Wilco connects its institutional and retail transaction processing systems
Wilco International, a subsidiary of Automatic Data Processing, Inc. has developed a two-way interface between its retail and private-client stockbroking system, Tarot, and its institutional trade processing and settlement system, Gloss. The interface enables Tarot users to benefit from the Gloss system's real-time two-way connectivity to international clearing and settlement services, either directly or through the SWIFT network. International clearing and settlement interfaces include Euroclear, CCASS and JASDEC. SWIFT connectivity includes ISO 15022 messaging.
Skandia Selects SolutionForge's FIX.NET Server 2002 for Automated Link to EMX
Skandia, a UK-based financial-services group, has selected SolutionForge, a UK-based provider of financial straight-through processing solutions for its FIX server. The product called FIX.NET Server 2002 will enable automated trade processing between its back office and clients. Trade processing will be enabled via the Electronic Message Exchange (EMX) fund-trading network.The link to EMX that FIX.NET Server 2002 will provide is due to go live next year. This will improve the efficiency with which Skandia trades with UK fund groups by removing manual processes and creating true Straight-Through Processing (STP). Automation will also enable Skandia to benefit from reduced exposure and improvements in the quality of its operations by freeing staff time to concentrate on core activities. Skandia hopes to eventually migrate the majority of its daily trade volume onto the EMX platform.
Wall Street & Technology is holding a Drilling Down on STP conference on November 20 at the Roosevelt Hotel in NYC. Some of the topics that will be discussed include: Outsourcing, Cleaning up Reference Data, Exception Management and The Vitrual Matching Utilities. To hear industry executives share their STP successes and lessons learned, register for the event at www.wallstreetandtech.com/events/stp3