Financial Daily from THE HINDU group of publications
Friday, Mar 19, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 19, 2004 |
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Info-Tech
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Outsourcing ADP Wilco arm in pact with Williams de Broe Our Bureau
Hyderabad , March 18 WILLIAMS de Broë, the London-based stockbroking subsidiary of ING Belgium, has signed a seven-year outsourcing agreement with Automatic Data Processing, Inc., a subsidiary of ADP Wilco. The agreement will make Williams de Broë the first user of the ADP Wilco's single-solution outsourcing service for both institutional and retail securities transaction processing, utilising its integrated processing platform from ADP's data centre in North America. ADP Wilco's bureau service will handle all aspects of international equity and fixed income processing for Williams de Broë's UK-based institutional brokerage operation, and support trading in over 20 markets. Processing will include trade capture, confirmation, position management and settlement, including two-way real-time connectivity with Euroclear, CREST, Oasys, TRAX and SWIFT. For Williams de Broë's UK-based international private client operations, the ADP Wilco platform is expected to handle the firm's nominee services for both advisory and discretionary business lines.
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