XSP features comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP also offers the ability to manage client event notifications and election responses through both its ISO module and its web-based component, eTRANâ¢. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.
John W. Sweeney, Executive Director of Securities Services at Mizuho International plc commented, "After a detailed evaluation process of Corporate Action system providers which involved reference site visits and scoring of their core functionality we selected the Xcitek solution. XSP gives us end-to-end automation in our asset servicing area and enables us to offer a strong and competitive custody service to our clients whilst reducing operational risk. We look forward to strengthening our existing relationship with Xcitek and benefiting from their proven development and support services."
Brendan P. Farrell, Jr., Managing Partner of Xcitek said, "With the increasing volume and complexity of global Corporate Actions, a world-leading organisation like Mizuho International requires a robust Corporate Actions processing solution to maximise operational efficiency whilst delivering optimal service to their clients. The advanced multi-market processing capabilities of XSP facilitate true global straight-through processing (STP) for Mizuhoâs custody businesses. The success of this latest live implementation in Europe further validates Xcitekâs position as the worldwide leader in providing production ready solutions for Corporate Actions automation. Mizuho Trust & Banking Co. (USA) has been in production with XSP in its New York offices since 1999 and we look forward to continuing to provide the Mizuho organisation with our quality service and support."