with Accenture to build this new service. Accenture provided program management support, helped to implement GCA’s underlying technology solution and is continuing to work with DTCC in enhancing the operating environment.

“Corporate action processing is an area of significant risk in the securities processing business,” said James Femia, managing director, DTCC Asset Services. “The exposure associated with an individual corporate action event potentially involves millions of dollars.”

Corporate action processing is also known to be one of the most manual, complex and challenging parts of back-office operations globally. Every day, securities firms are inundated with news of various corporate actions, such as stock splits, spin-offs, bankruptcies, calls, conversions, exchanges, mergers, tender offers and cash dividend announcements. Conflicting and incomplete information, incorrect data and late notification are common problems that can result in late payments, market risk, loss of interest, or a missed opportunity that could cause significant monetary loss.

“Our 30 years of experience in corporate action processing is well known throughout the industry,” said Donahue. “We’re now leveraging that experience to support the growing need for access to automated, standardized corporate action announcement information to lower risk and drive down cost for the industry on a global basis.”

In 2002, DTCC’s depository processed a record volume of corporate actions, including reorganizations, redemptions, dividend and interest transactions, with a value of nearly $2 trillion. Each corporate action has a multiplier effect. A single event may involve hundreds of financial firms, which then results in thousands of communications sent and/or payments allocated to investors.

“Rather than have each bank and broker/dealer maintain its own operation to collect and verify corporate action announcement information, we’ll provide the single right answer,” said Femia. “Our experience in bringing greater efficiency to high-volume processing makes this an ideal business for outsourcing to DTCC.”

GCA validates data through an intricate process of mapping, normalizing and consolidating the information – generally referred to in the industry as scrubbing – supported via XcitekSolutionsPlus’ XSP™ corporate actions data management module. GCA also enriches the data with follow-up research by experienced professionals and information from custodian banks. The custodian verification component of GCA is planned to be available later this year.

Custodian verification, according to Femia, is an important part of what will set GCA apart from other service providers in this market space. “We recognize the vital role that custodians play in the process,” he said. “We’ll act on our participants’ behalf, going to their custodians to verify data, while protecting the proprietary nature of the custodians’ information.”

“The initial response from customers we’ve talked to about GCA has been very positive,” Femia said. “As the volume of corporate actions increases worldwide, this is a unique opportunity to address our customers’ demand for centralized and accurate corporate action information to help them better manage costs and risks.”

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XcitekSolutionsPlus and Asset Control Announce Strategic Partnership Agreement

Mon, 17 Mar 2003 00:00:00 CST

New York, NY, March 17, 2003 – XcitekSolutionsPlus (XSP™) and Asset Control, industry leaders in corporate actions processing and investment data integration, today announced a strategic alliance to provide a seamless integration between their respective solutions. The integrated solution will offer financial institutions a comprehensive approach to managing corporate actions processing through XSP’s award-winning solutions, while employing Asset Control to manage the full lifecycle of data capture, cleansing, consolidation, enrichment and storage of reference, price and corporate actions data into “golden copy” data.

“This alliance with Asset Control answers our customers’ needs for data management that integrates the full range of investment data affected by corporate actions,” states Brendan P. Farrell, Jr., managing partner of XcitekSolutionsPlus. “The ability to link XSP’s STP tools for corporate actions with Asset Control’s data integration capabilities adds important features to both technologies, and allows our existing and future clients to leverage best of breed solutions in two major problem areas – corporate actions and investment data integration.”
“The advanced corporate-actions processing solution of XSP can now be delivered as a valuable business application for users of Asset Control and our outsourced service, ACDEX,” said Ger Rosenkamp, CEO of Asset Control. “Corporate actions are often major instigators of change in reference and price data, and our two solutions working together provide a means of both processing the events themselves and managing their repercussions on institutional data.”

The XcitekSolutionsPlus and Asset Control partnership will be the first offering of its kind to the securities industry.

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XcitekSolutionsPlus Selected to Automate First American Trust's Corporate Actions

Wed, 12 Mar 2003 00:00:00 CST

New York, NY, March 12, 2003 - XcitekSolutionsPlus (XSP™), the leading provider of corporate actions automation, announced today that First American Trust, an Orange County, California based registered investment advisor and provider of fiduciary services, has licensed XSP™ to automate the trust company’s corporate actions processing. In addition, First American Trust has subscribed to Xcitek’s corporate actions data services for corporate and municipal securities.

XSP™ can substantially reduce the risk that is associated with processing corporate actions through complete automation. From the capture of data, event notification, and response tracking through the processing of entitlements, XSP™ allows the user to manage the corporate actions process and monitor exceptions.

“XcitekSolutionsPlus welcomes First American Trust as a new client. We are extremely pleased with how quickly we were able to incorporate our suite of products into First American Trust’s business infrastructure. First American Trust required an aggressive time schedule to automate a solution and one of our greatest strengths is the ability to implement the application into a live environment. In First American Trust’s case, we were able to kick-off the project, install the application, train the users and expect to move them into production all in a matter of eight weeks,” stated Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus.

“First American Trust chose XcitekSolutionsPlus because they are the market leader in corporate actions automation, with the largest client base and the most proven product. We are extremely delighted with their implementation process and the knowledgeable staff that provided excellent client services. We needed to meet a very strict timeline with the installation of a solution and XSP™ met every one of our expectations, including physically installing the entire application within one week after the contract was signed.” commented April Eden, Vice President of Trust Operations at First American Trust.

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