|By PR Newswire||
|December 3, 2012 08:01 AM EST||
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.
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industry advances in automating the investment lifecycle, traditional global corporate actions processing remains outdated and is often labor-intensive, tending to result in outcomes prone to errors and inaccuracy," said Susan Certoma, President, Brokerage Processing Services,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.
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.
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.
Kelly M. Howard
SOURCE Broadridge Financial Solutions
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
May. 24, 2015 06:30 AM EDT Reads: 5,402
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
May. 24, 2015 05:00 AM EDT Reads: 2,110
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
May. 24, 2015 05:00 AM EDT Reads: 4,178
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
May. 24, 2015 05:00 AM EDT Reads: 4,580
The Workspace-as-a-Service (WaaS) market will grow to $6.4B by 2018. In his session at 16th Cloud Expo, Seth Bostock, CEO of IndependenceIT, will begin by walking the audience through the evolution of Workspace as-a-Service, where it is now vs. where it going. To look beyond the desktop we must understand exactly what WaaS is, who the users are, and where it is going in the future. IT departments, ISVs and service providers must look to workflow and automation capabilities to adapt to growing demand and the rapidly changing workspace model.
May. 24, 2015 04:30 AM EDT Reads: 3,047
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
May. 24, 2015 04:00 AM EDT Reads: 4,738
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
May. 24, 2015 04:00 AM EDT Reads: 4,281
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
May. 24, 2015 03:30 AM EDT Reads: 3,807
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
May. 24, 2015 03:00 AM EDT Reads: 2,328
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
May. 24, 2015 03:00 AM EDT Reads: 2,808
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 happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
May. 24, 2015 03:00 AM EDT Reads: 5,616
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of...
May. 24, 2015 02:30 AM EDT Reads: 4,183
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
May. 24, 2015 02:30 AM EDT Reads: 4,710
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
May. 24, 2015 02:00 AM EDT Reads: 6,030
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
May. 24, 2015 01:30 AM EDT Reads: 5,237
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
May. 24, 2015 01:15 AM EDT Reads: 6,037
For years, we’ve relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today’s modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack. In his session at @ThingsExpo, Dhiraj Sehgal from PLUMgrid will discuss what a holistic networking solution should really entail, and how to build a complete platform that is scalable, secure, agile and automated.
May. 24, 2015 01:00 AM EDT Reads: 4,098
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
May. 24, 2015 01:00 AM EDT Reads: 4,981
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS solutions that provide a Hadoop flavor either make choices for customers very flexible in the name of opti...
May. 24, 2015 12:30 AM EDT Reads: 3,494
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
May. 24, 2015 12:00 AM EDT Reads: 4,070