Email Contact Phone Company Visit Website

New York, USA Office

605 Third Avenue
New York
NY
US

Boston, USA Office

320 Congress Street 7th Floor
Boston
MA
US

New Jersey, USA Office

2 Journal Square Plaza
Jersey City
NJ
US

Denver, USA Office

4725 Independence Street
Wheat Ridge
CO
US

Toronto, Canada Office

4 King Street West
Toronto
CA

London, UK Office

193 Marsh Wall
London
GB

Frankfurt, Germany Office

Mainzer Landstraße. 211
Frankfurt am Main
DE

Hyderabad, India Office

Adjacent to Cyber Towers, Hi-Tec City, Madhapur,
Hyderabad
Telangana
IN

Hong Kong Office

5th FloorRutonjee HouseRuttonjee Centre11 Duddell Street
Central
HK

Tokyo, Japan Office

10/F Kojimachi KS Square5-3-3 Kojimachi, Chiyoda-ku
Tokyo
JP

Sydney, Australia Office

Mezzanine Suite 150 Margaret Street
Sydney
AU

White Plains, NY USA Office

10 Bank Street, Suite 880
White Plains
NY
US

Singapore Office

8 Robinson Road# 09-00 ASO BuildingSingapore 048544
Singapore District
SG

South Africa Office

8th Floor, Fredman Towers13 Fredman DriveSandown 2196South Africa
Johannesburg
ZA

Mississauga, Canada Office

5970 Chedworth Way
Mississauga
CA

Czech Republic Office

Trojanova 18120 00 Prague 2
Prague
CZ

Headquarters Head Office

5 Dakota Drive
Lake Success
NY
US

Amsterdam Office

Unit 1AJ Ernststraat 199
Amsterdam
NL

Telephone

+44 207 551 3000

Contact

Marketing
[email protected]
Back to all Broadridge Financial Solutions announcements

WestLB AG extends outsourcing agreement with ADP for European and Asian securities operations

ADP Brokerage Services Group (ADP), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that WestLB AG has commenced live operations on ADP Wilco’s Gloss outsourcing platform for its UK-based international equities operation and for its Asia Pacific debt and equity operations. The UK-based equities operation supports 17 legal entities servicing customers across approximately 100 markets, and the Asia Pacific operations support trading from Singapore, Hong Kong and Japan in both domestic and international markets.

This further extends WestLB’s use of the Gloss outsourcing service, which commenced in 2002 for the processing of WestLB’s UK-based international fixed income and repo operations. WestLB now processes both its UK-based equity and debt business lines, together with its Asia Pacific operations, all on a single, centralised Gloss platform which handles multi-entity processing across multiple time zones.

"By outsourcing our UK and Asia Pacific processing onto a common platform, we have improved our operational efficiency," said Lawrence McLaughlin, Managing Director Back Office for WestLB AG in London. "We are also benefiting from an STP rate in the high 90 percentile which significantly reduces our risk while improving back office efficiency," he added.


The Gloss outsourcing service handles the automated capture of executed trades, position management and settlement, including two-way real-time connectivity with CREST, Euroclear, SWIFT and TRAX. Proactive workflow management is provided throughout the transaction lifecycle.

"We are extremely proud of our growing relationship with WestLB, and of our ability to deliver real value to their international operations," said Elizabeth Lake, CEO, ADP Wilco.

WestLB also uses other ADP outsourcing solutions including ICI/ADP’s impact for fixed income processing in North America and ADP’s Brokerage Processing Services (BPS) platform for North American equities. It also uses the ADP Investor Communication Services division to handle its confirmations, statement distribution and prospectus delivery as well as proxy and reorg solutions.