Broadridge Investor Relations
2006 News Releases
Panmure Gordon Renews Outsourcing Service Agreement
With ADP for International Securities Processing
Press enquiries to:
Mike West
ADP Brokerage Services Group
+44 (0)20 7551 3224
LONDON, England -- July 3, 2006 -- ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that stockbroker Panmure Gordon & Co has signed a new agreement to continue its use of ADP's international service bureau based on the Gloss system.
Under the new agreement, Panmure Gordon, an established user of Gloss, will continue its use of the system on an ASP outsourcing basis for its UK and international equity processing. "We reviewed a range of systems as part of an in-depth selection process, and chose to continue with ADP due to their proven track record in the ASP outsourcing arena and their delivery of a highly functional and reliable product in Gloss. ADP continues to provide high standards of service and customer service," said Nick Cook, Head of Operations, Panmure Gordon.
Gloss handles Panmure Gordon's back office trade processing cycle and provides high levels of STP from trade capture through confirmation, settlement, position management, profit and loss calculation and general ledger processing. Panmure Gordon is using STP Explorer, the Gloss system's real-time exception management system, to ensure control of STP workflow and minimise operational risk.
"We are delighted to continue our successful relationship with Panmure Gordon through our Gloss service," said Elizabeth Lake, Chief Executive Officer, ADP Wilco. "We remain fully committed to delivering substantial business value through our investments in product leadership and the delivery of world class standards of service."
About ADP Brokerage Services Group
As a premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing solutions for straight through processing and World Class Service.
ADP, with over $8.0 billion in revenues and more than 600,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. For more information about ADP Brokerage Services Group, please visit our web site at www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.
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