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.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.