Wilco has developed a two-way interface between its retail and private client stockbroking system, Tarot, and its institutional trade processing and settlement system, Gloss.
The company says the new interface will benefit brokers using Tarot for international trades, by enabling them to benefit from the Gloss system’s real-time two-way connectivity to international clearing and settlement services, either directly or through the SWIFT network. International clearing and settlement interfaces include Euroclear, CCASS and JASDEC. SWIFT connectivity includes ISO 15022 messaging.
Tarot already includes established international processing capabilities for order processing, client valuations and client cash settlement, with custodian connectivity for market settlement. The additional external connectivity via Gloss is available on an outsourcing basis or on-site.
“This new interface further demonstrates our strategy to enable clients to increase their service and cost competitiveness in the global retail markets,” says Amanda Fisher, product manager at Wilco International.