ADP Wilco has added Schlussnoten matching application to its back office securities processing system.
It interfaces with the German exchanges’ trade processing system (Xontro) and automates the reconciliation and matching of trades executed on the various German exchanges and on Xetra.
ADP Wilco says it is particularly well-adapted to the unique German floor-specific processing, such as delayed executions (known as Aufgaben and Weitergaben), the resulting chaining and many-to-many relationships between the internal and external representations of the trade. “It provides the operations department with an early, concise and clear view of unreconciled trades with the market,” says an ADP Wilco spokesman.
The Schlussnoten matching application integrates with ADP Wilco’s clearing and back office applications. The new functionality complements ADP Wilco’s established services for tax processing, regulatory reporting, WM Daten and SWIFT bureau processing.
ADP Wilco has worked with Frankfurt-based Alpheus consultants on the design of German-specific clearing and settlement functionality covering interfaces to Xontro, Cascade, EUREX and the central counterparty.