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Evergreen to Use Xcitek for Corporate Actions, and more

Evergreen Goes Live With Xcitek XSP, Advent Signs Two to Moxy OMS, IW Financial Adds Info on Sudanese Involvement to Workstation

Evergreen Using Xcitek's XSP for Corporate Actions

Evergreen Investments has gone live with the XSP software solution for corporate actions processing from market data provider Xcitek.

XSP is ISO 15022 compliant and features data scrubbing tools, workflow management modules, Web and ISO messaging for client notification and response capture, and entitlement processing. Evergreen will leverage XSP's corporate actions processing ability to manage risk and reduce costs.

"The implementation of XSP at Evergreen provides us with a tool that enhances operational efficiency and control for our current corporate actions process. During our extensive analysis of corporate actions software providers, we found XSP to offer a robust and flexible solution that fits our processing workflow," said Marcus Spero, vice president of investment services at Evergreen, in a release.

Two Firms License Advent's Moxy OMS

Investment management software provider Advent Software has brought two new clients into the fold. Financial Management Advisors LLC and Taiyo Pacific Partners LP have both adopted Advent's trade order management system, Moxy.

Advent is pleased with the product's adoption rate. Since introducing the latest version of Moxy 15 months ago, more than 70 firms have selected the product.

"We've been making great strides in attracting new firms - particularly hedge funds - to Moxy by offering a solution that maximizes trader efficiency, offers comprehensive global security coverage, and connects to a wide variety of trading partners," said Creighton Reed, director of product marketing for Advent's trade order management and compliance business, in a release.

The Moxy platform streamlines the trade order management process, enabling trade creation and improved order execution, helping traders scale their business, handle more accounts with fewer resources, and improve counterparty connectivity.

IW Financial Adds Sudanese Involvement Data to Workstation

IW Financial has added information on corporate involvement in Sudan to its IWF Workstation platform, allowing asset managers, institutional investors and plan sponsors to identify publicly traded companies with exposure in the region. The IWF Workstation platform integrates an array of corporate practices and corporate governance research with user or client defined criteria, identifying investments that meet specific guidelines or are best aligned with a portfolio standard.

The Conflict Securities Advisory Group, a research firm dedicated to identifying and assessing companies that have business activities in terrorist-sponsoring states as designated by the State Department, is providing the research on Sudan.

Investor interest in Sudan has risen lately in the U.S. with several states passing Sudan divestment legislation, prohibiting state pension funds from investing in companies doing business there. This has been a reaction to the ongoing crisis in Darfur, which has been classified as genocide by the U.S.

"We have seen a significant increase in the level of interest in Sudan on the part of our clients," said Sam Pierce, CEO of IW Financial, in a release. "The issue poses compliance problems for money managers working with clients who require divestiture and, at the same time, present opportunities for those working with clients who are concerned about human rights."

Initially, the IWF Workstation will enable managers to identify and exclude companies doing business in Sudan. Future product releases will offer a more complete picture of the companies' activities.

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