Clearance & Settlement
Broadridge Brokerage Processing Services provides broker/dealers and banks with comprehensive clearing and settlement services. These services provide clients with the ability to clear and settle trades in an automated and controlled environment, with on-line and real-time interfaces to the Depository Trust Company (DTC). Broadridge clients also have the ability to move securities between branches, as well as transfer securities from various branch offices to a centralized operations and processing center. And, Broadridge's systems support multi-currency, as well as multi-company use and are continually enhanced to meet the evolving needs of our clients and the brokerage industry as it continues to concentrate on the development of straight-through-processing.
Broadridge's clearance and settlement services start with the Transit System, which provides your firm with the ability to control the movement of securities from any of your branch offices right up to the point at which the securities are received at the operations center. During the transit process, your firm benefits from the use of these securities, maximizing securities for delivery under existing regulations and allowing you to reduce the interest costs to your customers. The Transit System also has real-time interfaces to Broadridge's Cage III and Transfer Systems, and will automatically generate all bookkeeping entries according to your defined specifications. The system will also maintain a complete audit trail of all entries made to transit items.
The Broadridge Cage III system offers extensive on-line functions, which are user friendly, flexible and provide special optional processing, which can meet your firm's individual requirements. The Cage III system provides unique processing services that include real-time interfaces to DTC for all receive and delivers, institutional delivery, prime broker, bank loan and security deposit activities. The Broadridge Cage III system also provides an automated, real-time turnaround processing function that allows you to maximize usage of receive activity. The optimization of segregation and the file generation features also provide the ability to control the movement of securities within your operation center, while still maintaining possession and compliance control.
In addition to the Transit and Cage III systems, Broadridge's clearance and settlement services also include the Transfer System. This system allows your firm to control the transfer of securities between registered holders. It also creates an on-line history file for research purposes and reduces the manual effort required in the processing of transfers - allowing for a reduction in errors and improved risk management control. The Broadridge Transfer System allows your firm to setup and modify both transfer and delivery instructions on-line. And, with the automated history tracking, you can research completed items quickly and efficiently. Broadridge's has also recognized that many firms process securities differently. To address firm-specific requirements, we have built in multiple system options so you can define your own processing needs, including the ability to manipulate base account number for firm transfers, bookkeeping entries for automatic entry, auto or manual booking for depository queues, and automatic offset account for aged items.
Utilizing Broadridge's clearance and settlement services, your firm can access and process information on-line and in real-time, as well as balance with DTC on settlement day. As an added balancing tool, you also have access to daily exception reporting of DTC activity. 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!
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