XcitekSolutionsPlus has signed up its first hedge fund client in Europe as Polygon Investment Partners licenses the XSP software system for corporate actions processing. The global hedge fund advisor will interface XSP’s service across its London and New York offices through its already-installed FundManager portfolio management system from Beauchamp Financial Technology. Says Manuel Guerrero, head of operations at Polygon, “We evaluated the corporate actions software providres in the marketplace and found XcitekSolutionsPlus to the vendor of choice…” The reasons included its functionality, track record including experience working with back office accounting systems and its willingness to interface with Beauchamp’s service.
At the same time, Winston-Salem, NC-based Branch Banking & Trust Co. (BB&T) has begun using XSP’s corporate actions processing solution alongside its corporate actions and cost basis data. Says Brendan Farrell, managing partner of XcitekSolutionsPlus, “BB&T is a SunGard AddVantage user and is now the third XSP client to interface to this accounting system.”