New York, NY, September 19, 2005 â Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, today announced that Trust Company of Illinois has selected its Xcitek Class Actionsâ¢ (XCA) service to address the growing burden of tracking and potentially collecting from Securities Class Actions.
"We are delighted that Trust Company of Illinois has chosen to subscribe to XCA," said Charles Price, Senior Vice President at Xcitek. "XCA was designed specifically for financial institutions like Trust Company of Illinois which take seriously their fiduciary and client service activities with regard to Securities Class Actions."
"After a brief trial period, we decided that XCA could help us to better track developments that might impact our clientâs portfolios," said Doug Eyles, Head of Investments at Trust Company of Illinois. "Our commitment to customer service dictates that we go the extra mile and the XCA product addresses an area where we found this difficult and labor-intensive task to do. We thought an investment in this area was in our clientsâ best interest."
Introduced in July of 2005, XCA is a web-based service that helps financial institutions identify, track and collect funds emanating from Securities Class Actions. Updated daily, it draws upon Xcitekâs vast database of Securities Class Actions to allow users to match current or past positions to ongoing litigation. XCA contains features, such as customized watch lists, email alerts and portfolio monitoring, that enable users to stay abreast of developments.