Two investment firms have already made commitments to use ADP Wilco’s new retail outsourcing service.
The new outsourcing service enables fast-track access to Tarot, and provides STP throughout the trade lifecycle from order capture through settlement, accounting, cash management, tax reporting and asset servicing. It supports an extensive range of international instruments and products including equities, fixed income, collective instruments such as unit trusts, and tax efficient products including ISAs and PEPs. Tarot also supports a broad range of corporate actions events.
"We are fully committed to delivering world class standards of service through our outsourcing services, and have made a significant investment in this latest initiative for our Tarot platform," said Elizabeth Lake, Chief Executive Officer, ADP Wilco. "Our pricing model is based on the volume of transactions processed, making Tarot’s market leading functionality more accessible to lower volume operations while also, through its proven scalability, being aligned to the outsourcing strategies of firms processing high volumes."
Tarot is now fully installed at ADP’s data centre, with communications to user firms available through either proprietary or leased lines.
ADP Wilco’s market leading institutional platform for global securities processing, Gloss, is also supported centrally through the ADP data centre. It was launched as an outsourcing service in 1999 and now supports 12 multi-market operations.
