2006 Traders Magazine Survey of Correspondent Clearing Firms

• Published in: Traders Magazine 2006-04, p.1
• Main Author: Editorial Staff
• Format: Article
• Language: English
• Subjects: Algorithms; Alliances; Customer services; Hedge funds; Independent contractors; Investment advisors; Investments; Magazine industry; Manycompanies; Outsourcing; Polls & surveys; Ratings & rankings; Service introduction; Stock brokers
• ISSN: 0894-7295

Services: ADP Clearing & Outsourcing Services provides full- scale execution, clearing and business enhancement services and a vast array of financial products and services to retail and institutional broker-dealers. Our offerings include wealth management products, asset management accounts, fee-based managed money programs, top-rated research, extensive mutual fund offerings, a full range of online reporting tools and resources, and a variety of retirement plan accounts. Our technology platform supports a Web- based broker workstation, electronic documents, cold-storage capability and a Correspondent Resource Center. Each client is assigned a dedicated relationship manager and has direct access to our Operations Groups. We assist our clients with broker recruiting, and ongoing sales and product training. ADP's three-tier service offering enables each institution, regardless of size, to choose the appropriate range of outsourcing services to best meet its needs on a single platform: service bureau, operations outsourcing or correspondent clearing. Broadcort's institutional and active clearing offering includes equities, options, fixed income, international securities, access to Merrill Lynch's stock loan desk, and correspondent prime brokerage. Broadcort's web-based tool, Broadcort Online (BCOL), is your portal to Broadcort's dynamic real-time clearing applications, processing and reporting tools. These all encompassing applications support electronic downloads of all brokerage-related information, online access to trade processing, real-time street reconciliation, electronic multi-trade confirms and monthly statements, seamless DVP account opening, fully automated block allocations, dynamic adhoc reporting, intra-day P&L reports, stock loan availability lists, and online order-entry. Broadcort Customer PortalSM was designed specifically for the end customers of Broadcort's Introducing Firms. Broadcort Customer Portal is a web-based tool, providing important account information for your customers that includes balances, holdings, transaction activity, estimated dividend and interest, and electronic multi-trade confirms and monthly statements. Broadcort's execution services include electronic and voice trading solutions, direct market access via the ML X-TRADESM front-end to U.S. equity and options exchanges, major ECNs, Nasdaq, other liquidity providers and Merrill Lynch's proprietary algorithms, ML X-ACTSM.