Automatic Data Processing, Inc. (NYSE: ADP) subsidiary ADP Wilco has released its new ITS Adapter to customers in Australia. The Adapter provides direct host-to-host connectivity between ADP Wilco’s Australian broker client accounting system, SUMMIT, and the Australian Stock Exchange’s (ASX) new Integrated Trading System (ITS).
The SUMMIT ITS Adapter, which has passed ASX qualification testing, was delivered to ADP Wilco clients in March 2006. The ASX ITS will replace the current ASX SEATS (Stock Exchange Automated Trading System), which is due to be retired in October 2006.
In addition to the SUMMIT ITS Adapter, a new release of the SUMMIT system now also provides a front to back integrated broking solution from a single instance of SUMMIT through a new SUMMIT Order Pad facility.
The SUMMIT Order Pad provides vetting and validation before sending orders to market. Orders can be vetted electronically or manually according to user requirements. It will be of particular interest to retail or full service brokers wanting to improve operational efficiencies and grow their business in the current market.
“The SUMMIT ITS Adapter and Order Pad developments are further examples of ADP Wilco providing advanced solutions to meet critical business requirements” said Jessie Pak, Managing Director, ADP Wilco Asia Pacific. “We feel that this development will add significant benefit to our clients in terms of speed to market and reliability.”