NEW YORK, New York -- July 9, 2007 -- Broadridge Financial Solutions, Inc.today announced that its wholly owned subsidiary ADP Clearing & Outsourcing Services, Inc. will now be called Ridge Clearing & Outsourcing Solutions, Inc. (Ridge Clearing, www.ridgeclearing.com).
Ridge Clearing is a pure provider of correspondent clearing solutions to fully disclosed broker-dealers and operations outsourcing solutions to self-clearing broker-dealers. Ridge Clearing manages the processing of domestic and international equities, fixed income, mortgage backed securities, mutual funds, ADRs, and other financial instruments for institutional broker-dealers, discount and full-service broker-dealers, as well as wealth managers around the world.
Joe Barra, President of Ridge Clearing, commented, "We are pleased to announce our new name. It conveys our sense of stability, security, and reliability to our clients. As we always have, we will continue to prove our lasting commitment through the delivery of our best-of-breed products, exceptional service, and personalized relationships."
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.
For more information about Broadridge, please visit www.broadridge.com.