International Broker-Dealer Goes Live with XSP Software
XSP has announced that the broker-dealer arm of an international financial services provider, ranked among the top 25 financial institutions worldwide, has selected the XSP software for automated corporate actions processing and has gone live with the application. The client also rolled out the eTRAN module (which stands for electronic tracking response and notifications) for the automated notification and response capture of elections. Accredited with the SWIFTReady Gold Corporate Actions Label, the XSP application is SWIFT 15022 compliant and features data management components, workflow management modules, web and ISO messaging for client notification, response capture as well as a complete entitlement processing engine. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software is designed to capture and sanitise data from multiple vendor sources including custodian data in the SWIFT 15022 compliant format. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. The web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.