TD Waterhouse ties up with Wilco International

HYDERABAD: TD Waterhouse Group, Inc. (NYSE/TSE: TWE), the global online

financial services firm, has signed a license agreement with Wilco International

Systems to use Wilco’s Gloss system as the integration platform in offering

seamless financial services to its customers worldwide.

Wilco is an international software and services provider, specializing in

solutions to support retail and institutional STP operations, e-brokerage and

outsourcing. Gloss provides comprehensive functionality for global transaction

processing, market standard interfaces and enterprise wide middleware. It is an

integrated real time system for order processing, trade completion, clearing,

settlement and accounting.

TD Waterhouse has international operations in Canada, the UK, Australia, Hong

Kong, Japan and India. The software will be used as part of TD Waterhouse's

overall strategy to provide connectivity to trading systems, exchanges,

settlement agencies and regulatory bodies around the world. TD Waterhouse will

also use the Gloss Order Management module to automate the trade lifecycle from

order capture and trade execution through confirmation, clearing agency

reporting and settlement. Initial implementations are targeted for early 2001.

"TD Waterhouse is a key player in the retail financial services market

and currently one of the largest online financial service providers in the

world. So, the importance of this agreement to Wilco comes both from the global

nature of the implementations and from its endorsement of the retail

functionality of Gloss," said Wilco managing director Shakti Sagar.