Tech Bytes: ADP Unit Marketing Trade-Processing Service

process banks' foreign exchange, money market, and derivatives transactions.

Banks would either electronically transmit trade data on a real-time basis or use OMR Systems' Trading Assistant software throughout the day to add and verify trades. A $200 million New Jersey data center, staffed by 750 ADP employees, would handle trade confirmations, settlements, payments, profit and loss reporting, risk calculations, and trade-limit checking.

Banks would pay the Automatic Data Processing Inc. unit a fixed price per trade. A spokesman said the service could save a bank 50% of in-house operating costs.

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