Prior to the acquisition, three companies were branded under the well-established âXcitekâ name. These included: Xcitek, LLC, provider of market data solutions; XcitekSolutionsPlus, LLC, provider of Corporate Actions software; and Xcitek Consulting Services Inc., provider of full-service staffing to financial institutions. XcitekSolutionsPlus, LLC, and Xcitek Consulting Services Inc. will continue to operate as separate independent business entities, with XcitekSolutionsPlus, LLC being re-branded as âXSPâ.
Brendan P. Farrell, Jr., Chief Executive Officer at XSP, commented, âWhile the three companies provided complementary offerings and marketed under the common âXcitekâ brand name, each entity always focused on their individual core businesses. With the sale of the market data company, the XSP software and Xcitek consulting businesses will continue to grow within their respective sectors.â
XSP will remain in its current locations with offices in Birmingham, London and New York. To facilitate growth in the Corporate Actions software business, the XSP New York staff recently relocated to new space on the 20th floor at 5 Hanover Square. The acquisition of the market data company by Interactive Data Corporation has no impact on XSP clients or its personnel.
âXSP was fortunate to be born out of the leading provider of Corporate Actions data solutions and we have successfully leveraged this expertise to position us as the leading player in the Corporate Actions automation space,â said Farrell. âNow as a mature organization with a proven implemented solution supporting over 55 clients globally, the acquisition of the assets of market data provider Xcitek, LLC offers even greater opportunity for us to grow, independent of any other related business entities. This is the most exciting time for us yet, as we launch the V5 platform â the next generation in Corporate Actions automation technology. V5 incorporates our extensive industry-leading business processes â developed with our global client partners over our first 11 years â with our new SOA/Web Services based technology that facilitates integration across the enterprise backboned with a more robust and secure globally-scalable architecture.â
XSP supports the most comprehensive Corporate Actions data interfaces in the financial industry with the worldâs leading data providers. In addition to Xcitek and Interactive Data, XSP also has interfaces with such international market data providers as Bloomberg, Canadian Depository for Securities Ltd. (CDS), DTCC, Exchange Data International, Fidelity ActionsXchange, London Stock Exchange, Reuters, Standard & Poorâs, Telekurs and more.