Fidelity's Clearing Unit Expands B/D Services
May 1, 2006
National Financial, the clearing division of Fidelity Investments, has launched three new services to assist broker/dealers.
In partnership with brokerage software company Minigham & Oellerich, National Financial is offering a data aggregation program that will allow broker/dealers to view firm-wide sales and management information. Although the program can only show data from National Financial, not other institutions, it includes information about customer accounts, compensation, direct business, compliance, journals and accounts.
Through a multi-year relationship with annuity services company Finetre, National Financial will offer clients streamlined annuity application processes and improved compliance.
Finally, National Financial will offer Reuters workstations that channel market data, fundamentals, analytics and real-time market access to institutional clients. "Reuters Station adds to our institutional offering and will offer our clients access to another established desktop market data solution," said Norman Malo, president and chief executive officer of National Financial.
"Broker/dealers continue to face numerous business challenges, ranging from regulatory pressure to increasingly sophisticated client needs, and are demanding that their clearing firm offer more than just traditional services like trade execution," Malo continued.
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