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U.S. Clearing partners with Equifax; XcitekSolutionsPlus to provide corporate-actions processing to U.S. Bancorp.; Wall Street Systems launches Hedge Compliance Module.

U.S. Clearing, a division of Fleet Securities, Inc., announced that it has partnered with Equifax, the credit-reporting agency, to assist correspondents in meeting the information-verification requirements that are part of their Customer Identification Program responsibilities under the USA Patriot Act of 2001. The Customer Identification Program (CIP), section 326 of The USA Patriot Act of 2001, requires all financial institutions to establish risk-based procedures to verify the identity of each new customer, either through a document such as a driver's license or passport, or by obtaining information from other financial institutions. This service, known as ePort, is an Internet-based product that enables the introducing broker to obtain the information needed to verify customer information in a quick and efficient manner.

XcitekSolutionsPlus, a provider of corporate-actions automation, announced that Minneapolis-based U.S. Bancorp has signed a multi-year agreement to license XSP for corporate-actions processing. In addition, U.S. Bancorp has also licensed eTRAN, the Web-based module for automated notifications and the capture and tracking of all responses. Following an extensive evaluation of corporate-actions-solution providers, the financial-services-holding company with assets of $189 billion, selected XSP's solution. In conjunction with XSP, U.S. Bancorp has also licensed Xcitek's corporate-actions data.

Wall Street Systems Inc., a provider of global-treasury and capital-markets solutions and services, announced that it has launched a new Hedge Compliance Module to meet worldwide hedge-accounting requirements. The new module addresses all international hedge-accounting standards including FAS 133, IAS 39, AcG13 in Canada, and SAS 33 in Singapore. This module further enhances the functionality of the front-to-back office Wall Street System treasury engine.

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