The XSP® software is the flagship solution from XcitekSolutionsPlus, the experts in enterprise-wide Corporate Actions automation. Accredited with the SWIFTReady Corporate Actions Label, the XSP software fully automates the Corporate Actions lifecycle for an area of securities processing that has long been considered one of the most challenging and high-risk operations for financial institutions worldwide. The achievement of this Label, awarded to applications that adhere to a strict set of criteria linked to the support of SWIFT messages and functionality, further validates XSP's status as the global STP solution for Corporate Actions.
The XSP software is flexible, feature-rich and robust and integrates easily with financial institutions' existing infrastructures. Implemented in live environments, the application delivers the core features and functionalities of Corporate Actions automation including:
Data Management: XSP Data Management module captures, scrubs and validates Corporate Actions data from more than 30 distinct market data vendor interfaces - in their own proprietary formats or the SWIFT ISO 15022 compliant format - to create the 'golden copy'/ 'composite record'.
Notification and Response: XSP Notification and Response module matches events against holdings and transactions on a daily/intra-day basis, generating automated event notifications to, and responses from, decision makers across disparate locations and geographies, according to each user's parameters, preferences and desired notification methods.
In addition to delivering the XSP application as a deployed solution, the eTRAN® (Electronic Tracking Response and Notification) module provides a secure, cost-effective, client-hosted extension of the notification and response solution. The eTRAN web-reporting tool allows decision makers to receive and review Corporate Actions announcements and submit responses and voting instructions from anywhere with intranet/ internet access.
Entitlements module links to financial institutions' books and records to obtain entitlement and trade activity information. XSP calculates entitlements and integrates seamlessly with internal accounting engines to process the movement of cash or securities. The XSP Event Diary Workflow engine manages the completion of each step within the Corporate Actions lifecycle, assigning a task due date, monitoring the completion date and trailing exceptions incurred in the process.
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Features
Supports 30+ vendor interfaces
Unmatched data scrubbing capabilities
SWIFT ISO 15022 compliance
Flexible rules-based engine |
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