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XSP Wins 2012 Inside Reference Data Award for Best Corporate Actions Vendor

XSP, the global leader in automated end-to-end Corporate Actions solutions, have announced that it has won the 2012 Inside Reference Data Award for Best Corporate Actions Vendor. The award was presented to XSP by Incisive Financial Publishing Limited at the Awards Dinner held Tuesday, May 22, 2012 at the New York Marriott Marquis Hotel. The Awards Dinner brings together financial industry professionals across data management and trading technology to recognize the key players in the market.

XSP has continually distinguished itself by the quality of its v5 platform. First launched in April of 1996, XSP has significantly contributed to improving straight-through processing (STP) thanks to its 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 enhanced 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 STP.

“We are proud to receive this prestigious award from Inside Reference Data,” said Brendan P. Farrell, Jr., Chief Executive Officer at XSP. “It is truly an honor to be recognized as the World's best Corporate Actions processing platform solution by the global financial services industry and our clients who voted for XSP. Our focus on continuously enhancing our flagship solution while developing new offerings built on advanced technologies allows us to help our global clients achieve their business goals. Our new XSPrisa™ SaaS offering along with our proven XSP v5 platform, which is also available as a Cloud deployment, enables firms to maximize STP, eliminate risk and improve client service while minimizing overhead expenditures. We thank our loyal clients for their support.”

Michael Shashoua, Editor of Inside Reference Data, said, “With the complexity and volume of Corporate Actions increasing dramatically in recent years, XSP successfully addressed this with its software-as-a-service offering, XSPrisa. This product improved productivity and efficiency of processing Corporate Actions by its users, and also introduces social collaboration, through the XSPression™ network, to improve Corporate Actions processing. Our readers have recognized these capabilities, and therefore Inside Reference Data and Inside Market Data are presenting XSP with the 2012 award for Best Corporate Actions Vendor.”

XSP is expanding its market reach globally through its newest software-as-a-service (SaaS) offering, XSPrisa. The XSPrisa offering allows clients of all sizes to benefit from the power of the XSP v5 platform without ever dealing with the hurdles of deploying hardware and software. Further, clients pay only for what they use each month. This allows even the smallest financial services providers to deploy XSPrisa for a very low cost while also allowing firms to instantly scale up their usage as their business needs increase. This also makes XSPrisa ideal for new start-up businesses. In addition, clients can be up and running in hours or days as opposed to months and years. With XSPrisa, firms experience higher levels of productivity and efficiency at a cost that fits the way they do business with XSPrisa's subscription-based model.