Fidelity Enters Self-clearing Outsourcing

Hintze, John
April 2008
Securities Industry News;4/14/2008, Vol. 20 Issue 15, p1
Trade Publication
The article reports on the plan of the National Financial Services (NFS) to offer a service for processing and operations to self-clearing brokers and dealers in 2008. As reported, the NFS is a clearing business of Fidelity Investment. The article states that NFS will adapt the strategy used by Broadridge Financial Institutions of using self-clearing software developed by Automatic Data Processing. The software allows the clients to retain their Depository Trust & Clearing Corp. (DTCC) codes.


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