Jersey City, NJ, February 2, 1999 -- Qwest Communications International Inc. and ADP Brokerage Services Group, a division of Automatic Data Processing (NYSE: AUD) today announced an agreement in principle to jointly develop and sell a seamless solution to help securities firms offer comprehensive Web-based brokerage services. The end-to-end network and securities processing environment will provide securities firms with a secure, easy-to-deploy electronic commerce solution. This new product includes a complete on-line trading infrastructure ? all in a custom, scaleable solution.
The Qwest/ADP offering will enable financial institutions to participate in the explosive area of online trading. According to a report by Forrester Research, Inc., the number of U.S. households conducting online financial transactions will increase from 3.3 million in 1998 to 15.7 million by 2003.
?ADP Brokerage Services is dedicated to providing its clients? with solutions that are backed by world class service, and we believe that this innovative solution will enable our brokerage customers to deploy extremely reliable brokerage applications in a 24x7 environment. Whether they are already on the web or now starting to enter this fast-growing marketplace, on-line brokerage firms that use ADP?s brokerage processing services combined with the advanced network capabilities of Qwest, will receive unsurpassed service levels?, said John Hogan co-president ADP Brokerage Services Group.
ADP and Qwest will offer the back-end infrastructure that seamlessly integrates and connects the Internet to ADP?s brokerage processing services and then delivers those services over the Qwest Internet Protocol-based Macro Capacity(sm) Fiber Network, a state-of-the-art, reliable, high-speed network.
The ADP/Qwest solution includes:
- Redundant network connectivity to ADP
- Load balancing across multiple data centers
- Robust, global web hosting solutions and facilities
- A customized Internet trading infrastructure
- Real-time access to back office account data
- An expert Help Desk from ADP and Qwest Internet Solutions
- End-to-end services from two leaders in their industries
"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 ADP?s Hogan.
"The complete on-line trading solution has arrived from the two industry leaders. We?re pleased to partner with ADP Brokerage Services, the world?s leading provider of securities transaction processing," said Scott Baxter, president of Qwest Internet Solutions. "The agreement between our companies will enable ADP and Qwest to deliver an end-to-end, single-source Internet solution for brokerage clients everywhere."
As the premier provider of transaction processing services to the financial industry, ADP has the capacity and technological expertise to assist its clients with differentiating themselves in the marketplace. ADP Brokerage provides its clients with a turnkey environment to offer their customers comprehensive on-line investor trading services along with electronic shareholder communications services including:
- An Intranet-based broker desktop productivity tool;
- Electronic delivery of pre-sale prospectuses;
- The ability to vote proxies over the Web;
- The ability to search & view a supermarket of mutual funds
- An integrated solution for electronic delivery of investor information including trade confirmations and statements.
ADP Brokerage Services Group (ADP BSG) brings to financial intermediaries advanced, integrated solutions for securities processing, desktop productivity and investor communication services, all backed by Year 2000 readiness and world class customer service. ADP continually uses technological advancements to develop innovative products that meet the long-term business needs of its clients.
As a leading outsourcing vendor, ADP BSG is leveraging its position to provide competitive, cost-effective services to its clients worldwide. Automatic Data Processing, Inc., with over $4.5 billion in annual revenues and more than 425,000 clients, is one of the largest independent computing services firms in the world. For more information about ADP, please visit our web site at www.adp.com.
Qwest Communications International Inc. (Nasdaq: QWST) is a leader in reliable and secure broadband Internet-based data, voice and image communications for businesses and consumers. Headquartered in Denver, Qwest has more than 8,000 employees and 80 sales offices in North America, Europe and Mexico. The Qwest Macro Capacity (SM) Fiber Network, designed with the newest optical networking, will span more than 18,500 route miles in the United States when it is completed in mid-1999. In addition, Qwest and KPN, the Dutch telecommunications company, have a venture to build and operate a high-capacity European fiber optic, Internet Protocol-based network that has 1,500 miles today and will span 9,100 miles when it is completed in 2002. Qwest also has nearly completed a 1,400-mile network in Mexico.
More information about Qwest is available at www.qwest.com
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule and on budget, financial risk management and future growth subject to risks, Qwest?s ability to achieve Year 2000 compliance, adverse changes in the regulatory or legislative environment, and satisfactory negotiation and execution of definitive documentation.
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