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DataArt Announces its Role in Completing Development for XSP

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DataArt, a high-end software development company headquartered in New York with R&D centers in Eastern Europe today announced it has completed enhancements for XSP, the global leader in automated end-to-end Corporate Actions software.

The XSP v5 platform is the state-of-the-art solution from XSP developed to automate each step in the processing of global Corporate Actions. Deployed locally or ‘In the Cloud’, the XSP v5 platform is built around a service-oriented architecture (SOA), utilizing 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).

“DataArt understands our mission of delivering timely and innovative solutions with robust functionality to help our clients maximize operational efficiencies,” said Dan Retzer, Managing Director and Chief Technology Officer at XSP. “When we initiated development of our Research Data module to help XSP clients manage this additional data pertinent to Corporate Actions processing, we selected DataArt to ensure that this project was delivered on time and on budget. We have worked with DataArt on previous engagements and were confident in their ability to help us enhance our offerings while providing excellent service.”

The XSP software eliminates the traditional, manual processing of Corporate Actions – one of the industry’s most complex and high risk functions to automate. The XSP v5 solution conforms to industry standards and is designed to integrate with financial data vendors in all widely used data formats. Clear modular design and extensibility allows customization and expansion of the system to meet new requirements in the constantly changing world of finance.

DataArt was selected to develop and implement custom enhancements to the existing XSP product suite. The data processing engine in the new Research Data subsystem has been extended to process shares and pricing data workflow with a highly-flexible configuration used to define the rules of data processing and results evaluation. DataArt designed an additional front-end UI to provide data and configuration management for the research data. The new subsystem was incorporated into the XSP application and met all infrastructure requirements: connected with audit and logging support layers, the XSP Event Driven Architecture, and UI permissions configuration.

“XSP’s focus on their clients’ unique needs and delivering innovative yet stable solutions have kept them as the leader in Corporate Actions automation,” said Eugene Goland, President of DataArt. “We’re delighted and excited that XSP turns to DataArt for challenging projects that demand intuitive thinking, razor sharp attention to detail and consistent timely and first class delivery.”

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