ADP Wilco, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), and WM Datenservice, provider of the most complete data available on German financial instruments, today announced the signing of a new agreement under which WM Datenservice will use ADP Wilco’s SWIFT Service Bureau.
Under the agreement, WM Datenservice will be able to receive and distribute securities reference data messages, with other information providers and custodians, via ADP Wilco’s SWIFT Service Bureau outsourcing service. WM Datenservice is scheduled to commence live operations with the SWIFT Service Bureau in December 2004.
At a later stage, WM Datenservice plans to offer corporate actions notifications over SWIFTNet by using ADP Wilco as its service partner. WM Datenservice was involved in SWIFT’s Market Data Vendor Pilot programme, enabling commercial providers of corporate action announcements to deliver data in the ISO 15022 format via SWIFTNet.
Mr. Georg Eisel, Managing Director at WM Datenservice, said: "After delivering comprehensive, accurate and timely German corporate actions data in the WM proprietary standard, VF1, for the past 30 years we are now in the position to additionally deliver corporate actions in ISO15022 format via SWIFT to a broader and increasingly international audience. This enhancement will support customers’ efforts in achieving STP and process optimisation across our full range of German domestic and international corporate actions”.
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