Anvil And ADP Combine To Promise US Repo Desks Higher Levels Of Automation

Anvil Software and ADP Brokerage Services have agreed a joint product initiative designed to increase rates of automation in the US domestic repo and securities financing markets. "As the leaders in our respective fields, Anvil and ADP are the natural

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Anvil Software and ADP Brokerage Services have agreed a joint product initiative designed to increase rates of automation in the US domestic repo and securities financing markets.

“As the leaders in our respective fields, Anvil and ADP are the natural choices for serious repo and securities finance participants,” says Phil Buck, CEO, Anvil North America. “This initiative will make that choice clearer still by ensuring that North American repo desks are able to install Anvil ARTS, confident of seamless integration, lower implementation costs and faster project realisation.”

The new initiative will work by integrating Anvil’s ARTS front- and middle-office trading tools with the ICI/ADP impact back-office system.

“We have successfully worked with Anvil on customized integration of our products at numerous client sites,” says J. Michael Hopkins, General Manager, ICI/ADP. “This initiative builds on that relationship, enabling us to service more efficiently the growing demand for Anvil/ADP-based STP solutions in the repo and securities finance markets.”

Anvil has mapped ARTS trade ticket specification to ICI/ADP message formats and developed an interface module between ARTS and the ICI/ADP impact fixed income transaction processing system. The module handlesreal-time trade ticket feed from ARTS to impact covering mid-life events such as reprices, partial returns, call/close; initial trade upload from impact including historic mid-life events; security static upload from impact; tri-party ticket feed; and position upload from impact.

In addition, Anvil and ADP are promising a “pro-active” approach to client site integration projects, in an effort to alleviate some of the project management burden associated with attempting to co-ordinate multiple system vendors.

Anvil’s North American client base includes Mizuho, Bank of America, ING, ABN Amro, and RBC.

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