RBC Securities Signs for ADP Wilco’s SUMMIT System
RBC Securities Australia, the Sydney-based stockbroking subsidiary of The Royal Bank of Canada, has signed a multi-year contract with Automatic Data Processing, subsidiary of ADP Wilco, for the processing of its new equities brokerage processing operations. Under the agreement, RBC will use ADP Wilco’s Australian broker client accounting system, SUMMIT, to automate the processing lifecycle of its equities operation for both domestic Australian and international traded securities from trade capture through to confirmation, position management, multi-currency books and records, clearing house reporting and settlement. SUMMIT will also provide integrated processing for corporate actions.
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