ADP/SIS Announces Two New Outsourcing Clients
Monday March 24, 8:00 am ET
biz.yahoo.com
WHEAT RIDGE, Colo., March 24 /PRNewswire-FirstCall/ -- ADP Securities Industry Software (ADP/SIS), a division of Automatic Data Processing, Inc.'s (NYSE: ADP) Brokerage Services Group, announced two new outsourcing clients for its securities transaction processing platform. This adds to ADP/SIS' recent signing of five new clients, which brings the total of new client gains to seven in a nine-month period.
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Both of the new firms now use the ADP/SIS real-time, straight-through-processing Brokerage Accounting System (BAS). The two new firms also contracted for ADP/SIS' industry-recognized Order Management System (OMS), POSSE(SM), ADP/SIS' premier browser-based broker desktop application and OLOS, ADP/SIS' fixed-income trading system.
BAS is a real-time online system that automates brokerage accounting and back office functions using parameters to customize the system's features to a firm's unique business requirements. OMS allows firms to receive, enter, route and execute orders quickly, reliably, and cost-effectively. Orders are automatically booked in real-time to the back office.
POSSE(SM) provides sales executives with real-time access to client and product information, portfolio charts and reports, real-time tax lot accounting, quotes, sales and commission calculation tools, and effortless order entry for all types of securities. OLOS provides firms with a real-time inventory management and marketing tool for fixed income securities. Traders can quickly and easily move inventory, while retaining control over price, quantity, and offering terms. Firms can keep up-to-the-second listings of fixed income inventory, so that sales people always have access to the latest information.
Emmett A. Larkin Company, Inc., based in San Francisco, CA, provides Internet online and traditional full service execution, clearing and custody services for brokers, other broker dealers and investment advisors. They recently signed a multi-year contract for OMS and BAS, as well as POSSE and OLOS.
Gordon Hing, President of Emmett Larkin stated, "ADP/SIS' software solutions are an ideal fit for our brokerage processing operations. We look forward to a solid partnership in the years ahead as we continue to grow our business."
Romano Brothers & Co., based in Chicago, IL, serves individuals, foundations, corporations and trusts with investments in common stocks, tax- exempt bonds, government securities, corporate bonds, and mutual funds. This firm recently signed a multi-year contract, and will use ADP/SIS's back office platform as well as OMS, POSSE and OLOS.
According to Dick Romano, Chairman & Co-Founder of Romano Brothers & Co., "The conversion to the ADP/SIS system was well-planned and executed. The post-conversion service has been above and beyond our expectations. We like the structure of the ADP/SIS user groups to handle the looming changes in the securities industry. We think our new partnership with ADP/SIS will give us the strategic tools and support we need to meet our future business development goals."
David Swift, Senior Vice President and General Manager of ADP/SIS commented, "With the addition of these firms, as well as the previously announced new clients, it's clear that our products, service levels and value are being embraced by the industry. We continue to invest in industry-leading enhancements to increase our current clients' competitiveness and productivity. This strategy is attracting new firms who are looking for the most efficient and cost-effective tools in today's challenging market. We welcome our new clients into the ADP family and look forward to serving them." |
