LSE to Deliver Corporate Actions With Xcitek's XSP
The London Stock Exchange (LSE) will use Xcitek's flagship XSP product to deliver corporate actions data in the SWIFT ISO 15022 format. By providing data in this standard messaging format the Exchange will be able to offer more robust straight-through processing while reducing operational costs and risk.
The LSE began distributing its corporate actions data in the ISO 15022 format in August of 2004 in near real time over the SWIFT network. Doing so eliminates the need to rekey data into internal systems and reduces processing time delays. The service helps meet the industry's demand for corporate actions standardization and straight-through processing.
Xcitek's XSP application is SWIFT ISO 15022 compliant and features data scrubbing tools, workflow management modules, Web and ISO messaging and complete entitlement processing.
Xcitek is a provider of market data, corporate actions software and staffing solutions to the financial services community. It's flagship product is the corporate actions system XSP, which, with over 50 clients, is the most widely used application of its kind.
The London Stock Exchange is a recognized investment exchange under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority. It is the most international equities exchange, trading in the world and Europe's largest pool of liquidity.
ADP Wins CIPA With Smart Prospectus
ADP Investor Communications, a subsidiary of Automatic Data Processing, is the recipient of the Gold Award of Excellence for best of category in customer care, presented by the Canadian Information Productivity Awards (CIPA) program for 2005. ADP's Smart Prospectus solution is honored by CIPA as a prospectus delivery application that enhances customer service and generates high productivity through its advanced technology.
The award was presented during the 13th Annual CIPA Gala Banquet. The event recognized excellence in IT innovations and best practices implementation in Canada. The CIPA Gold Award of Excellence is the highest form of recognition for an organization. Finalists for the award are chosen from over 200 entrants by an independent committee of senior business and IT executives from across the country.
The winner of the award, Smart Prospectus, is a process for delivering mutual fund prospectus and trade confirmations to investors. The program is designed to assist dealers in meeting statutory delivery requirements and to replace current manual fulfillment practices.
"It is a tremendous honor for ADP Investor Communications to receive an esteemed CIPA award as it is indicative of the hard work and energy our talented staff has put into our products and services," said Sue Britton, senior vice president of ADP Investor Communications, in a release.