@CloudExpo Authors: Elizabeth White, Flint Brenton, Pat Romanski, Liz McMillan, Carmen Gonzalez

News Feed Item

Broadridge Enhances Managed Data Service Offering, Signs First Client for Global Corporate Actions Solution

Solution leverages partnership with XSP to centralize and reduce financial firms' operational costs, delivering an estimated 30% annual savings on cost of ownership

LAKE SUCCESS, N.Y., Dec. 3, 2012 /PRNewswire/ -- Broadridge Financial Solutions (NYSE: BR) - through an alliance with leading corporate actions service provider XSP - today announced that it has signed a large North American broker-dealer as the inaugural client to use its Global Corporate Actions Solution (GCAS) product. The combined offering introduces a streamlined way to deliver the highest-quality end-to-end corporate actions processing for financial services firms worldwide.

(Logo: http://photos.prnewswire.com/prnh/20110920/MM71626LOGO )

Rapid market globalization, rising transaction volumes and growing complexity have increased the burden on firms' corporate actions staffs and infrastructures, diminishing operating efficiency and increasing risk. As challenges persist for the financial industry in today's evolving marketplace, the speed and accuracy of a firm's global corporate actions processing can be a competitive advantage.

Key market drivers causing financial firms to rethink their approach to the corporate actions function include:

  • Improvement in operating efficiency
  • Navigation of the complexities of regulatory compliance
  • Reduction in data management costs
  • More effective management of risks
  • Faster entry into new markets
  • Enhancement of the customer experience
  • Tangible ROI

"Despite significant industry advances in automating the investment lifecycle, traditional global corporate actions processing remains outdated and is often labor-intensive, tending to result in outcomes prone to errors and inaccuracy," said Susan Certoma, President, Brokerage Processing Services, Broadridge. "Through the GCAS offering, Broadridge has a unique opportunity to enable implementation of a fully-managed end-to-end, automated process for corporate actions that reduces costs, risks and complexity, while at the same time significantly enhancing the quality of data, productivity and delivery options. Broadridge's fully-managed service model is also tailored to individual client needs, such as increased accuracy of announcements from multiple sources and timely delivery of clean events to decision makers, so we're able to provide targeted solutions for specific departments across all asset classes."

Brendan P. Farrell Jr., Chief Executive Officer at XSP, commented, "We are excited to sign our first Broadridge client to the GCAS offering. This large broker-dealer conducted an extensive analysis of both the technical and business processes, which confirmed the undeniable strength of our combined offering. In addition to leveraging SWIFT ISO messaging to further promote straight-through-processing (STP), they also see the value of our highly-configurable XSP GO!™ dashboard, which caters to the unique requirements of their retail and institutional end users. Our focus has always been on the development and support of our software. As a result of our continuous investment we are constantly expanding and enhancing the functionality of our solutions. We look forward to working with Broadridge in helping other financial institutions streamline end-to-end processing for corporate actions."

The XSP v5 solution combines state-of-the-art technology with feature-rich functionality to help manage every critical step in the Corporate Actions lifecycle. The platform is built with the industry's most advanced technology to enhance levels of STP while eliminating manual intervention. The reliance on paper notifications is reduced and the need to re-key data is eliminated. Unlike other resource-intensive and time-consuming proprietary systems, the XSP v5 platform is a flexible, proven and cost-effective alternative that integrates easily with existing infrastructures.

Since announcing their strategic relationship in March and going to market, Broadridge has been working closely with XSP to raise awareness of its combined solution among clients and is currently in talks with several other financial institutions. In addition, Broadridge has installed the application itself and has begun the process of integrating into the framework of back-office operations. The combined offering enables clients to maximize operational efficiencies and facilitate very high levels of STP for corporate actions.

This product is part of Broadridge's Managed Data Service offering, which provides a complete solution to help clients meet increasing regulatory demands for data consistency, transparency and accuracy, while avoiding the high costs and potential risks associated with a company gathering, cleansing and distributing such data on their own. Broadridge's Managed Data Service package offers a full-service processing platform in Reference Data, Client and Counterparty, Pricing and Corporate Actions that allows for streamlined delivery of high-quality, customized solutions to the mass market through a single, data-vendor neutral provider worldwide.

About Broadridge
Broadridge is a technology services company focused on global capital markets.  Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries.  Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $4.5 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions.

For more information about Broadridge, please visit www.broadridge.com.

About XSP
XSP is the global leader in end-to-end Corporate Actions automation solutions for the global financial services industry. Accredited with the SWIFTReady Corporate Actions Label, the XSP platform is SWIFT ISO 15022 compliant and proven to mitigate the operational risks and costs associated with Corporate Actions processing. XSP offers a flexible menu of options including Managed Cloud Hosting or SaaS environment via our new XSPrisa™ product. The XSP v5 platform can also be implemented on-premises in large scale, multi-tenant enterprises. The XSP GO!™ Product Suite addresses many new product and technology initiatives around Cloud Computing, Mobile Delivery and Social Networking Collaboration which facilitate automating of the last mile in the global Corporate Actions processing chain. XSP is a Microsoft Gold Certified Partner and has achieved a Microsoft Competency in ISV/Software Solutions.

For more information, please visit us at www.xsp.com and follow us on Twitter @XSPGlobal.

Media Contacts:

Kelly M. Howard

Krista Eccleston



+1 212-981-1347

+1 212-704-4438

[email protected]

[email protected]

SOURCE Broadridge Financial Solutions

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
OnProcess Technology has announced it will be a featured speaker at @ThingsExpo, taking place November 1 - 3, 2016, in Santa Clara, California. Dan Gettens, OnProcess’ Chief Analytics Officer, will discuss how Internet of Things (IoT) data can be leveraged to predict product failures, improve uptime and slash costly inventory stock. @ThingsExpo is an annual gathering of IoT and cloud developers, practitioners and thought-leaders who exchange ideas and insights on topics ranging from Big Data in...
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...