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."