Sisk, Michael
October 2004
Bank Technology News;Oct2004, Vol. 17 Issue 10, p25
Trade Publication
The article focuses on broker payment systems (BPS). Now BPS is taking aim at the North American securities industry's 2,800 small, regional brokerage firms with an electronic funds-transfer systems geared toward moving money quickly and easily between brokers and retail clients. BPS's added-value managed product for retail brokerage firms provides a non-indemnified electronic capital transfer or an indemnified guaranteed clearing product for retail transactions. BPS's aim is to reduce the overall operating costs of managing the risk-adjusted capital base by assuming the risks of offside accounts and early settlements


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