Wilco announces ISO 15022 deliveries

Wilco International, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), has announced the global delivery of its ISO 15022 SWIFT solution for the Gloss range of products.

Wilco’s ISO 15022 solution is being delivered on an outsourcing basis through Wilco’s Gloss service bureau, and also on an on-site implementation basis. Delivery is taking place globally across Wilco’s customer base in Europe, North America and Asia Pacific.

The first users have already commenced live operations, with others expected to follow shortly either on a phased implementation plan or single conversion.

The Wilco solution includes an ISO 15022 version of its SWIFT Adapter which provides a real-time, two-way message processing interface connecting host systems such as Gloss with the SWIFT network. In addition, Wilco has comprehensively updated its Gloss trade processing and settlement system for ISO 15022 format messaging. Gloss can now enrich captured trades with a far greater amount of information which in turn can be added to ISO 15022 formatted SWIFT messages.

"Rather than just conduct a re-mapping exercise of existing outputs via our SWIFT Adapter, we have thoroughly addressed ISO 15022 messaging within the Gloss host system. This will benefit our users because the underlying data for any future modifications will already be available in ISO 15022 format, improving speed to market and reducing costs," said Wilco product manager Dr Robin Kneale.

The solution caters for 25 published market practice guidelines (MPGs) for major international markets. "We were proactive in consulting our user base very early in the process, and this has enabled us to develop a comprehensive solution in line with the requirements of a broad spectrum of users that includes both brokerage firms and custodians operating in many of the world’s markets," said Kneale.

Wilco’s ISO 15022 message processing includes the MT540 series of messages for securities settlement, the MT535, 536 and 537 messages for securities statements and the MT200 series of cash messages.

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