XcitekÂ®, the leading global provider of market data, Corporate Actions software and consulting services, announced today that it has been selected by Financial News as one of the top 21 technology firms with the potential to shape the industry landscape in the new millennium. Xcitek joins this elite group in recognition as the Corporate Actions standard for its flagship software, XSPâ¢.
Financial News is a leading European publication covering the investment banking, securities and fund management industry. Driven by accuracy and integrity, its editors and specialist financial reporters are experts in their own fields providing in-depth coverage of important topics in the financial industry.
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, eTRANâ¢, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Brendan P. Farrell, Jr., Chief Executive Officer of XSP at Xcitek, said, âIt is truly gratifying, in our 10th anniversary year to be selected as one of the 21 companies to lead the 21st century. We believe that this is a direct reflection of our continuous investment in technology, functionality and people. Our goal is to honour this recognition by ensuring XSP remains the premier solution for global Corporate Actions processing for many years to come."