New York, NY – August 9, 2004 – ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that Mizuho Securities USA has signed a multi-year agreement to outsource its fixed-income trade processing to ICI/ADP, using its impact™ solution. ICI/ADP’s signature product, impact, is a flexible, integrated online securities transaction processing system that handles all aspects of a fixed-income trading operation.
Mizuho Securities USA selected impact for its real-time processing capabilities and its flexibility to handle foreign and domestic fixed-income instruments including mortgage-backed securities. The impact product optimizes workflow efficiency and facilitates new reporting requirements facing the financial community today.
ICI/ADP and Mizuho Securities USA have successfully completed installation. “The hard work and dedication of the ICI/ADP team along with the MSUSA conversion team made it a seamless installation and solidified my confidence in ICI/ADP,” said Don Galante, Chief Operating Officer, Mizuho Securities USA “impact’s real-time processing capabilities, product breadth, and extensive functionality were key factors in our decision,” he continued.
“Mizuho’s decision to choose us as their outsourcing provider increases the percentage of primary dealers outsourcing their Fixed Income process with ICI/ADP solutions to 92%,” said Doug Politi, Senior Vice President and General Manager, ICI/ADP. “We are excited about providing Mizuho with our fixed-income processing solution and look forward to a long-standing relationship. impact will enable Mizuho to consolidate processing and improve operating efficiencies.”
impact provides trading support for all major fixed-income securities, including foreign debt instruments, mortgage-backed and asset-backed securities. Its straight through processing capabilities provide deal capture and editing facilities, constant tracking of the effects of market changes on positions, on-line pricing, and an integrated collateral management and funding module. All this information flows seamlessly to back office operations including a customizable general ledger and regulatory compliance reporting.
ICI/ADP provides fixed-income trading capabilities to the securities industry. With more than 25 years’ experience in fixed-income ICI/ADP continues to deliver the most competitive tools to meet your business needs and fulfill the requirements of the fixed-income industry. |
