XSP, the leading global provider of Corporate Actions software, announced today that it has developed new opportunities to help clients generate revenues in Corporate Actions processing for the enterprise while addressing risk mitigation for this highly-complex area of operations. At the SIFMA 37th Annual Operations Conference and Exhibit taking place May 4-7, 2010 at the JW Marriott in Palm Desert, CA, delegates can visit XSP at booth #701 for demonstrations of its flagship state-of-the-art product, the XSPâ¢ v5 platform, as well as its latest new solutions which have helped its global clients leverage the benefits of a multi-tenant environment to generate financial returns.
The XSP v5 platform is the 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. Deployed locally or âIn the Cloudâ, the XSP v5 platform is built around a service-oriented architecture (SOA), 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 straight-through processing (STP).
Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, âAs a demonstration of our ongoing support for the SIFMA community and commitment to our 40+ live US-based customers â the largest concentration of installed clients in Corporate Actions automation â XSP is the only vendor dedicated exclusively to this niche space exhibiting at this conference. With eight of the top ten financial institutions in the world relying on the XSP software in their daily production environments, we have the proven track record and expertise to deliver a platform built upon advanced Microsoft technologies that meet our clientsâ unique requirements. Not only have we been able to successfully streamline end-to-end Corporate Actions processing, we have also developed innovative strategies where our clients can turn Corporate Actions servicing into a revenue-generating opportunity.â
âSince 1996, XSP has been addressing the intricacies of global Corporate Actions processing by constantly developing cutting-edge solutions to maximize operational efficiencies,â said Dan Retzer, Managing Director and Chief Technology Officer at XSP. âThrough our strong alliance with Microsoft, XSP has embraced Technology and Cloud Computing to help enterprises advance ten-fold while lowering the total cost of ownership. For XSP clients with many different business lines, they can centralize the XSP v5 platform by deploying a single instance of the solution across the entire enterprise. This multi-tenant approach translates to significant cost savings and allows each business unit to customize their own business rules engine and user interface.â
Paul Fullam, Senior Director of Business Strategy at XSP, commented, âThrough our active contributions in industry groups and cooperatives such as SIFMA, ISITC, SWIFT, SMPG, DTCC and others, we are uniquely positioned to represent and support our client base in global initiatives that facilitate best market practices. In addition to serving as a Co-Chair of the ISITC Corporate Actions Working Group, XSP dedicates multiple full-time professionals to industry groups engaging in initiatives that advocate ongoing enhancements and promote greater levels of STP in Corporate Actions processing. Our strategic product roadmap incorporates global industry initiatives including ISO 20022, XBRL, ongoing SWIFT Standards Release, the DTCC Reengineering Project as well as feature-rich functionality and enhancements in development to meet the future requirements of our unique and diverse client base.â