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Cantor Fitzgerald Europe Selects XSP™ from Xcitek® to Automate Corporate Actions Processing

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.”