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."