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Anvil and ADP to bring seamless STP to US repo desks

19 June 2006, New York, London: Anvil Software and ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE: ADP), today announced a joint product initiative to provide the most comprehensive straight-through-processing solution for US domestic repo and securities finance on the market.

The new initiative will work on the seamless integration of Anvil’s ARTS suite of front- and middle-office trading tools with the ICI/ADP impact back-office system, enabling mutual customers to reap the benefits of full STP.

Commenting on the initiative, Phil Buck, CEO, Anvil North America said, “As the leaders in our respective fields, Anvil and ADP are the natural choices for serious repo and securities finance participants. This initiative will make that choice clearer still by ensuring that North American repo desks are able to install Anvil ARTS, confident of seamless integration, lower implementation costs and faster project realisation.”

J. Michael Hopkins, General Manager, ICI/ADP added, “We have successfully worked with Anvil on customized integration of our products at numerous client sites. This initiative builds on that relationship, enabling us to service more efficiently the growing demand for Anvil/ADP-based STP solutions in the repo and securities finance markets.”

Anvil has mapped ARTS trade ticket specification to ICI/ADP message formats and developed an interface module between ARTS and the ICI/ADP impact fixed income transaction processing system. The module handles:

- Real-time trade ticket feed from ARTS to impact covering mid-life events such as reprices, partial returns, call/close
- Initial trade upload from impact including historic mid-life events
- Security static upload from impact
- Triparty ticket feed
- Position upload from impact

In addition, Anvil and ADP will take a pro-active role in client site integration projects, thus alleviating some of the project management burden associated with attempting to co-ordinate multiple system vendors.

Anvil’s North American client base includes Mizuho, Bank of America, ING, ABN Amro, RBC and others.