Trust Company of Illinois has selected Xcitek’s Class Actions (XCA) service to address the growing burden of tracking and potentially collecting from securities class actions. Doug Eyles, head of investments at Trust Company of Illinois, said, “After a brief trial period, we decided that XCA could help us to better track developments that might impact our client’s portfolios.” This follows Brotherhood Bank & Trust (BB&T)’s decision to implement the same web-based service announced earlier in the month. The service contains features such as customised watch lists, email alerts and portfolio monitoring that enable users to stay abreast of developments in the growing area of securities class actions. Another 70 firms are said to be trialling the service.
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