Press Release Summary:
SWIFT Service Bureau order processing solution provides order entry and capture, execution control, status control and order response mapping in SWIFT ISO 15022 messages. It can connect directly with user firm's trading platform to enable full STP to the point of execution and validate order prior to execution. Client-facing displays can be fully branded to corporate requirements.
Original Press Release:
ADP Wilco Announces New Order Processing Solution through its SWIFT Service Bureau
ADP Wilco, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), has announced the addition of an order processing solution to its Germany-based SWIFT Service Bureau. The solution enables brokers to offer seamless order processing, using the SWIFT network, to their clients such as asset managers and financial advisors. It also enables asset managers to initiate orders through their financial advisors.
The order processing solution provides order entry and capture, execution control, status control and order response mapping in SWIFT ISO 15022 messages which include message types MT502, 509, 513 and 515. It can connect directly with the user firm's trading platform to enable full STP to the point of execution. Orders are validated by the order processing solution prior to execution. Client-facing displays can be fully branded to corporate requirements.
"This new service enables brokers to improve their order processing efficiency and reduce costs, and also facilitates business expansion both through the ability to scale and by improving access for new clients from other geographical regions," said Volker Wombacher, product manager for ADP Wilco's SWIFT Service Bureau. "The service should prove particularly attractive to brokers that administer SWIFT Closed User Groups (CUGs) for their clients."
The ADP Wilco service has already been delivered to a German bank.
About ADP Wilco
ADP Wilco is an international software and services provider, specialising in solutions to support institutional and retail STP operations and outsourcing. It is represented globally through its regional offices in London, New York, Toronto, Hong Kong, Tokyo, Frankfurt, Geneva, Sydney and Hyderabad. ADP Wilco is a wholly owned subsidiary of ADP. For further information email firstname.lastname@example.org or visit adpwilco.com.
As the premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing solutions for straight through processing and World Class Service.
ADP, with $7.8 billion in revenues and approximately 550,000 clients, is one of the largest independent computing services firms in the world. For more information about ADP Brokerage Services Group, please visit our web site at www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.