July 7, 2012, International Securities Services

Brokerage Cantor Fitzgerald will switch from using an enterprise wide licensed software package from XSP to automate its corporate actions processing to a new software as a service offering.

XSP describes the just released XSPrisa as a lighter, more agile cloud-based offering that allows clients to pay for only the data they use in their application. The result: lower cost and no worries about the load and operational risk of managing an enterprise wide product. The SaaS will be deployed in Cantor Fitzgerald's New York and London offices.

"We selected the XsPrisa product based on its flexible and scale able nature. In this cloud environment we can easily ramp up and down," says Thomas Anzalone, director of global operations for Cantor Fitzgerald in a statement issued by XSP. "As our business demands and requirements evolve we needed a solution that was flexible enough to accommodate our global presence, specifically in North America, Europe and Asia. In addition to the rapid implementation of XSPrisa, our decision was driven by our longstanding relationship with XSP's knowledgeable team of corporate actions experts."

XSP says that XSPrisa includes all the functionality of XSP's enterprise V5 software -- the latest version of its licensed software which allows for data scrubbing; workflow management and notification of corporate actions to customers. Cantor Fitzgerald was relying on a previous version since 2006 and was evaluating switching to XSP V5 before deciding on XSPrisa. Officials at Cantor Fitzgerald were unavailable for further comment.

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