Marshall & Ilsley Trust Company, a subsidiary of Wisconsin-based bank Marshall & Ilsley Corporation, has signed a multi-year renewal agreement for XSP’s v5 corporate actions solution. According to Wayne Klomstad, senior vice president of Marshall & Ilsley Trust Company, it decided to extend its agreement with the vendor to cover the eTRAN module because of the “value” it as seen from the solution thus far.
Klomstad is also happy with the level of client support the firm has received from the vendor since it signed up for the solution in 2000. “Through the XSP eTRAN module, our third party clients will be able to notify and capture elections from all intermediaries involved, thereby further enhancing the downstream processing of corporate actions,” he continues.
Brendan Farrell, CEO of XSP, adds: “Through the use of the XSP and eTRAN modules, they are able to manage their risks and exposure involved in the processing of this highly complex area.”
It has been a relatively positive start to the year for the corporate actions solution vendor with the rollout of the v5 platform at Markit last month.