Consolidation and the Clearing Merry-Go-Round

Hintze, John
May 2004
Investment Dealers' Digest;5/10/2004, Vol. 70 Issue 19, p28
Trade Publication
Reports that merger activities in the correspondent clearing industry is causing brokerage firms to search for new clearers and sometimes, to convert to new systems. Decision of Kovack Securities Inc. to convert to UBS PaineWebber's Correspondent Services Corp.; Broker Dealer Financial Services Corp.'s decision to move to Legent Clearing Corp. to better support its new-product development effort.


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