ADP Power Securities Systems (ADP PSS), a unit of A DP’s Brokerage Services Group announced today the launch of the new ASP version of PowerClear, its securities transaction processing system. The ASP product is named webPowerClear and it includes new functionality in margin and correspondent clearing.
webPowerClear is a full service, real-time multi-currency, back-office processing engine built on modern technologies and component architecture. The new system is browser-based and can be delivered via Intranet or Internet. Its three-tier architecture uses the latest Java technology.
webPowerClear’s new functionality for margin processing includes support for options trading for investment clients and day traders. The new correspondent clearing module is easier to administer, and allows greater flexibility and control for correspondent clearers.
“We’re excited about the new technology and that we can now, as part of the ADP family, offer this technology to our client base on a service bureau basis,” says Bob Victor, co-head of ADP Power Securities Systems.
ADP PSS serves several national niche market firms processing a variety of securities instruments such as equities, municipal bonds, and corporate bonds. The system is available on a license or outsourced basis. The ASP model will be hosted in ADP’s data center in Denver.