Wilco to provide UBS Warburg with new platform for global corporate actions

Wilco International, a subsidiary of Automatic Data Processing, Inc (NYSE: ADP), and UBS Warburg have signed an agreement for UBS Warburg to use Wilco’s next generation platform for global corporate actions processing.

The agreement includes UBS Warburg’s usage of Wilco’s corporate actions processing engine across its international operations, supporting its three main processing hubs in Stamford (Connecticut, US), London and Singapore on a 24x7 basis. The agreement also includes the development by Wilco of a new rules-based scrubbing engine for corporate actions data, and interfaces to external services and books and records systems.

The Wilco solution will replace various in-house developed systems, providing a standard Java-based IT platform with scalable high volume capabilities that can support UBS Warburg’s international growth forecasts.

Wilco to provide UBS Warburg with corporate actions platform

Processing within Wilco’s corporate actions engine will include comprehensive workflow management, event capture, entitlement calculation, holder notification, taxation, open item and claims processing and settlement tracking. Wilco will develop new interfaces from its corporate actions engine to UBS Warburg’s in-house books and records systems for Europe and Asia, as well as an interface from its corporate actions engine to ADP’s BPS system for North American books and records. A new adapter will also be developed for global corporate actions messaging via the SWIFT network.

Wilco’s processing for corporate actions will be extended through the development of a new rules-based scrubbing engine that will handle the intake and management of external and internal corporate actions data. The scrubbing engine will receive multiple vendor feeds, compare data elements, identify and validate exceptions and publish announcements to Wilco’s centralised repository, BIX.

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