LONDON, UK - XSP, the global leader in automated end-to-end Corporate Actions software, announced that its XSP® v5 platform, has achieved the 2011 SWIFTReady Corporate Actions Label in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Financial Enterprise Application Integration (EAI) product. For the seventh consecutive year, XSP is recognised for fulfilling all application verification and technical validation requirements to ensure that the XSP v5 platform provides high-level quality service to meet the increasingly-complex market demands.
XSP earned the label after completing SWIFT's comprehensive and extensive testing that focuses on business and technical compliance to the SWIFT Standards, interface connectivity, message processing and directories. Accreditation by SWIFT assures the financial community that the highest levels of quality are practiced.
Filip Versluys, Head of Partner Management at SWIFT, said, "Achieving the 2011 SWIFTReady Corporate Actions Label has once again proven XSP's commitment to the financial services industry. Each year the level of mandatory criteria evolves based on the market and customer needs. XSP continues to provide excellent adherence to SWIFT Network Validation and Event Interpretation Grid (EIG+) criteria whilst demonstrating exemplary performance against Securities Market Practice Group (SMPG) guidelines. In addition, based on our internal analysis, the XSP system has generated an astounding average of five million Corporate Actions messages annually across the SWIFT network since 2009. We are elated to once again recognise XSP for achieving accreditation in this programme."
Paul Fullam, Senior Director, Business Strategy at XSP and Co-Chair of ISITC Corporate Actions Working Group, said, "We are delighted to receive the 2011 SWIFTReady Corporate Actions Label for the seventh consecutive year. This is a significant acknowledgment of our dedication to providing the market with a state-of-the-art solution that reduces risks and cost. We support SWIFT's commitment to providing customers with solutions held to the highest of industry standards and best market practices. Although Corporate Actions processing continues to be complex and risky, we are constantly working with partners like SWIFT to drive industry standards and greater transparency, beginning at the issuer level, to promote maximum straight-through processing (STP)."
The XSP® v5 platform is XSP's state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. As Microsoft Gold Certified Partner, XSP has 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 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 STP.
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.
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