DST and XSP in alliance 02 July 2012Australia and New Zealand Reporter: Georgina Lavers
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DST Global Solutions has teamed up with XSP to develop a corporate actions solution for investment accounting platform, HiPortfolio.
HiPortfolio’s solution will be offered as a module powered by XSP, after clients expressed desire for improved operational efficiency in corporate actions. The solution will initially be made available in Australia and New Zealand, and is SWIFT 15022 compliant.
Philip Hogan, DST global solutions’ managing director for Asia Pacific, said: “Our joint working relationship with XSP is expected to help reduce costs and risks for third-party administrators and fund managers automating corporate actions such as dividends, mergers and acquisitions and rights issues.”
Geoff Harries, global head of asset servicing at DST Global Solution said: “With the industry striving for greater efficiencies at all stages of the trading life-cycle, corporate actions have been identified as an area for improvement.
“The operational response needs to ensure that visibility and control is maintained and that investment accounting information, coupled with validated market data, is used to present complete, accurate and timely information to other parts of the organisation. I am convinced that the combination of HiPortfolio and XSP will deliver significant operational gains in this challenging area.”
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