XSP Accredited with SWIFTReady Gold Corporate Actions Label for 2007 in Conjunction with Microsoft BizTalk Accelerator for SWIFT

LONDON, UK. – 3 October 2007 – XSP, the leading global provider of corporate actions software, announced today that the company’s flagship product, XSP™ v5, has been accredited with the SWIFTReady Gold Corporate Actions Label for 2007 in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Gold Financial Enterprise Application Integration (EAI) 2007 awarded product. With this certification, XSP continues its leadership in providing clients with a robust and innovative platform for end-to-end automated corporate actions processing.

By recognising XSP with its highest level of certification for interoperability, SWIFT has validated that the XSP v5 solution, utilising Microsoft BizTalk Accelerator for SWIFT, adheres to a strict set of criteria linked to the support of SWIFT messages and functionality for an area of securities processing that has long been considered one of the most challenging and high-risk operations for financial institutions. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s requirements.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step in the processing of corporate actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilising Microsoft .NET components and web services for global enterprise-wide processing. A SWIFTReady-labelled application, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).

“XSP has established itself as a strong partner with SWIFT, helping global financial institutions maximise the operational efficiencies associated with corporate actions processing,” said Herve Valentin, Partner Solutions and Business Development Manager, SWIFT. “In achieving our highest level of certification, XSP has proactively demonstrated its ability to meet the latest standards offered by SWIFT. We are pleased to award XSP with the SWIFTReady Gold Corporate Actions Label and look forward to continue working with them to deliver best market practices to the global financial industry.”

Microsoft’s BizTalk Accelerator for SWIFT enables clients to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping to deliver rapid ROI by reducing the complexity of bilateral communications between institutions. It also provides clients with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.

“Microsoft’s goal is to enable a strong partner ecosystem to provide integrated solutions, supporting SWIFTSolutions and standards,” says Sheida Hadji-Ashrafi, Worldwide Industry Manager, Payments, Microsoft. “Using Microsoft’s cost effective and efficient .NET platform and BizTalk Accelerator for SWIFT, partners such as XSP are developing applications to help financial institutions simplify their infrastructure and connect to SWIFT across one integrated messaging system. XSP’s SWIFTReady Gold Corporate Actions Label recognises the work they are doing in this area."

“This certification is yet another significant milestone in the continuing growth of our organisation and the development of our product and service offerings,” said Dan Retzer, Managing Director and Chief Technology Officer at XSP. “By integrating the XSP v5 solution with Microsoft BizTalk Accelerator for SWIFT, our clients can leverage Microsoft’s advanced technology to support all SWIFT messages and provide comprehensive connectivity interfaces.”

Neil Sheppard, Managing Director and Chief Operating Officer of Europe at XSP, said "We are honoured that SWIFT has awarded XSP with the SWIFTReady label for the third consecutive year. XSP is committed to delivering proven and cutting-edge solutions that address the critical business and technology needs of financial institutions worldwide.”

About XSP
XSP is the leading provider of Corporate Actions automation software for the global financial services industry. Accredited with the SWIFTReady Gold Corporate Actions Label, the XSP platform is SWIFT 15022 compliant and proven to mitigate the operational risks and costs associated with Corporate Actions processing. This leading-edge solution features an extensive workflow module and robust data management tools. XSP’s web-based eTRAN and ISO messaging modules automate the client notification and response capture and reconciliation of elections on complex Corporate Actions events. The XSP Entitlement Management module completes the Corporate Actions processing lifecycle for true end-to-end STP. With over 60 global clients, the XSP software is the most widely-implemented Corporate Actions solution in the world. For more information, please visit us at www.xsp.com.