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XSP Launches ASP Global Corporate Actions Solution in AsiaPac

XSP, a vendor of corporate actions software, announced today that it has launched an application service provider (ASP) offering of its flagship XSP v5 corporate actions solution on the Decillion Group platform. Decillion Group, a banking software solutions provider and operator of the largest Swift Service Bureau in the AsiaPac region, formed a partnership with XSP in the fourth quarter of 2009 to market and support the XSP v5 solution in a software as a service (SaaS) environment for the local Asian and Australian markets. Live on the Decillion Group platform, the XSP solution also sources global corporate actions data from Interactive Data, a provider of financial market data, analytics and related solutions.

The XSP v5 platform is the state-of-the-art solution developed to automate each step in the processing of global corporate actions. A Microsoft Gold Certified Partner, XSP has engineered its platform using advanced Microsoft technologies. Deployed locally or ‘in the cloud’, the XSP v5 platform is built around a service-oriented architecture (SOA), utilising 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).

Brendan Farrell, chief executive officer at XSP, said: “As XSP continues to develop in the AsiaPac region, this latest ASP solution hosted by Decillion provides our clients with an alternative option of deploying the XSP v5 platform via ‘In the Cloud’ technology. The Asian and Australian markets present significant opportunities where local financial institutions can greatly benefit from automating their end to end corporate actions processing with the power of the XSP v5 platform. In addition, our established relationship with Interactive Data allows us to quickly and easily integrate their high-quality corporate actions data within our offering. By leveraging our global network of well-respected partners, we can help our clients in the Asia-Pacific region achieve greater levels of STP for this high risk and specialised area of operations.”

Decillion Group is also a Microsoft Gold Certified Partner and a Swift Service Partner in Asia Pacific. Decillion provides Swift business solutions, automation and integration services along with world-class banking solutions such as trade finance/services, mobile banking, wealth management, operational systems, anti-money laundering as well as SaaS platform for Swift connectivity and Swift related applications.

“The successful deployment of the XSP v5 solution combined with Interactive Data’s comprehensive corporate actions data on our hosted platform demonstrates the wealth of expertise and great working relationship developed between our respective organisations,” said Thomas Lee, chief executive officer of Decillion Group. “The fact that both the XSP and Decillion solutions are built using Microsoft technologies made the integration process that much easier. Not only can Decillion accept Swift payment messages, we can now send and receive Swift corporate actions messages in the ISO standard format. We are delighted to be able to offer our Asia-Pacific clients a proven solution that streamlines the global corporate actions process.”

Interactive Data has decades of experience in gathering, updating, validating and delivering global corporate actions data to financial institutions covering multiple markets and instrument types, empowering clients to effectively monitor events that impact the financial markets. Its exceptional depth and quality of corporate actions data, enabling tracking and processing of mandatory and optional events, is available throughout the trading day in a variety of formats, including XML and ISO 15022, streamlining integration into financial systems and applications.

Magnus Cattan, director, business development (Asia), Interactive Data, commented, “With the rising volume and complexity of corporate actions events, it is critical that financial institutions have access to timely and comprehensive data through a state-of-the-art, automated processing platform to help mitigate risks and maximise operational efficiencies. Interactive Data’s corporate actions data provides clients with the information they need to help them manage risk exposure across the enterprise. Our long-standing relationship with XSP dates back to over a decade and now covers pricing data, in addition to global corporate actions data. We are pleased to offer the Asia-Pacific markets such an innovative service that combines the domain expertise of XSP, Decillion Group and Interactive Data.”

“Microsoft continues to leverage our partner ecosystem to help the Capital Markets community gain efficiencies with high-performance solutions that streamline operations as complex and challenging as corporate actions processing,” said Colin Kerr, worldwide industry manager, Payments and Core Banking, at Microsoft. “As Microsoft Gold Certified Partners, XSP and Decillion Group have access to specialised resources and support that allow them to develop cutting-edge solutions. Built using .NET technologies, this ASP version of the XSP v5 product running on a SQL database provides the benefits of reliability, scalability and security to deliver a cost-effective solution that facilitates superior performance. We are pleased with this latest joint offering developed with Microsoft tools and we look forward to showcasing live demonstrations of the XSP v5 solution at the launch event scheduled for 13 August in Singapore.”

Adam Wilson, head of Securities Markets Asia Pacific, at Swift, commented, “The AsiaPac region is Swift’s largest growth area for ISO messaging traffic. This latest offering by XSP, Decillion and Interactive Data demonstrates their collaborative efforts and strong commitment to ongoing advancements in corporate actions processing. As the volume of announcements continue to increase, innovative solutions such as this latest on-demand XSP v5 service are designed to meet the evolving corporate actions processing needs of the Swift community. We look forward to continue working with our trusted partners to deliver value-added and cost-effective solutions to the global marketplace.”

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