Wills & Co will move away from its incumbent supplier as part of the project that will realise increased operational control and real-time visibility into the settlement lifecycle via a single integrated platform. The OMX Securities solution will ensure that Wills & Co achieves effective cost control by providing predictable and transparent pricing.
The full front-to-back automation of the clearing and settlement process will reduce the need for manual intervention and re-keying, leading to increased STP capabilities. By outsourcing this part of its stockbroking business to OMX Securities, Wills & Co will benefit from reduced errors, greater risk control and a quick return on investment.
Robert Holgate, CEO, Wills & Co commented: âThe OMX Securities solution has proven itself as the best fit for the needs of our business. With OMX Securities we are guaranteed a robust and flexible solution that will grow as we undertake the planned expansion of our retail stockbroking operation.â
Angus MacDonald, CEO, OMX Securities added: â2006 has been a record year for OMX Securities, with Wills & Co representing the tenth new client to sign since the start of the year. This significant growth of our customer base is a solid endorsement of OMX Securities position as the supplier of choice for efficient clearing and settlement solutions.â