Broadridge Investor Relations
2006 News Releases
Multi-Bank Securities Chooses ADP Clearing & Outsourcing Services for
Brokerage Clearing Services
Contact:
Dorothy Friedman
ADP Brokerage Services Group
(212) 918- 6920
Dorothy_Friedman@adp.com
NEW YORK, New York -- January 17, 2006 -- ADP Clearing & Outsourcing Services, Inc. (ADP Clearing), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced it has been selected by Multi-Bank Securities, Inc. to clear its fully disclosed business. Multi-Bank signed a long term contract with ADP Clearing to support its institutional fixed-income trading and CD underwriting for credit unions.
Multi-Bank Securities, headquartered in Michigan, chose ADP Clearing to provide a full range of clearing and settlement services. The company chose ADP Clearing due to its financial stability and extensive product line.
"We were very impressed with ADP Clearing's ability to meet our needs with such agility and flexibility," said Mike Drews, President, Multi-Bank Securities, Inc. "When we lost our clearing provider, ADP Clearing's staff stepped in and seamlessly transitioned us to its platform in one week. The staff's rapid response and turnaround time during a distressed period showed real dedication to their clients and secured our confidence in them. They really understand the institutional fixed-income side of the business and we are excited to work with such a committed organization."
Another key factor in choosing ADP Clearing was its gateway to an array of complementary business solutions. With such a comprehensive list of products and services, Multi-Bank Securities can now leverage its relationship with ADP Clearing to offer some of ADP Employer Services' products, such as retirement plans and human resources services, to their credit union clientele.
"Providing prestigious clients, such as Multi-Bank Securities, with an industry leading brokerage platform to help them stay ahead of the competition solidifies our commitment to our clients and the correspondent clearing marketplace," commented Joe Barra, President, ADP Clearing. "We are excited to bring Multi-Bank Securities a business solution that will help them achieve their financial goals."
About ADP Brokerage Services Group
As the premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP presents financial intermediaries advanced and integrated systems for securities processing, desktop productivity and investor communication services, all focusing on providing solutions for straight through processing and World Class Service.
ADP, with $8.5 billion in revenues and approximately 590,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. For more information about ADP Brokerage Services Group, please visit http://www.bsg.adp.com and for other ADP services and investor information, visit http://www.adp.com.
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