New York, NY, April 5, 2004 – Xcitek LLC, the leading provider of corporate actions data, announced today a strategic alliance with Financial Information Network, Inc. (FIN), a leading provider of global investment accounting and trading solutions to financial institutions. Through a marketing agreement, Xcitek will provide FIN clients with its award-winning corporate actions data as well as cost basis information.
Xcitek provides financial institutions with the most timely, accurate, and complete securities processing information. For the tenth consecutive year, Xcitek has been identified as the market leader by operations professionals – as compiled by The Summit Group and Securities Operations Forum – for its comprehensive corporate actions data including: Bulk Data for North American Fixed-Income & Equity Securities as well as Online Data for North American Fixed-Income & Equity Securities.
Joseph M. Carvalhido, Managing Partner at Xcitek commented, "We are very excited to partner with a firm like FIN. They invest heavily in product development and client support to deliver high-quality solutions to large-scale investment firms. By combining FIN’s complete global portfolio management system with Xcitek’s renowned data, FIN clients will see the benefits of improved corporate actions and cost basis processing."
FIN's Global Portfolio System (FINGPS®) has been a strong foundation on which money managers and SMA sponsors rely to run their businesses. FIN continually builds on this foundation to improve and expand using the latest in cutting-edge technology. Its real-time, feature-rich system is a total technology solution for investment firms.
Linda Cottrell, Client Retention Director at FIN says, "We evaluated the leading corporate actions solution vendors and decided to implement Xcitek’s products for all clients as it offers the most cost effective and easily automated solution. This solution provides FIN clients with more timely and accurate U.S. corporate actions and facilitates a high level of automation with processes that were predominantly manual in the past."
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