Welcome!

Cloud Expo Authors: Carmen Gonzalez, Bernard Golden, Roger Strukhoff, Sandi Mappic, Esmeralda Swartz

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industry advances in automating the investment lifecycle, traditional global corporate actions processing remains outdated and is often labor-intensive, tending to result in outcomes prone to errors and inaccuracy," said Susan Certoma, President, Brokerage Processing Services,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

Broadridge




Edelman

+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
As Platform as a Service (PaaS) matures as a category, developers should have the ability to use the programming language of their choice to build applications and have access to a wide array of services. Bluemix is IBM's open cloud development platform that enables users to easily build cloud-based, creative mobile and web applications without having to spend large amounts of time and resources on configuring infrastructure and multiple software licenses. In this track, you will learn about the...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do today to safely move to software-defined network and compute architectures, including: How normal ope...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff hap...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
SYS-CON Events announced today that ElasticBox is holding a Hackathon at DevOps Summit, November 6 from 12 pm -4 pm at the Santa Clara Convention Center in Santa Clara, CA. You can enter as an individual or team of up to 10 developers. A New Star Is Born Every Month! All completed ElasticBoxes will then be sent to a judging panel - 12 winners will be featured on the ElasticBox website in 2015. All entrants will receive five full enterprise licenses for one year + ElasticBox headphones + Elasti...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Cloud services are the newest tool in the arsenal of IT products in the market today. These cloud services integrate process and tools. In order to use these products effectively, organizations must have a good understanding of themselves and their business requirements. In his session at 15th Cloud Expo, Brian Lewis, Principal Architect at Verizon Cloud, will outline key areas of organizational focus, and how to formalize an actionable plan when migrating applications and internal services to...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments.
SYS-CON Events announced today that Calm.io has been named “Bronze Sponsor” of DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Calm.io is a cloud orchestration platform for AWS, vCenter, OpenStack, or bare metal, that runs your CL tools puppet, Chef, shell, git, Jenkins, nagios, and will soon support New Relic and Docker. It can run hosted, or on premise and provides VM automation / expiry, self-service portals,...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, will focus on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud pla...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
Blue Box has closed a $10 million Series B financing. The round was led by a strategic investor and included participation from prior investors including Voyager Capital and Founders Collective, as well as the Blue Box executive team. This round follows a $4.3 million Series A closed in December of 2012 and led by Voyager Capital. In May of this year, the company announced general availability of its private cloud as a service offering, Blue Box Cloud. Since that release, the company has dem...
SYS-CON Events announced today that Verizon has been named "Gold Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Verizon Enterprise Solutions creates global connections that generate growth, drive business innovation and move society forward. With industry-specific solutions and a full range of global wholesale offerings provided over the company's secure mobility, cloud, strategic network...
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...