Japanese broker Nomura Securities has licensed New York-based Xcitek's XSP software which it will use to automate corporate actions processing at its equities operations.
Nomura will use the system to service clients in the US and in Tokyo.
Under the deal, Nomura will roll out the vendor's Web-based module for automated notifications and response capture processing, eTran. The broker has also licensed the vendor's corporate actions data.
XSP features comprehensive data scrubbing tools along with workflow management modules, Web and ISO messaging for client notification and response capture and complete entitlement processing. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Brendan Farrell Jr, managing partner at Xcitek, says Nomura is the firm's fifth Japanese client.