Dresdner Signs Fixed Income Outsourcing Deal with ADP
The New York office of investment bank Dresdner Kleinwort Wasserstein has signed a multi-year agreement to outsource its fixed-income trade processing to ADP Brokerage Services Group. Dresdner will use ADP’s impact solution that provides fixed-income support to the financial services marketplace. Previously, Dresdner had used a licensed system from ICI/ADP. The decision to move to a service bureau solution was made in order to reduce total operating costs as well as to upgrade to the latest version of the impact system. The latest version includes a browser-based interface for back-office users.