ADP Wilco adds FIX order processing for its Tarot system

ADP Wilco, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), has announced a new FIX messaging interface for its UK and cross border retail processing platform, Tarot. It will enable Tarot’s retail brokerage users to interface with front office systems by using industry standard FIX messaging.

The interface provides fully automated real-time two-way FIX message processing for straight orders and portfolio rebalancing transactions, and matches outbound and inbound messages with a common reference. It can connect through a common API to any FIX-compliant fund management or trading system and provides message reconciliation, multi-fills and splitting.

Orders received on Tarot can be routed directly to the appropriate Retail Service Provider (RSP) or order book for execution.

Amanda Fisher, ADP Wilco’s product manager for Tarot said: "FIX continues to emerge as a standard, helping to reduce costs and increase ease of implementation. Its increased adoption within the industry is now impacting and benefiting retail brokers and service providers."

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