In a five-year deal with Xcitek to automate its corporate actions processing, Credit Suisse Asset Management (CSAM) in New York, part of Zurich-based Credit Suisse Group, will use eTRAN (Electronic Tracking Response and Notifications) and the ISO 15022-Compliant Messaging Module of XSP for automated client event notification and response capture of elections. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.
Xcitek is also working with the London Stock Exchange (LSE) to take delivery and process its corporate actions data in the ISO 15022 format in its flagship product, XSP.
The LSE has been distributing its corporate actions and dividend data in the ISO 15022 format in near real time over the Swift network since August 2004.
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