New York, NY, April 2, 2003 â XcitekCostBasis, the leading automated solution for supplying cost basis and tax data, announced today that Marshall & Ilsley Trust Company N.A. (M&I Trust) has entered into a 3-year agreement to license XCBâ¢ for cost allocation factors and tax opinions on corporate actions.
"After a thorough due diligence of cost basis products and the needs of our customers, we found XcitekCostBasis to provide us with timely and accurate information. The move to XCBâ¢ has proven to be successful for M&I Trust Company in our increased accuracy and timeliness of processing cost basis activity on corporate actions for our customers," commented Mark Cashion, Assistant Vice President of M&I Trust Company.
"This agreement with M&I Trust reinforces our leading position as the solution to cost basis automation," said Brendan P. Farrell Jr., President of XcitekCostBasis. "We are thrilled to have the opportunity to enhance M&I Trustâs operations. XCBâ¢ is one of our fastest growing products because of its superior data accuracy and timeliness as well as our world-renowned client service and management."