US financial services firm Edward Jones has signed a new seven-year contract to use ADP Wilco's retail stockbroking system, Tarot, at its UK offices.
Under the extended contract, Edward Jones will continue to use Tarot across its centralised UK back office operations for the processing of international and domestic equities and collective instruments such as ISAs.
Earlier in 2003, Edward Jones extended its use of the Tarot platform to include order placement functionality for principal processing in order to provide its UK clients with access to corporate and government bonds.
The retail stockbroker has been using ADP's software and services for more than 20 years and signed a multi-year contract in 2002 to continue outsourcing its North American securities transaction processing to the vendor.