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Hedge Fund Adopts XSP's Corp Actions Kit

A Hedge Fund based in New York City has licensed the XSP v5 solution for automated global Corporate Actions processing, according to XSP. Hedge funds are notoriously shy when revealing what technology they use and one can assume that XSP was not allowed to name the hedge fund.

According to XSP, the new client will implement the XSP Data Management & Scrubbing module, XSP Web-based eTRAN module for automated notifications, response capture and elections processing, XSP ISO Messaging and XSP Standing Instructions to streamline its Corporate Actions operations.

Brendan P. Farrell, Jr., CEO at XSP, says, "We are delighted to welcome another prestigious Hedge Fund client that is dedicated to providing innovative solutions to the financial community. The industry demands solutions that automate and streamline the highly-complex processing of Corporate Actions while closely monitoring risk exposure. At XSP we believe in delivering solutions that provide superior functionality combined with first-class customer service and cutting-edge technology."

He adds, "We look forward to helping this top Hedge Fund excel in its strategic goals."

"This Hedge Fund is a forward-thinking organization that considers technology not only an integral part of its strategy but a corporate function and general way of life," according to the XSP press release. Thanks to the XSP solution, "this Hedge Fund will benefit from a high availability platform, associated database backend and the use of virtual technologies to ensure transaction integrity. In addition, the Hedge Fund will have the ability to take advantage of XSP's modular, flexible and configurable design, which offers its clientele a powerful platform to streamline Corporate Actions processing."

The XSP v5 platform is built around a service-oriented architecture (SOA) and utilizes Microsoft .NET components and Web Services for global enterprise-wide processing.

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio

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