Xcitek Partners with TAP to Enhance Corporate Actions Data Management

NEW YORK — April 25, 2005 — Xcitek, the leading global provider of corporate actions automation, market data solutions, and operational staffing services, has partnered with TAP Solutions to take advantage of the turnkey feed acquisition and deployment capability of the TAPMaster data management platform. TAP is building a feedhandler to load Xcitek’s Corporate Actions and Municipal Actions Data covering stock splits, stock dividends, bankruptcies, mergers, spin-offs, distributions, name changes, tender offers, redemptions, and both mandatory and voluntary exchange offers.

"The addition of Xcitek to our feedhandling library extends the comprehensiveness of TAPMaster’s data coverage, and speed in which the product can acquire and deploy data across the enterprise," said Marc Alvarez, TAP’s EVP Products & Marketing. "Corporate actions are time sensitive, and TAPMaster can deliver that data, along with all other market and reference data first time, on time, every time."

TAPMaster is a complete data management platform that automates the collection of vendor and internal data feeds, standardizes the content based on a comprehensive cross-asset data model, and stores the records from those sources side by side in a relational database. TAPMaster delivers the data to desktops and other applications using industry standard interfaces including SQL, ODBC, and .NET.

For the tenth consecutive year, Xcitek has been identified as the market leader by operations professionals – as compiled by The Summit Group and Securities Operations Forum – for its comprehensive corporate actions data including: bulk data for North American fixed income & equity securities as well as online data for North American fixed income & equity securities. Xcitek joins a burgeoning partner program at TAP, with feedhandlers already available for Bloomberg, FT Interactive Data, Reuters, Standard & Poor’s, DTCC, Morningstar, Wall Street Concepts and Telerate data products.

"We are excited to enter into this strategic partnership with TAP Solutions to enhance the deployment of our data solutions," said Charles W. Price, Senior Vice President at Xcitek. "TAPMaster and Xcitek will provide our mutual clients with the perfect combination of accuracy and stability necessary to meet the compliance and cost requirements in today’s STP environments."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development