As the retirement plan market has expanded, custodians and
clearing firms have been working on developing and rolling out new resources and services specifically geared to the retirement plan registered investment adviser (RIA).
For example, at the end of March, margin debt at New York Stock Exchange
clearing firms alone jumped to $278.
The majority of derivatives clearing gateways require
clearing firms to spend resources on maintaining multiple systems due to the proprietary technologies and data formats used by clearing houses.
AS SQUEEZED PROFIT margins continue to bedevil independent broker/dealers in the wake of the financial crisis, those B/Ds'
clearing firms have become more important than ever to their correspondent broker/dealers and to representatives alike.
OTCBB: GWSI) announced today that it has filed a complaint with The Financial Industry Regulatory Authority (FINRA) against two
clearing firms which the company believes aided and abetted stock manipulation yesterday, resulting in a significant decline in the company's stock price.
A real-time, order-to-settlement system for processing securities transactions, Phase3 supports retail and institutional broker-dealers, ECNs, and correspondent
clearing firms.
BRASS facilitates trade execution through connectivity with the buy-side community via the SunGard Transaction Network, through links with major back-office
clearing firms, and through direct access to all major domestic exchanges and trading destinations.
In fifteen-plus years we have now come full circle, believing that
clearing firms have become highly efficient in driving down the cost of transactions and can clear and settle multiple products and markets better than we can internally.
The company has developed the capability to consolidate accounts from multiple back office systems, custodians or
clearing firms for reporting and online access.
There are numerous discrepancies of varying magnitudes that have come to light with the submission of these lists, and the management at Pegasus is obliged to notify the shareholders as well as the Broker/Dealers and
clearing firms as to its policy regarding this matter.
Using patent-pending technology, Albridge Solutions collects, cleanses and normalizes the transaction and position-level securities data it receives from settlement and
clearing firms, data custodians, product companies and internal proprietary systems.
Bobinski was chief financial officer at Refco, LLC, one of the world's largest futures trading and
clearing firms, with over 200,000 customers and $4 billion in customer assets.
