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XSP Enters Into Alliance with DTCC and Signs Certified Partner Agreement for Global Corporate Actions Validation Service

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XSP, the global leader in automated end-to-end corporate actions solutions, announced that it has signed a Certified Software Partner agreement with DTCC Solutions. XSP and DTCC have enjoyed a longstanding relationship offering their mutual clients solutions that reduce the risks and costs associated with this highly-complex process and this new DTCC certification program will ensure that clients can maintain the highest quality service as market trends evolve. DTCC is a recognized market leader in delivering timely, accurate scrubbed Corporate Actions information. DTCC Solutions is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).

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 has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture (SOA), utilizing 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 straight-through processing (STP).

The XSP GO! product is one of the latest innovative offerings from XSP designed to provide clients with customizable user interface components for major functions from within the XSP platform. These components can be arranged and customized based on each user’s preference to enhance their securities processing experience and help maximize productivity. The XSP GO! mobile app allows clients to view Corporate Actions notifications and submit elections against those Corporate Actions for downstream processing.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “DTCC is focused on delivering comprehensive corporate actions information solutions to meet the ever-changing industry requirements, while XSP is committed to continuously developing innovative offerings to keep ahead of the ever-increasing market and client demands. We share the strong belief that the automation of Corporate Actions processing will position the industry for radical growth. Our relationship gives global financial institutions access to flexible, proven and state-of-the-art tools to automate their operations and promote greater STP. By combining the XSP v5 platform and XSP GO! Product Suite with DTCC’s GCA Validation Service, the industry will benefit from streamlining this complex process while increasing efficiencies and providing risk-controlled performance. We look forward to many more years of working side-by-side with DTCC to deliver cutting-edge solutions to the financial industry.”

Dan Thieke, DTCC vice president, Asset Services, said, “DTCC never stops striving to deliver innovative solutions that meet the demands of the financial services community. Processing our highly accurate, corporate actions announcements on securities from more than 200 countries via XSP’s platform creates a stronger solution for the industry. We are excited about this relationship with XSP, and we look forward to continuing to provide new corporate actions solutions for the industry in the future.”

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