Markit Signs Multi-Year Contract Renewal and Service Expansion with XSP to Streamline Corporate Actions Processing
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LONDON, UK - XSP, the global leader in end-to-end Corporate Actions automation, announced today that Markit, a leading, global financial information services company, has signed up for XSP's new Headline Indices functionality. Markit uses the XSP® v5 platform to supply buy- and sell-side firms with daily calculations for its various index services. The addition of XSP's Headline Indices functionality will allow Markit to optimise its clients' portfolios of securities throughout their lifecycle via the existing XSP v5 workflow.
Paul Grimes, Managing Director at Markit, said, "XSP enables us to streamline some of our more complex processes and make our operations more scalable. The extension of our agreement strengthens our relationship with XSP and provides a basis for future product enhancements."
"We are thrilled that Markit has extended their contract," stated Neil Sheppard, Managing Director and Chief Operating Officer, EMEA at XSP. "This renewal demonstrates the emphasis XSP puts on continuously delivering the highest level of customer service. Markit has expanded their ever-increasing usage of the XSP v5 platform by licensing the Headline Indices functionality. This will allow the core data team based in London to prioritise and filter their workload more effectively enhancing the level of service they provide internally to their index management business groups. The downstream benefit to the index management business groups will be the ease with which they will be able to interrogate their own bespoke universe of securities."
The XSP v5 platform is XSP's state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. A Microsoft Gold Certified Partner, XSP re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a Service-Oriented Architecture (SOA), utilising Microsoft .NET components and Windows Communication Foundation (WCF) 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).
About XSP
XSP is the global leader in end-to-end Corporate Actions automation solutions for the global financial services industry. Accredited with the SWIFTReady Corporate Actions Label, the XSP platform is SWIFT ISO 15022 compliant and proven to mitigate the operational risks and costs associated with Corporate Actions processing. This leading-edge solution features an extensive workflow module and robust data management tools. XSP's Web-based eTRAN® and SWIFT ISO messaging modules automate the client notification and response capture and reconciliation of elections on complex Corporate Actions events. The XSP Entitlement Management module completes the Corporate Actions processing lifecycle for true end-to-end straight-through processing. With over 60 global clients, the XSP software is the most widely-implemented Corporate Actions solution in the world.
The XSP GO!(TM) Product Suite is one of the latest innovative offerings from XSP that addresses many new product and technology initiatives around cloud computing, mobile delivery and social networking collaboration which facilitate automating of the last mile in the global Corporate Actions processing chain.
XSP is a Microsoft Gold Certified Partner and has achieved a Microsoft Competency in ISV/Software Solutions. The Company has also been named 2010 Leader in Innovation in Corporate Actions by Financial-i Magazine and recently won the Systems in the City award for 'Best Corporate Action & Reference Data Provider' award. For more information, please visit us at www.xsp.com and follow us on Twitter @XSPGlobal.
About Markit
Markit is a leading, global financial information services company with over 2,300 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial marketplace. For more information, please visit www.markit.com.
CONTACT
Esmeralda Estrella
Marketing Communications Specialist
XSP
+1 646 300 6806
eestrella@xsp.com
www.xsp.com
