Australia's Cameron Stockbrokers has implemented the Summit broker client accounting system from Broadridge Financial Solutions to automate its equities brokerage processing operations.
Broadridge - formerly known as ADP Brokerage Services - says Cameron has signed a multi-year agreement for Summit.
The stockbroker is using the system to automate the processing of equities operations for Australian and international traded securities from trade capture through to confirmation, position management, multi-currency books and records, clearing house reporting and settlement.
The system also provides Cameron with integrated corporate actions processing.
Cameron will also use Summit's suite of service adapters for connectivity to the Australian Stock Exchange (ASX) ITS order processing service, the ASX Chess settlement service and Iress for ETC allocation and confirmation.
Commenting on the implementation, Steven Pritchard, executive chairman, Cameron, says: "When we looked at replacing our existing system, one of the things we looked for was a system based upon Microsoft technologies to enable us to take advantage of the increase in productivity that comes from using a Windows-based system."