ADP Wilco announces new release of its corporate actions platform

ADP Wilco, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), has announced the latest release of its new Java-based platform for corporate actions, UPM Corporate Actions.

The new release is available from Q3 2003, and includes new SWIFT messaging capabilities, together with extended, broad coverage for the processing of corporate action income events.

The platform’s new SWIFT messaging capabilities comprise a real-time two-way interface to the SWIFT network that handles all SWIFT corporate actions messages. This includes support for all notifications from custody agents, confirmations, agent election instructions, settlement and advice messages within SWIFT’s message range of MT564-MT568.

Support for corporate action events has been extended through increased support for income events including a range of coupon events, dividend events and dividend reinvestment plans. This augments the UPM Corporate Actions platform’s already extensive range of events which includes benefit events, re-org events, expiry events, notification only events, voluntary and optional events, take-over events and subscription events. Associated tax calculations have also been added for the new events.

"Our new corporate actions platform offers comprehensive advanced business functionality that can significantly reduce operational risk while improving business control," said Amanda Fisher, Product Manager, ADP Wilco. "We are proud to be announcing this latest extension to its capabilities."

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