Looking to tap into the growing online financial market, Qwest
Communications International Inc. is teaming up with ADP Brokerage Services Group
to jointly develop and market a solution to help securities firms offer Web-based
brokerage services.
The companies said Monday they are looking to develop an end-to-end network and
securities processing environment that will provide securities firms with a secure
electronic commerce solution. Features will include a complete online trading
infrastructure, customization and scalability.
The solution will offer ADP’s brokerage processing services and deliver those services
over the Qwest Internet Protocol-based high-speed Micro Capacity Fiber Network.
The companies are looking to advance in the online financial industry, which is growing
at a fast pace. Forrester Research predicts that 21 million households will be using
online financial services by 2003.
“Qwest offers the most technologically-advanced fiber optic world-class network that
will enable ADP to bring the back office closer to the investor and offer our clients the
next-generation of brokerage services today,” said John Hogan, co-president of ADP
Brokerage Services Group.
He said the solution will be designed to accommodate clients with various levels of
Web service.
“Whether they are already on the Web or now starting to enter this fast-growing
marketplace, online brokerage firms that use ADP’s brokerage processing services
combined with the advanced network capabilities of Qwest, will receive unsurpassed
service levels,” said Hogan.
