ADP said the firm will use its Operations Outsourcing product, which is designed to enable self-clearing brokers to outsource any or all of the operational functions of trade clearance, settlement and custody with minimal impact to customers and registered representatives.
National Investor Services is reportedly the second company to deploy ADP’s Clearing and Outsourcing Services after brokerage firm Murphy & Durieu subcontracted clearing and settlement of equities and fixed income transactions to ADP last November.
