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Corporate Actions

Broadridge Brokerage Processing Services offers comprehensive support for corporate action processing and reorg notifications. With the BPS Reorg system, Broadridge clients benefit from one of the most sophisticated systems available and gain access to robust processing capabilities including DTC Lottery Processing, Automatic Booking of Maturities, Foreign Currency Processing, Automatic TEFRA/NRA Withholding, Cancel and/or Rebill of Booked Securities, and Over-subscription Processing. And, because Broadridge Brokerage Processing Services offers its clients value-added integration with its Investor Communication Solutions (ICS) group, the BPS Reorg system is linked to the ICS Reorg Notification application, which allows clients to quickly and easily notify customers of voluntary reorg offers.

The BPS Reorg system is an on-line application that accepts multiple vendor data feeds based on client requests. Currently, ADP has links to the following vendors:

With the BPS Reorg system, your firm has the ability to compile and maintain corporate action data, comprised of voluntary and mandatory offers, from the various vendors and have access to additional update information, on a CUSIP-level, throughout the entire lifecycle of the reorg event. The BPS Reorg system provides a wide range of vendor announcement types including:

The BPS Reorg system will also match the vendor announcement to your firm's stock record and create a pending file with customer positions for those who are eligible to participate in the offer. The system will also interface with your firm's Historical Stock Record for Odd Lot Tenders and Partial Calls, allowing you to access customer positions up to 120 days past, and create a pending file based on the historical record or publication. This access helps you maintain the historical accuracy of the appropriate customer activity for processing.

And since the BPS Reorg system is a trade date application, it will also process interim accounting throughout the entire term of the offer, allowing for seamless additions to the pending file activity that has occurred on a CUSIP or customer account level. The BPS Reorg system currently supports buy-trades, sell-trades, receives, delivers, journal entries, and adjustments. In addition, your firm can also benefit from Broadridge's ability to process multiple options/terms and individually book customer accounts or globally book all customer accounts.

In addition, Broadridge's Reorg applications help your branch offices and brokers be more productive. With the online Branch Access module, your brokers can view customer positions and record their responses to a particular action. This access eliminates the need for your back office personnel to get involved with tracking customer responses, and allows them to focus on simply updating the pending file with the customer's choice that has already been received.

By leveraging the strength of Broadridge's reorg processing services, your firm has unparalleled support for handling your corporate action requirements. And, along with state-of-the-art systems and technology, Broadridge provides unparalleled world class service including comprehensive conversion plans, proven quality assurance and ongoing technical support!