Xcitek, the provider of Corporate Actions software, market data and consulting services, says that Daiwa Securities America has extended its XSP software agreement for Corporate Actions processing. The Japanese-owned broker/dealer has renewed its contract for another three years.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features data management components, workflow management modules, web and ISO messaging for client notification and response capture and complete entitlement processing.
“We are delighted to extend our relationship with Xcitek,” says Nicholas C. Rubino, the Executive Vice President & Chief Operations Officer at Daiwa Securities. “Since the implementation of XSP at Daiwa in record time three years ago, XSP continues to reduce the risks inherent in the Corporate Actions process while enhancing the services we provide to our clients. Integrated with SunGard’s Phase3 securities processing solution, XSP helps us to achieve greater levels of straight-through processing to maximize operational efficiency. The solid results that we have achieved with XSP make this contract renewal a natural choice.”
“This agreement represents Daiwa’s ongoing confidence in Xcitek to deliver solid solutions,” adds Frank Piraino, the Senior Vice President of XSP at Xcitek. “We are fully committed to providing the highest levels of value and service for our global client base. XSP’s proven functionality and ongoing product development provide our clients with the necessary tools to meet their challenges and exceed their expectations. Daiwa is a valued XSP client and we are pleased to continue servicing them for another three years.”