ADP and JDV enter global alliance to provide financial securities processing capabilities worldwide

Business Wire,  May 30, 2000  

• E-mail
• Print
• Link

Business Editors

ROSELAND, NJ--(BUSINESS WIRE)--May 30, 2000

Automatic Data Processing, Inc. (NYSE: AUD), announces that its second largest division, ADP Brokerage Services Group (`ADP') has entered into a partnership agreement with JDV, Australia's leading provider of end-to-end branded on-line retail financial services. According to the agreement, ADP will become JDV's global transaction processing partner, and in turn, JDV will globally become an ADP development partner.

As the leading outsourcing vendor for financial transaction processing, ADP is leveraging its best-of-breed products through its Global Processing Solution to provide competitive, cost-effective services across all financial asset classes, including fixed income, foreign exchange, equities, commodities and derivatives, to its clients worldwide. ADP currently provides securities processing and settlement services in North America, Europe and Asia Pacific. The Global Processing Solution is a fully-automated and real-time international trade processing system that supports all aspects of transaction processing from deal capture and reporting, to clearance and settlement. International securities transactions are efficiently processed in real-time through automated links to international exchanges and agencies such as EuroClear and Crest.

A key component of ADP's Global Processing Solution is Gloss, the international securities processing system provided by Wilco International, a wholly owned subsidiary of ADP. JDV will use Gloss for their global securities processing.

According to John Hogan, Co-President of ADP Brokerage Services Group, "We are very happy to partner with a well-respected, technologically savvy financial services organization that will provide ADP with the ability to support its clients with a turnkey Internet solution in the Australian and New Zealand marketplaces as well as new markets around the world. This partnership enables our clients --- global banks and brokerages --- to expand their market coverage while relying on ADP for the infrastructure and processing power to support their globally expanding businesses."

Tim Moore, JDV's chief executive officer, stated "For JDV to develop its full potential we needed an alliance with a business that understands securities processing on a global basis and one that has the financial strength to support the global processing requirements for top tier global financial institutions. As the largest financial transaction outsourcing firm in the world, ADP has a proven track record of providing straight-through-processing services to global financial institutions along with a strong focus on both customer service and the application of technological advancements."

Hogan continued, "We are extremely excited to be supporting JDV and we are looking forward to assisting them with building on their leadership position in this rapidly growing global marketplace. More and more financial services businesses are looking to provide their clients with online facilities to perform investing and trading activities in any market and in any time zone. Together, JDV and ADP are well positioned to provide a state-of-the art global platform for end-to-end solutions. I am delighted to appoint JDV as an ADP development partner and am optimistic about the opportunities that will come from our businesses working together."

About ADP

Automatic Data Processing Inc. has over US$6 billion (A$10 billion) in annual revenues and is one of the largest independent computing services firms in the world with over 450,000 clients. ADP provides computerized transaction processing, data communications, software, and information services to companies in virtually every industry.

As the premier provider of transaction services to the financial industry, ADP Brokerage Services Group 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 unique solutions for straight through processing and World Class customer service.

ADP continually uses technological advancements to develop innovative products that meet the long-term business needs of its clients. As a leading outsourcing vendor, ADP is leveraging its position to provide competitive, cost-effective services to its clients worldwide. 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.

About Wilco

Wilco International is a wholly owned subsidiary of ADP. Wilco provides the Gloss securities processing system for brokers, investment banks and custodians. Gloss is available on either a license or service bureau basis. Wilco has offices in London, New York, Hong Kong, Tokyo, Toronto, Geneva and Hyderabad.