Killik & Co outsources settlement and custody to OMX
11 November 2005 | 6340 views | 0
London-based stockbroker and financial planning firm Killik & Co is outsourcing its settlement and custody operations to OMX Securities Services.
Under terms of the agreement, Killik's settlement and custody teams will be transferred to OMX.
OMX says it will provide Killik with model B clearing and settlement services and facilitate the move to electronic statements and contract notes for its clients.
Paul Killik, senior partner at Killik, says the OMX platform "has the capability to support our integrated view of clients' requirements as well as maintain core custody and settlement services".
OMX's Securities Processing Services business provides front-to-back office processing services to retail and institutional brokers in the UK, Nordic and Baltic markets.