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Wilco becomes partner for IBM

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DQW Bureau
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IBM and Wilco International have entered into an Advanced

Business Partner Agreement. IBM will provide sales and integration services for

Wilco's global securities processing and settlement system, Gloss, which Wilco

will continue to develop, market and sell. Also, Wilco's Gloss will provide the

back office securities processing and settlement component of the IBM Straight

Through Processing (STP) Workbench for e-business for broker and dealers.

Wilco's Gloss is a real-time integrated system for trade

processing, clearing, settlement and accounting. Gloss can support a wide range

of financial instruments, including international equities and warrants, as well

as bonds such as international sovereign debt, non-sovereign debt, emerging

markets and floating rate notes. It offers a broad range of functional support

for principal and agency business, collateral management, investment banking,

and treasury.

The IBM STP WorkBench is a modular set of offerings

comprised of consulting, re-engineering and integration services as well as

hardware and software components from IBM and select industry-leading software

business partners. The STP WorkBench helps broker and dealers; global custodians

and investment managers settle trades more quickly, reduce costs, lower

operational risks and improve customer service. It leverages IBM technology to

support the integration of new functions and existing systems operating on a

variety of platforms.

“Gloss's multi-market and multi-currency functions make

it an ideal product to support the consolidation of securities operations for

clients looking to lower cost, promote increased operational efficiency and

facilitate expansion into new global markets,” said Tom Shaw, Director (STP),

IBM Global Financial Markets. “Wilco's Gloss combined with IBM's integration

services make it a powerful solution for securities firms that look at STP as

not only an industry mandate but also a business growth opportunity.”

(CNS)

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