Wilco and HKEx launch back office outsourcing venture
11 November 2002 | 3623 views | 0
The Hong Kong Stock Exchange and back office vendor Wilco International have jointly launched Wilco International Processing Services, a new service for the outsourcing of securities transaction processing for firms based in Asia Pacific.
The partners say the Gloss STP Bureau will provide a full straight-through processing infrastructure from a secure data centre.
The Bureau is equipped to process both domestic and international securities from trade capture to settlement, and includes local market connectivity to Ccass for Hong Kong settlement. To facilitate STP for cross-border trading, connectivity to international services including Euroclear and ISO 15022 Swift messaging is also included.
The outsourcing service is built around Wilco's securities processing and settlement engine, Gloss. Local market functionality for margin control, corporate actions and financial resources requirements (FRR) has been added to the Burea as standard.