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ADP Wilco Upgrades Its Gloss Securities Processing System

Automatic Data Processing’s Wilco unit has upgraded its Gloss international securities processing system. The latest version – Version 5 – includes extended instrument coverage and broader market connectivity. Gloss 5 now supports international fixed-income securities, repurchase agreements and stock lending. The system complies with upcoming mandatory changes to the Swift messaging format and now connects…

RDUG’s Legal Identity Identifier Proposal in Review Process

The draft definition for a proposed Legal Entity Identifier (LEI) code has this month been passed to Swift as the next stage in its development towards becoming an industry standard. It is also being considered for adoption into the next release of the FIX protocol, and the U.K. Financial Services Authority is considering endorsing it….

Institutions Gearing Up For The Switch To ISINs In German Market

Financial institutions in Germany are gearing up for the introduction of the International Securities Identification Number later this month, an event requiring preparation that has been compared with the scale of the euro’s introduction. Germany and Austria switch to ISIN on April 22, ahead of most other European countries. France and other countries linked to…

Banc of America Plans Expansion of Internal Reference Database

Banc of America Securities is planning to expand an internal reference database that it developed with Financial Technologies International with the addition of further instruments and functionality. Alan Rosenthal vice president of IT business architecture at BoA told the recent FinExpo conference in London that the bank has been able to realise $16,000 a month…

Euronext Steps Into Line With Adoption of ISIN-Only Coding

From the end of June, all securities traded on the Euronext Paris cash markets will be identified solely by their International Securities Identification Numbers (ISIN), bringing it into line with most other major financial markets. In France it will replace the national Sicovam codes, making it easier to identify securities, particularly in cross-border transactions. For…