ADP Securities Industry Software (ADP/SIS) has extended the functionality of its real-time securities transaction processing platform to include support for security futures.
The ADP/SIS platform now allows users to enter and route orders for both single stock and index futures via the vendor's order management system (OMS).
After the order is executed, users can perform mark-to-market calculations, margin analysis, settlement activities and accounting functions for all security futures trades within the framework of ADP/SIS's straight through processing (STP) Brokerage Accounting System (BAS).
In addition, Posse, the vendor's browser-based broker desktop application now allows sales executives to place and review security futures orders in real time.
David Swift, senior vice president and general manager of ADP/SIS, says: "Many firms are interested in trading single stock futures, but they are reluctant to add a separate processing system in order to trade these instruments."
ADP/SIS says BNP Paribas Brokerage Services will be first to use its security futures processing system.