ADP Wilcoâs solution has been developed in response to Japanâs newly established JGBCC service for the clearing operations of Japanese Government Bonds traded in the OTC market. The JGBCCâs clearing service will include central counterparty settlement and netting, and will facilitate trade matching via the JASDEC Pre-Settlement Matching Service. The JGBCCâs service is scheduled to commence operations in May 2005.
The ADP Wilco solution for the JGBCC service is based on ADP Wilcoâs international market-leading Gloss processing platform. It handles all aspects of trade lifecycle processing from trade capture including communication with JASDEC and JGBCC, the tracking of matching statuses, settlement instruction generation and status updates, trade netting and splitting, and next-day margin call requirements for additional funding or return of excess funds.
"We remain fully committed to the timely delivery of new functionality to support advancements in the Japanese market infrastructure, and our JGBCC solution is the latest manifestation of this commitment," said Jessie Pak,
ADP Wilco announces new JGBCC solution managing director, ADP Wilco Asia Pacific. "This new solution augments our previous developments that include functional support for Japanese margin trading, New Gensaki repo operations, JASDEC Pre-Settlement Matching and the Tokyo Stock Exchangeâs DVP processing."
One of Japanâs leading securities companies has already signed an agreement to use ADP Wilcoâs new JGBCC solution for its Japanese Government Bond operations.