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March 2, 2009

Markit rolls out XSP version 5 Corporate Actions platform

Modular approach and rules-based workflow engine helps gain immediate return on investment

By CBR Staff Writer

XSP, a provider of corporate actions software, has announced that Markit, a provider of financial information services, has completed its rollout of the XSP version 5 Corporate Actions platform and has gone live in London, New York and Singapore.

The XSP version 5 platform is developed to automate processing of global Corporate Actions. From Data and Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment with its modular approach and rules-based workflow engine, said XSP.

In addition to the XSP Data Management and Scrubbing module, Markit has also integrated the XSP Messaging module for automated notifications and the XSP Workflow Management module which automatically processes the Corporate Actions into Golden Records based upon a number of pre-determined rules, added XSP.

Neil Sheppard, managing director and chief operating officer, EMEA at XSP, said: “We are delighted with the global deployment of the XSP platform running at multiple sites at Markit. Whilst traditional clients of Corporate Actions automation solutions are typically financial institutions, the success of this implementation demonstrates the versatility of the XSP v5 platform to a broad range of global market participants. We look forward to continue working closely with Markit to help them achieve their goals of delivering solutions that reduce risks and improve operational efficiencies.”

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