The brokerage services group of Automatic Data Processing Inc. has bought OMR Systems Corp., a privately held trade processing software company in Princeton, N.J.
The purchase followed ADP's acquisition of the Wilco Gloss securities processing and settlement system from Wilco International.
ADP will offer Trading Assistant, OMR's capital markets straight-through processing system, to its brokerage clients. OMR's clients will be offered ADP's Web-based brokerage services.
OMR will become an ADP business unit and continue to be led by its founders, Jim Mersfelder and John Slapp.