Advertisment

HKEx, Wilco announce new outsourcing service

author-image
CIOL Bureau
Updated On
New Update

HYDERABAD: Hong Kong Exchanges and Clearing Ltd. (HKEx) and Wilco

International Ltd., a wholly owned subsidiary of Automatic Data Processing, Inc.

with its development facility based at Hyderabad, has announced that both the

entities have agreed to form a joint venture to provide securities markets'

transaction processing services.



The joint venture will provide Brokers’ Electronic Support Services (BESS) to
HKEx's Stock Exchange Participants. BESS will facilitate seamless

straight-through transaction processing (STP).






"HKEx is pleased to partner with ADP Wilco to offer our Stock Exchange
Participants an opportunity to outsource their back office IT processing to a

centralized service bureau. BESS will bring greater operational efficiency to

market participants through its superior processing capabilities. Furthermore,

the cross-border capability of BESS will also help our participants to provide

better and more streamlined service to their domestic and overseas

clients," said Kwong Ki-chi, chief executive of HKEx.


tech-news